On this leap day, Duke’s Board of Trustees approved a leap in tuition and total cost of attendance for next year at its Saturday business meeting.
Tuition for 2020-21 will be $58,085, a 3.9% increase from 2019-20, according to a news release. The total cost of attendance—which includes tuition, room, board and fees—will increase 3.7% to $76,270.
At last year's Board meeting, the trustees approved an identical 3.9% and 3.7% rise in tuition and total cost, respectively. At the time, the 3.7% increase was the lowest rate of increase for total cost in more than 20 years.
According to the release, Duke expects its financial aid investment to grow at a greater rate than the tuition increase, but estimates for spending won’t be available until after all aid packages are calculated. The average total financial aid package for eligible first-years this past year was $56,472.
“Over the past 10 years, the Duke has invested more than $1.3 billion in financial assistance for undergraduate students from all income levels,” the release stated.
President Vincent Price and Board Chair Jack Bovender were unavailable to speak to The Chronicle because the Board was on retreat for the weekend.
Engaging with the region
The trustees spent most of the weekend on a retreat to different locations around Raleigh, Durham and the Research Triangle Park. They met with other university leaders, businesspeople and researchers to discuss “regional economic development partnerships,” according to the release.
Trustees visited North Carolina State University’s Centennial Campus, got a report from the N.C. secretary of commerce and learned about different technology companies in the region like RTI International, United Therapeutics and the North Carolina Biotechnology Center.
The Board has been focusing all year on how Duke can make more money from commercializing its research. Further vitalizing the Triangle region as a research and business hub—anchored by Duke, the University of North Carolina at Chapel Hill, N.C. State and North Carolina Central University—is a major component of that mission.
Get The Chronicle straight to your inbox
Signup for our editorially curated, weekly newsletter. Cancel at any time.