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PRINCETON UNIVERSITY
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Release: January 23, 1995
Contact: Jacquelyn Savani (609/258-5729)
1995-96 Tuition and Fees Rise 4.9 Percent For
Lowest Percentage Increase in 20 Years
January 21, 1995; Princeton, N.J.--The trustees of Princeton
University voted today to accept recommendations for next year's
operating budget which include a 4.9 percent increase in the cost
of a Princeton education, from $25,810 in 1994-95 to $27,076 in
1995-96. Tuition will rise 5.3 percent from $19,900 to $20,960,
and room and board 3.5 percent from $5,910 to $6,116.
The Priorities Committee (one of six charter committees of the
Council of the Princeton University Community [CPUC] with faculty,
student, and staff members) made recommendations for the 1995-96
budget in a report to President Harold T. Shapiro. The President
presented recommendations for a balanced budget to the board at
its quarterly meeting.
The operating budget for 1995-96 is $541.5 million, including $94
million for the Princeton Plasma Physics Laboratory provided by
the U.S. Department of Energy.
The budget for next year represents a high priority on continuing
to slow the rate of increase in tuition and fees. The Priorities
Committee report notes, "This is the fourth consecutive year that
the rate of increase has been reduced, and the resulting
percentage of 4.9% for FY96 is effectively the lowest tuition and
fee increase in more than twenty years."
In addition, the rate of the health fee for undergraduates will
remain the same as its current level of $680.
Tuition for graduate students will increase 5.3 percent from
$19,900 in 1994-95 to $20,960 in 1995-96. Housing costs for
graduate students will rise on average 3.5 percent, as will board
costs at the Graduate College.
Rents for faculty and staff housing in 1995-96 will go up an
average 2.1 percent. (This year's rents represent an average
increase over the previous year of 3.5 percent.)
One new initiative that received funding of $100,000 is a Summer
Scholars Institute, which is, according to the report, "designed
to encourage undergraduate students to remain in engineering and
the sciences." The program will accommodate approximately 35 to
40 students who, despite excellent qualifications for admission,
did not have access to advanced placement-level courses in math
and science in their secondary schools. These Summer Scholars
will take courses for credit in mathematics and writing and
participate in intensive mathematically-based workshops at
Princeton during the summer preceding their freshman year.
Among increases in existing budgets is aid to both undergraduate
and graduate students.
The undergraduate student scholarship budget will increase an
additional $1.4 million. That increase enables the University to
continue its policy of admitting students without regard to their
families' financial circumstances by awarding aid (including
scholarships, loans, and jobs) to meet the full extent of each
student's demonstrated need.
Similarly for graduate students, the fellowship budget will rise
by an amount sufficient to cover the tuition increase. Stipends
which accompany the fellowships will go up 3.5 percent.
Funds allocated for increases in staff and faculty salaries are
comparable to those that were available for the current year.
According to the Priorities Committee report, that level of
funding is "designed to sustain the gains made in recent years
that have helped Princeton continue to attract and retain
excellent faculty and staff."
Last year the Priorities Committee recommended a three-year effort
to reduce the number of authorized faculty positions. This year's
Committee noted "that the reduction of 22 FTEs in the number of
authorized FY95 Faculty Teaching Budget positions has gone a long
way toward bringing that budget into balance" and therefore
recommended no further cuts in teaching positions. Additional
funds for two faculty positions and eight full-time assistants in
instruction [get translation of AI] will enable "previously
planned growth in several departments without requiring offsetting
reductions in other areas," according to the report.
Though the Library's acquisitions budget will increase 3.2
percent, that increase is less than had been projected because of
the Library's success in exceeding the average annual acquisitions
goal set by faculty committees in 1978 and 1988. In addition, the
Library's budget for support of automated systems will rise five
percent and its general expense budget 3.5 percent.
In the Facilities area, additional funds of $70,000 will add three
short-order cooks to staff a new servery in Forbes College
comparable to those in Butler and Wilson colleges.
Other increases in budgets include:
- $23,000 for staffing in the Writing Program;
- $9,000 to train graduate students to teach;
- $15,000 for the Freshman Summer Orientation Program;
- $30,000 for a part-time position in the Internal Audit Office
of the Treasurer's Office.
Among requests not funded was a position to assist the Technology
Transfer Office with increased patent and licensing activity.
Though turning down the request, the Priorities Committee asked
the Provost to investigate whether projected licensing revenues
justified separate funding.
Another position not funded was for a fire marshal. The Committee
felt that this "potentially important investment" should await
results of a risk management study now underway.
In addition to the detailed recommendations for the 1995-96
budget, the Priorities Committee assesses the University's budget
outlook over three more fiscal years. Although judging the
prognosis for balanced budgets good, the Committee sounded a
strong cautionary note about future federal funding of research.