Ivy League school rolls out largest tuition hike in six years

Ivy League school rolls out largest tuition hike in six years
CPI up 3 percent, but Princeton raises prices by nearly 5 percent
JAN 18, 2012
By  John Goff
Undergraduate tuition and fees to attend Princeton University will rise 4.5 percent for the 2012- 2013 academic year, the biggest increase in six years. Tuition will be $38,650, up from $37,000 in the current year, the Ivy League school in Princeton, New Jersey, said today in a statement. Room costs will increase 5.4 percent to $6,950 from $6,596 and board will climb 3.8 percent to $5,680 from $5,473. The increase in tuition and fees at Princeton exceeds the benchmark U.S. inflation measure. The consumer price index rose 3 percent in the 12 months ended in December, according to the U.S. Labor Department. Surging tuition costs nationwide over the past decade led the Obama administration last week to announce plans to help make colleges more affordable. “The University accordingly must continue to seek creative ways to find efficiencies and reduce expenditures,” Provost Christopher Eisgruber said in a statement. RELATED ITEM Top-performing 529 plans » The increase is the largest since the 2006-2007 academic year, when costs rose 4.9 percent. Last year, the school raised tuition and fees by 1 percent. Princeton's endowment was valued at $17.1 billion as of June 30, making it one of the largest in U.S. higher education after Ivy League rivals Harvard University and Yale University. Princeton was founded in 1746 as the College of New Jersey. Alumni include first lady Michelle Obama and U.S. Supreme Court Justices Samuel Alito Jr., Sonia Sotomayor and Elena Kagan. --Bloomberg News--

Latest News

Farther debuts AI investment proposal tool for advisors to win clients
Farther debuts AI investment proposal tool for advisors to win clients

"Im glad to see that from a regulatory perspective, we're going to get the ability to show we're responsible [...] we'll have a little bit more freedom to innovate," Farther co-founder Brad Genser told InvestmentNews.

Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler
Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler

Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.

Are you optimally efficient?
Are you optimally efficient?

Taking a systematic approach to three key practice areas can help advisors gain confidence, get back time, and increase their opportunities.

Advisor moves: Father-son duo leaves Raymond James for LPL, RayJay adds Merrill Lynch alum in Florida
Advisor moves: Father-son duo leaves Raymond James for LPL, RayJay adds Merrill Lynch alum in Florida

Meanwhile, Osaic lures a high-net-worth advisor from Commonwealth in the Pacific Northwest.

Beacon Pointe adds six RIAs in two-month acquisition spree, boosting AUM by $2.7B
Beacon Pointe adds six RIAs in two-month acquisition spree, boosting AUM by $2.7B

The deals, which include its first stake in Ohio, push the national women-led firm up to $47 billion in assets.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.