CHICAGO (CBS) – Big tuition increases are coming for college students at some of the area’s finest universities.
The University of Chicago announced Monday that tuition will go up by 4.1 percent, bringing the total cost of education with room and board to $55,146. The figure breaks down to $41,853 for tuition, and the remaining $13,563 is for room, board and fees, according to a release from the school.
By contrast, tuition with room and board for students entering in 1998 was about $32,000.
At the same time, the school announced a “significant boost in overall financial aid spending for 2011-12,” to help ensure that low- and middle-income students can attend the university, James Nondorf, Vice President and Dean of College Admissions and Financial Aid, said in the release. The university will increase by approximately 15 percent its financial aid budget for undergraduates, the release said.
This is despite a decision in January to create limits on tuition increases.
The U of I trustees made the policy to keep tuition down in relation to inflation and other factors — with increases as low as 2 percent. But they also said given that the state already owes the university more than $430 million, folllowing the policy might prove impossible.
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The latest tuition hike comes after a 9.5 percent increase in tuition at the university for the present school year. Tuition for the U of I flagship campus in Urbana-Champaign is now almost $14,000 a year.
Trustees vote on the tuition hike on Wednesday, and it is expected to be approved.
Two other local universities, DePaul and Northwestern, also announced increases in tuition.
Undergraduate tuition at Northwestern University will increase 4.4 percent in the coming school year and 6.2 percent at DePaul University, the schools announced last week.
Northwestern’s undergraduate tuition will go up to $41,592 for the 2011-2012 academic year from the current year’s $39,840.
Room and board rates will increase 4.4 percent to $12,780 from $12,240 for an undergraduate student living in a double room and on a 19-meal-per-week board plan, a release from the school said.
Total undergraduate tuition, fees, room and board at Northwestern University will increase 4.4 percent to $54,763 in 2011-2012 from the current year’s $52,463, according to the release.
Graduate school tuition also will increase by 4.4 percent to $41,592 next year at Northwestern.
DePaul University’s tuition for freshmen in the 2010-2011 school year will go up 6.2 percent from this year.
Most freshmen entering DePaul later this year will pay $30,000, up from $28,240 for freshmen who entered in 2010-2011. Tuition for music and theater freshmen will be $32,000, up from $30,665 for this year’s freshmen.
Tuition for full-time law school students entering DePaul in the upcoming school year will be $41,240, up from $38,900 for those who entered this school year.
Both DePaul and Northwestern also announced they have a variety of financial aid options available for students and their families.
The Sun-Times Media Wire contributed to this report.
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