The News Service
Corporation sets tuition and fees, approves budget for 2004-05
Overall charges for undergraduates at Brown University will rise to $39,808 for the 2004-05 academic year, an increase of 4.9 percent. That figure includes tuition of $30,672, an increase of 5 percent. (See also news release 03-082.)
PROVIDENCE, R.I. — At its regular winter meeting today (Saturday, Feb. 28, 2002) the Corporation of Brown University set tuition and fees for the 2004-05 academic year, determined other revenue sources for the year, and approved a total Education and General budget of $414.3 million for fiscal year 2005.
Total undergraduate tuition and fees will rise 4.9 percent to $39,808. That includes tuition of $30,672 (up 5 percent), standard room charges of $5,302 (up 5.4 percent), a standard 20-meal plan of $3,172 (up 3.5 percent), a health fee of $526 (up 3.1 percent), and a student activities fee of $136 (unchanged). Graduate tuition will rise 5 percent.
The undergraduate financial aid budget will increase by 8 percent over projected financial aid expenses in the current academic year.
The Corporation approved an endowment draw of 5.3 percent, a figure that will provide an additional $2.4 million in endowment income to the revenue budget, an increase of 4 percent. The endowment draw is a percentage of the endowment value that will be available to the revenue budget, based on a 12-quarter rolling average of the endowment’s market value.
The Corporation also approved an investment of up to $56 million from reserves and other unrestricted funds to support the initial phases of the Plan for Academic Enrichment over the next six years. Revenue growth as a result of a major fund-raising campaign, together with other steps outlined in the plan, will allow the University to eliminate the need for such special funding after the six-year period.
The fiscal-year 2005 Education and General budget of $414.3 million, which the Corporation approved today, represents an increase of $29.6 million over fiscal 2004, a 7.7-percent increase. Budget recommendations, including recommendations on tuition and fees and the endowment draw, are developed by the University Resources Committee, a 15-member body of faculty, students and administrators. The URC is chaired by the provost.
“Throughout its deliberations and discussions, the committee recognized that the demands on the University’s budget for the next fiscal year will be significant,” the URC wrote in its report. “The committee’s recommendations support the University’s need-blind undergraduate admission process, continuing a significant achievement under the Program for Academic Enrichment, and also provide greater levels of support for graduate students in fiscal year 2005.”
Recent history of tuition and fees at Brown University