With inflation still affecting costs and forcing price hikes all across the economy, grocery store and gas station patrons aren’t the only ones experiencing sticker shock these days.
With the coming of spring bringing the arrival of college acceptance letters, students who are planning to enter the nation’s most prestigious universities are getting an unwelcome surprise as well: Tuition costs at several Ivy League schools are approaching $90,000 per year.
So much for pulling yourself up by your bootstraps and paying your way through school with a part-time job.
Cornell University’s recent price increase places it as the most expensive Ivy League institution, with the tuition increase combining with board and other college expenses to total between $86,000 and $87,000 per year.
Yale and Stanford are also closing in with totals at $83,000 and $82,000 per year, respectively.
To counter the surprise an incoming student might feel at the price tag of their ensuing education, the schools tout the financial aid and scholarship opportunities they offer.
“The cost of attendance is often not the price a student will pay to attend Cornell. All Cornell undergraduates applying for financial assistance are reviewed for need-based financial aid that covers tuition, housing and dining, as well as other costs of attendance,” Cornell University said in a statement.
“Yale’s need-based financial aid awards always increase in lockstep with any increases in the term bill,” said Jeremiah Quinlan, dean of undergraduate admissions and financial aid at Yale University, told The Hill.
“I am proud that Yale is one of only a small handful of institutions that meet 100% of all families’ demonstrated financial need without requiring students or parents to take out loans.
For context, the cost of a year at Yale just 10 years ago was $57,000, according to the Yale Alumni Magazine.
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