Boston University will raise its tuition by 4.25% next year, its largest increase in 14 years, bringing the cost of the school over $60,000 per year for undergraduate students.
BU President Robert A. Brown announced the tuition hike in a letter to faculty and staff on Friday.
"By far, my greatest immediate concern is the impact of inflation on faculty and staff, our students, and the University. We have increased undergraduate tuition 4.25% for the coming academic year, our largest increase in 14 years, following an increase of only 3.0% last year," he wrote. "This increase does not keep pace with the current national rate of inflation and cannot fully offset the increased costs of University operations or fund salary increases that would fully mitigate the effects of inflation on the families of faculty and staff. I also am mindful that our students and their families are affected by our increases and by inflation. We are caught in an inflationary vise between the institutional pressures and the impact on our students and their families."
The new tuition rate will be $61,050, according to the BU website, or $79,760 when room and board is included.
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"Even with the challenges I have mentioned, we have many reasons to be optimistic about our future. We all have seen the campus tours for prospective applicants led by our enthusiastic Admissions Ambassadors," Brown said in his letter. "The striking angularities and distinctive façade of the Center for Computing & Data Sciences are now visible. This amazing facility is emblematic of our commitment to lead in research across all our disciplines. And our newly promoted faculty members inspire us with their commitment to leadership in research and to educating our students."
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BU is not the only local school to have announced a recent tuition hike.
The University of Massachusetts, under financial pressure because of high inflation and other expected cost increases, announced last month that it is raising tuition across the board this fall for the first time in three years.
Trustees on Wednesday voted to increase in-state, undergraduate tuition by 2.5% for the 2022-2023 academic year, which would add $395 to the bill of a student at the flagship Amherst campus, and slightly less at the Boston, Dartmouth and Lowell campuses, the system announced.
Out-of-state undergraduates face the same increases, except at Amherst where they face a 3% hike. Room and board costs are also rising by up to 3.9%.
