Cost to attend Brown will top $70,000 next year

PROVIDENCE, R.I. (WPRI) – Brown University said Sunday it will raise its tuition and fees once again in the new school year, pushing the cost to attend the Ivy League school above $70,000 for the first time.

The Corporation of Brown University, the school’s governing body, voted over the weekend to set undergraduate tuition at $54,320, room and board at $14,670, and other fees at $1,236.

The grand total: $70,226. That’s up 4.1% from this year’s total of $67,439 and an increase of nearly half since 2008, when it was $47,740.

Tuition makes up about 65% of Brown’s main budget, and university officials said in a news release their budget-writing committee still “strives to keep tuition increases as low as possible.” They also said the budget for undergraduate financial aid will jump nearly 11% to $135 million next year, reducing the cost for many.

“We remain steadfast in our commitment to ensuring that a Brown education is accessible for every one of the exceptionally talented students admitted,” Richard Locke, Brown’s provost, said in a statement. He added that they want to “ensure that the best and brightest students from across the globe know that Brown is an affordable choice.”

Brown’s annual budget will total $1.1 billion in the 2018-19 academic year. The school’s endowment, currently valued at more than $3.5 billion, will cover about $124 million of the budget. Brown also said its two-year-old BrownTogether fundraising campaign has raised $1.64 billion toward its goal of $3 billion.

Ted Nesi (tnesi@wpri.com) covers politics and the economy for WPRI.com. He is a weekly panelist on Newsmakers and hosts Executive Suite. Follow him on Twitter and Facebook