Distributed February 23, 2002
News Service Contact: Mark Nickel
Corporation approves 4.6-percent increase in total charges for 2002-03
Overall charges for undergraduates at Brown University will rise 4.6 percent to $36,356 for the 2002-03 academic year. That figure includes a 4.8-percent increase in tuition (to $27,856).
PROVIDENCE — At its winter meeting today (Saturday, Feb. 23, 2002), the Corporation of Brown University approved a 4.6-percent increase in tuition and fees for the 2002-03 academic year, bringing the total cost of an undergraduate year at Brown to $36,356. The new figure includes a 4.8-percent increase in tuition (to $27,856) and smaller increases in the room and board rates, health fee and student activity fee.
The Corporation also set the endowment draw for the next fiscal year at 5.25 percent, a significant increase over the current draw (4.6 percent) and a departure from nearly a decade of small annual reductions. (The endowment draw, applied to a 12-quarter average value of the University’s endowment, determines the amount of endowment revenue budgeted for the next fiscal year.)
The new fees and the endowment draw were elements of a far-reaching Proposal for Academic Enrichment presented to the Corporation by Brown President Ruth J. Simmons. That plan, approved by the Corporation this morning, will lead to significant enhancements to Brown’s academic core, including a commitment to need-blind undergraduate admission, beginning with the Class of 2007.
“The University’s new policy of need-blind undergraduate admission and its continuing commitment to fund 100 percent of the demonstrated financial need for all students who matriculate will ensure access for all of our nation’s most promising students,” said Laura Freid, executive vice president for public affairs and University relations. “
For many years, support for scholarships and financial aid has been the most rapidly rising item in the University’s budget – up 7.3 percent to $46.3 million in the current year. Next year’s financial aid budget for undergraduate and graduate students will grow at more than twice the rate of undergraduate tuition and fees.
By setting tuition and the endowment draw (the only revenue elements under its direct control), the Corporation determines the revenue side of the budget for the next fiscal year. It will consider the entire University budget at its final meeting of the academic year in May.
Recent history of tuition and fees at Brown University