Trustees approve new tuition rates for 2014-15 academic year

The Board of Trustees approved a 3.9 percent increase in tuition for the 2014-15 academic year.

At their meeting in Palo Alto, the trustees raised tuition from $44,020 this year to $45,800 for next year, according to a Duke News press release. The full cost to attend the University—which includes tuition, room, board and fees—will therefore increase from $58,278 this year to $60,533. The Board also increased tuition by 3.9 percent at their February meeting last year.

Estimates for financial aid costs will not be finalized until later in 2014, the press release said, adding that the amount Duke spends on financial aid has increased by 31 percent since 2009-10.

The cost of tuition to attend of all Duke's graduate schools have also increased by 3 to 5 percent.

The cost of tuition at the Divinity School increased by 4 percent to $20,680; the Fuqua School of Business tuition increased 4.9 percent to $58,000; the Graduate School tuition increased 4 percent to $45,760; the Law School tuition increased 3.5 percent to $54,460; The Nicholas School of the Environment tuition increased 3.5 percent to $32,900; The Pratt School of Engineering master of engineering management program tuition increased 4 percent to $45,780; the Sanford School of Public Policy master's of public policy tuition increased 3.5 percent to $40,011; the School of Medicine tuition increased 3.9 percent to $51,888 and the School of Nursing tuition increased 4.9 percent to $40,365.

Check back for updates to this developing story.