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Total Undergraduate Charges: 4.8 Percent Increase for 2003-2004

Total undergraduate charges for tuition, fees, room and board at Penn will increase 4.8% for the 2003-2004 academic year from $36,212 in 2002-2003 to $37,960 in 2003-2004. The increase was approved on Friday by the Trustees.

Tuition and general fees for undergraduate students for the 2003-2004 academic year will increase 4.8%, from $27,988 to $29,318; average room and board charges will increase 5.1%, from $8,224 to $8,642, yielding an increase in total charges of 4.8%.

Total charges at Penn for the 2003-2004 academic year are in line with those at other institutions in the Ivy League, based on charges already announced at Brown, Cornell, Dartmouth and Yale. (See charts below).

"Despite the challenges we are facing in these uncertain economic times, we have remained committed to keeping tuition increases as low as possible, while at the same time continuing to offer our students an education that is among the very best available," said President Judith Rodin. "Furthermore, our need blind admissions policy maintains our commitment to keeping a Penn undergraduate education accessible to the best and brightest students in the nation and in the world regardless of their economic circumstances."

"In the coming year, Penn will continue its long-standing policy to admit students based on academic achievement, without regard for their ability to pay," Dr. Rodin said. For those students who matriculate with a demonstrated financial need, Penn creates financial aid packages that meet the full extent of the students' need for a full four years.

"The University is projecting an increase of 7.5 % in its need-based undergraduate grants and scholarships in the coming year," Dr. Rodin said. Since 1997-1998, the percentage of the average freshman aid package met by grants has increased from 67.7% to 76%, while the average loan as a percentage of total aid has declined from 22.9 % to 13.8%. The average freshman grant increased by 39% during this same period.

Roughly 30% of the University's aided freshmen will have their need met without any expected student loan.

Penn will continue, for the fourth year, the Summer Savings Waiver Program, which provides grants to offset the normal summer self-help work contribution requirement of students who participate in unpaid or low-paying community service or career-related activity over the summer.

Penn continues to experience exceptional demand from the nation's top high school graduates, receiving 18,797 applications for 2,385 places in its undergraduate program.

Penn's resources are dedicated to achieving the goals of Building on Excellence: The Leadership Agenda, the University's guidelines for excellence through 2007. These include:

  • Continuing recruitment of top faculty in social science, physical science, information science and the humanities.
  • Building upon Penn's special strengths to develop academic priorities that will include urbanism, the life sciences, technology innovation, a global strategy and innovative, interdisciplinary cultural programs and curricular development.
  • Sustaining excellence in all undergraduate education programs, through continued enhancements to Penn's innovative College House undergraduate residential living-learning program, in which undergraduate houses are led by resident faculty members and academic support services and student-led co-curricular programs are organized and provided in residence.
  • Defining the future of education by adapting Penn's pedagogical methods to the learning needs of current and future generations.
  • Developing further the physical, financial, operational and entrepreneurial capacities to sustain the academic enterprise.

Academic Year 2003-2004
Undergraduate Tuition, Fees and Room & Board Increases


Approved
2002-2003
Approved
2003-2004
Increase
%Change

Total Charges

$36,212 $37,960 $1,748 4.8%

Tuition

$25,078 $26,282 $1,204 4.8%

Fees

$ 2,910 $ 3,036 $ 126 4.3%

Room & Board*

$ 8,224 $ 8,642 $ 418 5.1%

* 2002-2003 based on average standard room and average meal plan

Comparative Basis on Change in Room and Board Charges


Restated Basis
2002-2003
Approved
2003-2004
Increased %Change

Total Charges

$36,480 $37,960 $1,480 4.1%

Tuition

$25,078 $26,282 $1,204 4.8%

Fees

$ 2,910 $ 3,036 $ 126 4.3%

Room & Board*

$ 8,492 $ 8,642 $ 150 1.8%

* 2002-2003 based on median room and Platinum meal plan

 

Undergraduate Total Charges Annual % Change

.

