The Yale College term bill will surpass $50,000 for the first time next year.
The charges, which include tuition, room and board, total $52,700. They represent a $2,900, or 5.8 percent, increase over those for the current year, according to a Monday afternoon press release. The financial aid budget will also increase by 8 percent to fund the growing expense as well as to expand the criteria for full financial aid coverage, the press release said.
Total scholarship funding will increase to $117 milion. This increase will fund the term bill for students receiving both partial and full scholarships. More students will receive full scholarships next year: students whose family incomes are below $65,000 are eligible, an increase from $60,000 this year.
“These measured increases help us preserve both the extraordinary quality of a Yale College education and a far-reaching financial aid commitment matched by few other institutions,” Provost Peter Salovey said in a statement. “An increase in the term bill is necessary, but financial aid students will receive scholarship awards that cover the increase and it¹s important to note that the education of every Yale student is subsidized by the generosity of donors who support the University.”
The term bill for the current 2010-’11 school year totals $49,800.