Duke will come with a 4 percent bigger price tag next year.
In addition to approving a master's program in management studies, The Board of Trustees approved a 4.3 percent increase to undergraduate tuition at its meeting today. Undergraduate tuition will be $40,665 in 2011-2012, up $1,670 from last year. Total cost of attendance will rise 3.9 percent to $53,905 including room, board and fees, a $2,040 increase from this year and more than a $10,000 increase from the cost of attendance in 2006-2007.
The increase in tuition will likely fund an increase in salaries and fringe benefits for faculty and staff, ending a two-year salary freeze. The Board will vote on compensation increases at its May meeting.
The Trustees reaffirmed their commitment to financial aid and need-blind admissions, according to a Duke news release, but did not include a specific expansion of funding for financial aid. Estimates for financial aid costs for next academic year have not yet been finalized, the release stated, but the University expects to spend $10.4 million more institutional funds on financial aid in 2010-2011 than in 2009-2010.
Trustees also approved tuition increases across Duke's graduate and professional schools, most notably by 9.3 percent in the School of Nursing to $46,620. The other schools had increases of between 2.8 and 5.9 percent. The rates for all schools are listed in the Duke News release.
The Fuqua School of Business will offer the Master of Management Studies degree on a permanent basis. The 10-month program, which had been operating on a trial basis the last two years, has had an 80 percent employment rate three months after graduation for those seeking jobs.
Although a Duke news release noted that the Trustees continued their discussion of the plans for Duke's campus in Kunshan, China and "approved a number of steps" to allow Duke to submit an application in March to the Chinese Ministry of Education to open the campus, it does not provide specifics of what was discussed or approved.
Look for more details in The Chronicle about the Trustees' meeting Monday.
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