The Board of Directors and Board of Regents for many colleges and universities will convene over the next quarter to establish the tuition rates for their respective institutions for the coming year. While we would all prefer to experience tuition freezes, or even better yet, tuition decreases, the fact of the matter is that the majority of schools will be increasing tuition and fees for the next academic year.

Princeton University is the first school that I have seen come forward and announce what the impact on tuition will be for their incoming and returning students next year. And I must say that I am pleasantly surprised.

Princeton is going to increase tuition and room charges by 1% and meal plans will receive a 2% bump. So, an undergraduate that plans to live on campus next year can expect to pay a total of $49,069. ($37,000 for tuition, $6596 for the dorm room,  and $5473 for the meal plan) This is just the sticker price because we all know that Princeton is one of the top financial aid schools in the country.

Provost Christopher Eisgruber shared the following statement: “In a year when Princeton had done relatively well and many families continued to struggle, we felt it appropriate to hold down the increase to the fee package to levels consistent with the very low inflation rates experienced by the university.”

So the question that comes to mind for new and returning students across the nation, is Princeton’s approach on a minimal tuition increase going to be the litmus test for how other schools move forward with their individual rate adjustments in the coming year? In a world of double digit tuition increases, I guess time will tell but I personally remain optimistic! 😉