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University announces tuition, financial aid increases for 2018-19

February 25, 2018

Tuition for University of Rochester undergraduates in the College will increase by 3.7 percent to $52,974 for the 2018-19 academic year, and financial aid will rise 5.7 percent over the current year to $137 million. Room and board will increase 3.5 percent to $15,862.

Tuition for the Eastman School of Music will also increase by 3.7 percent to $53,340.

University Trustees approved the 2018-19 undergraduate tuition rates at a February meeting.

“We are sensitive to the rising costs of a University education and do our best to keep costs and tuition increases as small as possible.  Tuition increases help to preserve the high standards for faculty and student services, as well as to maintain our facilities,” said Richard Waugh, interim dean of the Faculty of Arts, Sciences & Engineering.

Undergraduate tuition background

Annually, the University determines the undergraduate tuition rate based on the projected financial needs of Arts, Sciences and Engineering in the upcoming year, as well as the expected number of enrolled students. Tuition increases are driven by many factors, but largely it’s a balance between the University’s ability to provide and invest in the best instructional experiences for students, and keeping the cost affordable to students and families.

For 2018-19, tuition will cover about 66 percent of AS&E expenses, which are projected to rise in cost by 3.8 percent in the coming year. Tuition dollars go to the programs, services and facilities that benefit all AS&E undergraduates, regardless of whether students live on or off campus.

Arts, Sciences & Engineering  2018–2019 Tuition Information     86% of College undergraduates receive financial aid.     $137M in designated financial aid for 2018–19, in the form of institutional grants and scholarships for AS&E undergraduates.     In 2018–2019, tuition is increasing by 3.7 percent.  This increase supports:     Instruction  Instructional costs represent more than half of the total budget and include faculty and staff compensation, salaries, and benefits, as well as certain academic services and curricular programs for students, including global study and research opportunities. In the upcoming year, the budget includes additional funding for new faculty hires across many disciplines.     Libraries  Providing the books, journals, subscriptions, and other research and reference tools  valuable to students and faculty.     Student Services  Funding many undergraduate services and resources, including advising and career preparation, recreation and wellness through the Goergen Athletic Center, support and student retention programs, and multicultural learning. The final components of Integrated Student Information System upgrade are also included here.     Operations and Maintenance  Maintaining and updating facilities, classrooms, and laboratories to meet the needs of all students for learning and research. This year, planning is under way for the conversion of certain existing spaces into new classrooms.     Advancement and Communications  Fundraising and alumni engagement programs and communicating how the University represents itself internally and externally.     General Administration and Institution  This year, the budget includes further investment in IT infrastructure as well as support for administrative services, including the Department of Public Safety.     Information accurate as of 2/2018     University of Rochester

Financial aid increase

This year, institutional financial aid that supports AS&E undergraduates in attending the University until graduation is rising by 5.7 percent to $137 million—from $124 million in 2017-18. This $137 million is in the form of institutional grants and scholarships. The percent increase is higher than in recent years due in part to the loss of the federal Perkins Loan program in 2017, which provided subsidized, low-interest financing to students.  To assist previous Perkins Loan recipients in making up that difference, the University has increased aid and is providing the Rochester National Grant.

In 2017-18, more than $195 million in total aid—federal/state/outside grants/scholarships/loans, in addition to University grants and scholarships—was awarded.

Tuition at the University’s professional schools

The Board of Trustees additionally approved the 2018-19 tuition rates at the University’s professional schools:

Simon Business School:

  • MBA: $46,000, remaining the same for the third year in a row.
  • MS Finance: $78,000, a 1.3 percent increase
  • MS Accounting: $65,000, no change
  • MS Business Analytics and Marketing Analytics: $66,000, a 1.5 percent increase

School of Nursing’s three semester accelerated program: $68,770, a 3.8 percent increase

Warner Graduate School of Education: $47,744, a 3.6 percent increase

School of Medicine and Dentistry (MD program): $56,800, a 4 percent increase



Category: University News

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