University | 11:42 pm | March 12, 2013 | By Amy Wang

Term bill to increase by 4 percent

Yale announced a $57,500 undergraduate term bill for the 2013-’14 academic year on Tuesday — a roughly 4 percent increase from the current year.

The new term bill, which is approved by the Yale Corporation each year, sets tuition at $44,000 and room and board at $13,500 for the next year. Tuition is currently at $42,300, and room and board at $13,000.

Despite the hikes, University spokesman Tom Conroy said in a release that Yale will continue to meet “the full demonstrated financial aid of all undergraduates.” No parent whose child is currently receiving financial aid from Yale will be expected to contribute more in 2013-’14 than they do for the current year, he said, unless their financial circumstances have changed.

Conroy added that the expected contribution by students in the “self-help” portion of their financial aid packages — which can include work-study jobs and other self-earning opportunities outside of family or University contributions — will increase by $100, to $2,800 for freshmen and $3,300 for upperclassmen. Campus minimum wage is currently $12 per hour.

The financial aid budget for 2013-’14 is expected to fall to $119 million from $120 million. 

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