99-00/
98-99

00-01/
99-00

01-02/
00-01

02-03/
01-02

03-04/
02-03 *

.

Av. Ann. Chg.
1999-2004

Washington

5.5%

3.5%

6.5%

6.6%

5.5%

7.2% B

5.5%

Northwester

4.2%

5.0%

5.0%

5.8%

5.5%

. 

5.1%

Stanford

3.6%

4.9%

5.5%

4.9%

4.9%

. 

4.8%

Cornell

4.3%

4.6%

4.9%

5.6%

4.1%

5.3% B

4.7%

NYU

3.7%

4.4%

4.9%

5.3%

4.6%

   

M.I.T

3.6%

4.2%

3.7%

4.6%

6.2%

 

4.5%

Johns Hopkins

3.9%

5.0%

4.8%

4.3%

4.6%

 

4.5%

Chicago

3.7%

4.3%

4.4%

5.1%

   

4.4%

Georgetown

3.6%

4.0%

4.6%

5.0%

  .

4.3%

Penn

3.7%

3.4%

4.9%

4.6%

4.8%

4.1% A

4.3%

Dartmouth

3.8%

3.8%

3.8%

4.4%

5.0%

 

4.2%

Columbia

3.9%

3.6%

3.8%

4.4%

4.0%

   

Duke

3.2%

3.7%

4.2%

3.9%

5.0%

 

4.0%

Brown

3.9%

3.9%

3.6%

4.6%

4.4%

 

4.1%

Harvard

3.3%

2.9%

3.5%

4.9%

3.7%

   

Princeton

3.5%

3.3%

3.4%

4.0%

4.5%

 

3.7%

Yale

2.9%

2.9%

3.5%

3.9%

4.6%

 

3.6%

16 School Average (excluding Penn)

4.8%

 

4.4%

13 School Average (excluding Penn, Harvard, Yale, Princeton)

5.0%

 .

4.5%

*Before/After restated charges

 

Academic Year 2003-2004
Peer Institution Undergraduate Charges Comparison


2002-03
Total

2003-04
Total

%Change vs.
2002-03

Washington U.

$36,869

$38,909

5.5%

NYU

37,076

38,744

4.5%*

Columbia

36,752

38,406

4.5%*

Chicago

36,698

38,349

4.5%*

M.I.T.

36,060

38,310

6.2%

Cornell

36,767

38,283

4.1%

Georgetown

36,545

38,190

4.5%*

Penn

36,212

37,960

4.8%

Brown

36,356

37,942

4.4%

Johns Hopkins

36,220

37,888

4.6%

Stanford

36,123

37,875

4.9%

Dartmouth

35,988

37,770

5.0%

Harvard

35,950

37,568

4.5%*

Duke

35,765

37,555

5.0%

Northwestern

35,505

37,491

5.5%

Yale

35,370

37,000

4.6%

Princeton

35,132

36,709

4.5%

 

.

Before/
After
Restatement

2003-04 Tuition/Fees

2003-04 Room/Board

Washington U.

7.2% Before

$29,053

$9,856

NYU

.

.

.

Columbia

.

.

.

Chicago

.

.

.

M.I.T.

.

29,600

8,710

Cornell

5.3% Before

28,754

9,529

Georgetown

.

.

.

Penn

4.1% After

29,318

8,642

Brown

.

29,846

8,096

Johns Hopkins

.

28,730

9,158

Stanford

.

28,802

9,073

Dartmouth

-

29,145

8,625

Harvard

.

.

.

Duke

.

29,345

8,210

Northwestern

.

28,524

8,967

Yale

.

28,400

8,600

Princeton

.

28,600

8,109

* Not yet announced. 2003-04 Total is based on 4.5% projected increase.

 

FY 2003 Academic Budget: Total Revenue by Source

Pie Graph

 


  Almanac, Vol. 49, No. 26, March 25, 2003

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