Tuition increase among lowest in 25 years
In one of the lowest tuition increases of the past quarter-century, the BU Board of Trustees has set tuition for the 2000-2001 academic year at $24,700 and the basic room and board rate at $8,450, for a total of $33,150. The combined rates represent an overall increase of 3.9 percent -- similar to last year's.
The announcement was made in a December 29 letter sent to students and their parents by Earle C. Cooley, chairman of the board. Cooley wrote that the increase is significantly lower than the five percent average rise of college costs nationwide in 1999.
"Costs in higher education have continued to rise somewhat faster than the rate of inflation primarily because of the intense competition for outstanding faculty members and the need to keep pace with rapid advances in information technology in both teaching and research," explained Cooley. "At Boston University, we have worked hard to minimize the impact of these costs on tuition and fees while maintaining the exceptional quality of our academic programs."
Cooley noted that during the past year, BU has continued to make significant progress in increasing income from sources other than tuition. For example, grants for research-related activity reached $200 million last year, the highest level ever. "Sponsored research, supported by government and foundation funds, constitutes a major enhancement of our educational programs," wrote Cooley.
In addition, Cooley reported that BU's fundraising efforts have led to record gift income from alumni, corporations, and foundations. In fiscal year 1999, gifts rose by 20 percent, "part of a remarkable trend that has seen annual giving grow by 100 percent over the past four years," he continued. "These gifts, which represent a strong vote of confidence in the future of the University, support needs ranging from student scholarships and faculty salaries to new educational programs."
BU "remains committed to providing its students with the best possible opportunity to reap the lifelong rewards -- intellectual, ethical, and material -- of a sound education," wrote Cooley.