The Yale College term bill will increase by 3.8 percent, from $69,430 to $72,100, for the 2019â€“20 academic year, the University announced last Monday.
Tuition will rise from $53,430 to $55,500, and the cost of on-campus room and board will jump from $16,000 to $16,600. Over the past two decades, the term bill has increased at a rate similar to this yearâ€™s. According to the press release announcing the change, the level of the student effort â€” the amount of money students on financial aid are expected to contribute to their education â€” will remain constant for the fourth straight year.
â€œAlthough the cost of a Yale education changes each year, students receiving financial aid can rest assured that their Yale financial aid award will continue to meet their full demonstrated financial need,â€ said Director of Undergraduate Financial Aid Scott Wallace-Juedes.
For the 2000â€“01 academic year, at $32,880, Yaleâ€™s term bill was 55 percent lower in absolute terms than that of the coming school year, though inflation has accounted for the bulk of the difference. Tuition as well as room and board have been consistently increasing by roughly 4 percent annually since then, even through the 2008 financial crisis, which slashed the Universityâ€™s endowment by 25 percent. Yale has said that it increases tuition and room and board to keep pace with inflation and University expenses.
Obscene, outrageous, absolutely appalling. But the top elite schools have a natural monopoly as gatekeepers to the International Ruling Class and every year more people are lining up trying to get in.
Yale cost $3000 a year when I was a freshman back in 1966.