Board Approves 2022 Budget Parameters

Cornell’s Board of Trustees approved parameters for the university’s 2022-2023 budget, including tuition for the upcoming academic year.

Tuition fees for undergraduates will increase between 3.6 and 3.9%, while financial aid in the form of scholarships will increase by 8.4% – a record investment of $322 million to ensure that a Cornell education remains accessible to students from all walks of life.

Funding for grants, which students do not need to repay, has more than tripled over the past 20 years, making Cornell more affordable for students receiving financial aid today than two years ago. decades. About half of undergraduate students receive Cornell scholarship-based aid, which also covers room, board, and incidentals. The median Cornell grant in 2021 was $47,563.

“Cornell is committed to ensuring that we remain accessible to students of all socioeconomic backgrounds,” said President Martha E. Pollack. “We continue to invest in financial aid as a key part of our fundamental commitment to inclusion and as an essential part of maintaining our academic excellence.”

Cornell has also made affordability a central part of its ambitious $5 billion “To Do the Greatest Good” campaign. The campaign aims to increase the number of undergraduate students eligible for aid by 1,000, reduce average undergraduate student borrowing and exempt those with limited financial resources from an income requirement of summer work, allowing more students the freedom to pursue unpaid research or other pre-professional opportunities. .

“These investments ensure that we continue to make Cornell’s academic excellence and unparalleled student experience accessible to ‘everyone,'” said Provost Michael Kotlikoff.

Undergraduate tuition for 2022-23 will be $62,456, an increase of 3.6%, or $2,170, for unaided out-of-state students attending one of the colleges of Cornell, and for unaided New York State residents attending endowed colleges: the College of Architecture, Art, and Planning; the College of Arts and Sciences; the Cornell SC Johnson College of Business; and the College of Engineering.

For New York State undergraduate unaided residents attending contract colleges – the College of Agriculture and Life Sciences, College of Human Ecology, and School of Industrial Relations – tuition fees tuition will be $41,958, an increase of 3.9%, or $1,576.

All Cornell undergraduate students receive need-based financial aid that covers tuition, room and board, and other attendance costs. For most high-need students, the increased Cornell scholarships will offset any increased costs, said Jonathan Burdick, vice provost for enrollment.

“Increases in scholarship aid are expected to cover all additional costs of attendance — housing and meals as well as tuition and fees — for U.S. students whose financial circumstances are unchanged from last year. “, Burdick said.

The overall average increase in housing and catering for the 2022-23 academic year is 3.9%. This includes a 4.7% or $464 increase in housing costs to $10,426; and an increase of 2.75%, or $178 for meals, to $6,612. With the increased residential capacity offered by the North Campus Residential Expansion Project, beginning in fall 2022, all freshmen and sophomores will be required to live on campus and have meal plans.

Tuition fees for master’s degrees will increase between zero and 9%, depending on the degree, with most increasing by 3.6%. The tuition hike for law, veterinary medicine and MBA degrees also varies, but caps at 3.6%. Doctoral tuition fees remain unchanged.

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