University announces tuition increase for 2024-2025, largest in last decade
Washington University students and parents were notified of a tuition increase for the 2024-2025 academic year on Feb. 1. The cost is a 4.5% increase from the current year, making it the highest tuition increase in the past 10 years.
Amy Kweskin, executive vice chancellor for finance and chief financial officer, announced that undergraduate tuition will be raised by $2,750 to $64,500.
Other price increases include campus housing, which will increase by a range between $594 and $690 per year (depending on type of occupancy and location), as well as the student activity and health and wellness fees, which will increase by $28 and $30, respectively.
The College Board reported that the private four-year institutions increased tuition by an average of 4% for the 2023-2024 year.
In a letter to families, Provost Beverly Wendland wrote that the University uses the money it receives from students to better University programs and initiatives.
“Your tuition dollars fund vital resources such as the new Center for Career Engagement, infrastructure that supports student research and programs that prepare our graduates to meet the challenges of the workplace and society,” she wrote.
Wendland also reported that the endowment, after returning 65% in 2021, has had two consecutive years of negative returns. “Despite the declines, we remain fully committed to the Gateway to Success financial aid and student support initiative,” Wendland wrote.
Students who qualify for need-based financial assistance will continue to receive consideration for cost increases. Wendland also highlighted the no-loan initiative, which the University will implement next fall, eliminating federal loans from financial aid packages.