Financial aid funding in the College is rising by 8.6 percent to nearly $153 million in institutional grants and scholarships.
The University of Rochester’s Board of Trustees has approved the College tuition rates, housing and food fees, and financial aid increases for the 2023–24 school year. Tuition for undergraduates in the College will increase by 4.3 percent over last year to $63,150. Housing and food will increase 3.8 percent to $18,714.
Each year, the Board of Trustees is presented with a proposal for determining the annual tuition rates based on a careful evaluation of available revenue sources, projected operating costs and efficiencies for the new year, and the expected number of enrolled students. Tuition increases are a balance between the University’s ability to provide the best educational experiences for students and holding down costs, especially during times of increased inflation. Tuition dollars support a wide range of programs, services, and facilities that benefit all Arts, Sciences & Engineering undergraduates in the College, regardless of whether students live on or off campus.
Keeping Rochester’s commitment to access and affordability
This year, financial aid funding in the College is rising by 8.6 percent to nearly $153 million in institutional grants and scholarships. This reflects Rochester’s commitment to offsetting the tuition increase for students and families who demonstrate financial need. Overall, more than 73 percent of undergraduates in the College receive some amount of financial aid, with the average need-based financial aid package being about $49,000 per year, most recently in 2022–23. Rochester is one of very few private institutions committed to meeting 100 percent of demonstrated financial need for all students who earn admission to the College. This is in addition to offering a merit aid program, which helps make a Rochester education more accessible to high-achieving students who come from families that don’t qualify for need-based aid.
Rochester’s robust financial aid programs have resulted in national recognition for higher education affordability, including being ranked No. 25 this year among National Universities in US News & World Report’s “Great Schools, Great Prices.” Less than half of College undergraduates take out any form of loan by graduation, and the average debt among those in the Class of 2022 who did borrow was approximately $28,651, with $19,911 of that being federal loans. In 2022–23, more than $207 million in total aid—the combination of grants, as well as loans and scholarships from federal, state, and institutional sources—was awarded to undergraduates in the College.
As additional tools for comparison, students and families can view the University’s costs, financial aid, and other institutional figures on the US Department of Education’s College Navigator website. The University’s Office of Financial Aid and Scholarships provides an online cost estimate calculator to help students and families plan for a degree program, and financial aid officers are available to meet virtually with individuals to discuss their financial needs.
Approved tuition rates at the University’s schools
The Board of Trustees also approved the following 2023–24 tuition rates for the University’s schools, with complete information found online at the Office of the Bursar’s website:
Eastman School of Music:
- Undergraduate: $63,150, a 4.3 percent increase (housing and food will be $18,712)
Simon Business School
- MBA: $52,500, a 5 percent increase
- MS Finance: $85,500, a 2.4 percent increase
- MS Accounting: $65,000, no increase
- MS Business Analytics and Marketing Analytics: $73,000, a 2.8 percent increase
School of Nursing’s three-semester accelerated program: $78,820, a 2.8 percent increase
Warner School of Education and Human Development (per credit hour): $1,736, a 4 percent increase
School of Medicine and Dentistry (MD program): $68,230, a 3.5 percent increase
