The Syracuse University Board of Trustees approved a 3.6 percent increase in tuition for the 2012-13 academic year as well as a 5.7 percent increase in undergraduate financial aid.

The Board convened Saturday for its annual meeting. As the governing body of the university, the Board is legally responsible for managing and protecting the university’s physical assets.

This projected 3.6 increase would bring tuition to $37, 610 and total cost of attendance to $55,600. This year’s increase is down from the 3.8 percent tuition rise for the 2011-12 academic year. The 3.6 percent increase is also the lowest increase in 46 years, Kevin Quinn, vice president for public affairs at SU, said in an email.

The Committee on Budget and Fiscal Affairs outlined the increase in tuition in its report to the University Senate on Feb. 15. The additional cost — approximately $1,307 — will go toward student services such as reducing class sizes, facility maintenance and a move to more digital library resources.

SU will look to reduce the rate even further to 3 percent during the next several years.

The increase in financial aid brings total aid to $204 million annually.  Since the 2007-08 academic year when aid was $134 million, total SU institutional undergraduate financial aid has increased 52 percent.

dmsegelb@syr.edu

Published on May 12, 2012 at 12:00 pm

Contact Dylan: dmsegelb@syr.edu | @dylan_segelbaum