As 2001-2002 financial projections have trickled in from all corners of the Ivy League, Princeton has come in at the bottom of one category — expected increases in tuition costs next year.
The University's 3.0 percent projection is well below that of other Ivies.
The University of Pennsylvania and Cornell University are projecting the highest rates of tuition increase in the Ivy League, with 4.9 and 4.8 percent increases respectively. Harvard and Yale Universities are both expecting 3.5 percent increases, according to releases from the universities' news offices.
Amid increasing competition for qualified candidates, financial aid and tuition costs are increasingly viewed by universities as bargaining tools in admissions.
"The answer is we have better financial fundamentals than other institutions," University Vice President and Secretary Thomas Wright '62 said. "We have better rates of endowment growth too — which is fundamentally evident in our financial aid programs [and tuition growth rates]."
Wright added, "For a moment, Princeton is more competitive [than other schools in the Ivy League], until when they are able to follow."
A more competitive University, however, has not been the primary goal of the University Board of Trustees, though it is a welcome development, Wright said.
"The goal of the Board of Trustees is to make sure that access to Princeton is for everyone," Wright said. "We want to make that as clear as we possibly can. Finances should never be an obstruction. This lets people know that Princeton is the most accessible."
Other universities, either constricted by smaller endowments or burdened with large graduate school costs, may not be able to keep pace with the University's initiatives, Wright said.
"Princeton is more focused," he said. "Because of that, we can lower tuition and offer more financial aid. We really do have a sharper focus — other schools can't do what we can."
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