Departments
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Week of 9 January 1998 |
Vol. I, No. 15 |
Feature
Article
Tuition increase lowest in more than 25 years
In the lowest tuition increase in more than a quarter-century, the BU Board of Trustees has set tuition for the 1998-99 academic year at $22,830 and the basic room and board rate at $7,870. The combined rates represent an increase of 3.93 percent.
The announcement was made in a January 5 letter sent to students and their parents by Earle C. Cooley, chairman of the Board.
"This modest adjustment is the result of our aggressive efforts on a number of fronts to control costs without compromising the commitment to excellence that is the hallmark of Boston University," wrote Cooley. He pointed out, for example, that BU has been able to bring down administrative expenses as a percentage of total revenues, from a high of 8.6 percent in 1983 to 4.9 percent last year. He added that the University has also made significant strides in cutting utility costs through conservation.
"We are also making progress in increasing revenues from sources other than tuition," Cooley reported. He explained that the annual rate of alumni giving has risen by more than 60 percent in the past two years, and continues to rise. "This generosity not only benefits today's students directly, but also confirms the value of a Boston University degree to past graduates," wrote Cooley.
"Today," he continued, "Boston University is widely recognized as one of the world's leading institutions of higher education." Achievements during the past year that have further enhanced BU's reputation include the selection of CAS Professor Robert Pinsky as the nation's poet laureate and the completion of the nine-story Photonics Center. The University also continues to renovate and upgrade student residence halls and is planning the construction of an apartment-style residence that will house more than 700 students.