Private colleges hike tuition lowest amount in 40 years
Here’s the bad news: Tuition at 445 of the nation’s private colleges and universities increased on average about 4 percent this year compared with last year’s tuition.
The slightly better news: That’s the lowest annual increase in at least 40 years, according to figures the National Association of Independent Colleges and Universities released this week.
A sampling of Chicago-area private schools shows a similar increase in tuition here. Roosevelt University’s full-time undergraduate tuition rose from $25,000 in 2011-12 to $25,950 this academic year — a 3.8 percent increase. The University of Chicago’s tuition jumped up 4.1 percent, from $41,853 to $43,581. One institution that saw no change is National Louis University, where tuition remained at an average of $16,889.
“Students and families are increasingly price- and value-conscious,” said NAICU President David L. Warren. “Private college leaders are listening, and working hard to keep students’ out-of-pocket costs as low as possible and provide the best value for the tuition dollar.”
According to NAICU, 24 private institutions froze tuition this year and others have committed to holding prices stable for all four years a student is enrolled.
The list price at private colleges remains substantially higher than at public schools — $29,230 this fall, compared to about $8,000 last year at public institutions; those figures don’t include room and board.
Here are some other area institution tuition amounts:
DePaul University: 2011-2012: $30,000; 2012-13: $30,750; up 2.5 percent.
Lewis University (Romeoville): 2011-12: $24,770; 2012-13: $25,770; up 4 percent.
Lake Forest College (Lake Forest): 2011-12: $36,280; 2012-13: $37,660; up 3.8 percent.
Northwestern University: 2011-12: $41,592; 2012-13: $43,380; up 4.3 percent.