News > November 3, 2005

By Ally Diljohn

Old Gold & Black Reporter

The university board of trustees voted to increase tuition by 6.4 percent at their Oct. 21 meeting, from $30,110 for the current year, to $32,040 for the 2006-2007 school year full-time undergraduate students. Part-time undergraduate student tuition was also raised by 6.4 percent to $1,250 per hour.

“Tuition was raised to meet the increasing expenses of providing the quality of education that Wake Forest offers,” said Kevin Cox, assistant vice president and director of media relations, speaking on behalf of university officials. 

Tuition accounts for 70 percent of the university’s expenses, while the endowment income and gifts to the university supplement tuition to cover the additional costs.

“Each year, there is an in-depth analysis of anticipated expenses before tuition is set,” Cox said.  Several factors contributed to the decision to raise tuition this year. Typical expenses include faculty salary and benefit increases and rising health care premiums.

Commercial and liability insurance premiums are other large and increasing expenses for which the university has to account, Cox said.

The university is also anticipating a large increase in the cost of heating due to oil prices that remain high. “Some experts are predicting a 25-50 percent increase in commercial premiums because of Hurricane Katrina,” Cox said.

Because the university has no tuition freeze policy, tuition has increased annually for decades, he added.

“No one likes to raise tuition, but everyone wants Wake Forest to continue to offer personal attention to students and a quality educational experience,” he said. 

In addition to a tuition increase, housing costs were raised between 4.6 and 6 percent. The exact housing increase is dependent on the exact residence and room type. Housing costs for summer sessions will also rise between 2.6 and 2.7 percent.

Housing increases are due to increases in maintenance and utilities. Supplies for the residence halls and housing also contribute to the increased fees.

Financial aid will also rise in accordance with the tuition increase.  According to a university official, financial aid was taken into consideration when determining the tuition for the coming year.

In 2004-2005, 66 percent of university undergraduate students received some form of financial aid. Half of those students received need-based aid.

Changes in tuition for the graduate and professional schools have not yet been determined. The actual budget for the 2006-2007 fiscal year will be determined by the board of trustees in the spring.

Despite the continual rise in tuition, the 2005-2006 Barron’s Profile of American Colleges ranks the university’s undergraduate tuition among the lowest of the nation’s “most competitive” private institutions. The university has the sixth lowest tuition of the 56 schools listed. 

Within the past five years, undergraduate tuition has increased almost $10,000. During the 2000-2001 school year tuition was $22,410, according to numbers provided by the university controller’s office.

In the past five years, tuition has increased between 5.0 and 6.5 percent annually. The average increase has been $1,472. Graduate and professional school tuition has risen once during the same period.