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next year's tuition

BenleyBenley Registered User Posts: 1,643 Senior Member
edited March 2010 in Prep School Parents
It's about time when schools are deciding on next year's tuitions. Has anyone heard anything yet? What rate of increase will we see?
Post edited by Benley on
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Replies to: next year's tuition

  • flyinglandbirdflyinglandbird Registered User Posts: 161 Junior Member
    Last year there was US$500 internet fee for everybody. No more surprise this year, I hope !
  • BenleyBenley Registered User Posts: 1,643 Senior Member
    What school is this? Are you talking about the technology fee? If so I think it is a standard fee every school charges although the amount can vary.
  • PA-CPA-C Registered User Posts: 960 Member
    Exeter announced a 3% tuition increase for next year.
  • toombs61toombs61 Registered User Posts: 775 Member
    PA-C, if what you say is so, then what you say is sad to hear. We are in the midst of the worst economic times since the '30's, but our elite (and oblivious?) boarding schools are hiking their tuition? If so, then as such schools and many colleges raise costs for higher education, more and more people will conclude that they can do without such education. Not a pleasant thought for such people in particular or the country as a whole.
  • BenleyBenley Registered User Posts: 1,643 Senior Member
    3% is moderate especially considering Exeter's tuition is considerately lower than many of its peers, although last year both A & E only had a 2% increase. I've heard that Andover is not going to increase its tuition this year, but I don't know if it's true or a final decision.
  • klikli Registered User Posts: 79 Junior Member
    @toombs

    Those who can afford 40k tuition a year will not mind paying a few extra thousand dollars. As for those less fortunate, Exeter continues to maintain one of the largest FA programs in the world; clearly FA grants will be adjusted accordingly to the increase in tuition. I am confused as to why you appear to be so upset.
  • toombs61toombs61 Registered User Posts: 775 Member
    As the economy slows down, schools should slow down tuition hikes. If they don't, they appear as if they are impervious to the tough times that many are suffering. Well, no one is immune to the cruel vagaries of the market place. If the elite BS's act as if they are, then they will not (or, in my opinion, should not) attract as many elite students as they have enjoyed in the past.

    As for BS's always having sufficient FA, last year showed us that such was not the case. I understand that Hotchkiss (where my son now goes to school) cut back on FA last year (from about 37% of in-coming kids receiving FA to about 27%), while PEA suffered, I believe, a simliar decrease.

    If you are pleased that BS's tuition is rising, then I'm pleased for you. Still, don't think that I or others should be pleased.
  • SFBayareaParentSFBayareaParent Registered User Posts: 67 Junior Member
    I think a few percent of increase will be reasonable, considering all inflation and loss of their investment. I definitely do not want to see the school operating in the tight budget like our current public schools.
  • BenleyBenley Registered User Posts: 1,643 Senior Member
    In Exeter, a 3% increase means each full pay student pays an additional $1161 a year. I believe that should not be a big concern to most of them. On the other hand, the total additional revenue generated by this increase would be about 1 million. With its endowment and yearly donation from alumi and families, that 1 million can hardly be a determining factor in whether the school would be operating in a tight budget. I believe Exeter trustees made the decision for a reason. It was an opportunity to strenthen the school's image of being caring and "in touch", but it was also an opportunity to exert financial conservertism for the school's long-term well-being. Exeter apparently chose the latter.

    Edit: I was wrong in that 1 million figure. Taking students on FA into consideration, it would a lot less than 1 million.
  • BrooklynGuyBrooklynGuy Registered User Posts: 666 Member
    For Andover:

    2009 Boarding: $39,900; Day: $31,100
    2010 Boarding: $41,300; Day: $32,200

    Boarding/Day Increase: 3.5%

    Need-blind admission will be preserved.

    This information comes from an e-mail to parents.

    We found that while tuition increased from 2008 to 2009, our aid package went up as well.
  • urbanflopurbanflop Registered User Posts: 1,682 Senior Member
    Well, at least the aid package came up.
  • Princess'DadPrincess'Dad Registered User Posts: 1,123 Senior Member
    most of the private schools lost up to 1/3 of their endowments in the past year. How are they supposed to continue their mandate and finance those who cannot afford to attend without raising their tuitions?
  • JayPeehJayPeeh Registered User Posts: 141 Junior Member
    from we'd heard from admissions people, around 20% down was more typical. i assume that the management of these close to $1B endowment funds is more conservative than typical institutional investors.
  • SarumSarum Registered User Posts: 1,145 Senior Member
    I have heard from numerous trustees of different Boarding Schools that their mandate to finance those who cannot afford to attend will not change. If anything they will increase FA.
  • BenleyBenley Registered User Posts: 1,643 Senior Member
    Anyone knows the 2010 tuition of any other school?

    BTW, Yale increased its tuition by 4.8% this year, with a 10% increase in FA.
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