It’s pricier education.
Starting this fall, a number of prestigious universities in New England are set to charge a staggering $90,000 per year, with more institutions likely to follow suit. Boston University, Tufts, Wellesley, and Yale, renowned private colleges in the United States, are among those that will implement this nearly six-figure annual fee covering tuition, housing, and additional expenses, as indicated on the schools’ admissions websites.
Just six years ago, there was significant outcry when the annual costs at institutions like BU, Tufts, Harvard, and Amherst College surpassed $70,000. Since then, the expenses have continued to soar, causing financial strain on families.
According to reports, several colleges in New England, including Wellesley College in Massachusetts, are expected to adopt the \(90,000 per year fee. This marks a significant increase from the costs a decade ago, with Boston University’s total expenses for the 2024-2025 academic year reaching \)90,207, a 42% surge from ten years prior.
Similarly, Tufts University in Medford estimates a cost of attendance at \(91,888, while Yale University in New Haven, Connecticut, is projected to charge \)90,975 for the upcoming year. Other institutions nearing the $90,000 threshold include Brandeis University, Amherst College, and the Massachusetts Institute of Technology, reflecting the escalating trend in higher education costs.
Despite these exorbitant figures, many students are not expected to pay the full price, thanks to financial aid and scholarships. For instance, Boston University plans to allocate \(425 million in financial assistance for the next academic year, with need-based aid guaranteed for four years through BU Scholarship Assurance. Approximately 56% of BU students receive some form of financial aid, with an average aid package of around \)67,000, catering to the diverse financial needs of the student body.