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Yale to raise fees

The new estimated cost of attending Yale College will be $52,900, Yale spokesman Thomas Conroy told Bloomberg News. To make up for the fee increases, Yale’s financial-aid budget is expected to increase by 10 percent, with an average scholarship of $35,000 for the upcoming year.

Though tuition and fee increases are normal from year to year, the relatively large size of Yale’s increase in fees is due to the massive drop in Yale’s endowment, which fell from $22.9 billion to $16.3 billion in the 2009-10 fiscal year.

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Yale President Richard Levin explained that the university tried to limit fee increases when its endowments were “growing rapidly.” But, Levin noted, those who pay the full tuition will still pay less than the total cost of attending Yale.

Yale’s fee increases mirrored those approved by Princeton’s trustees last month. Princeton’s tuition, room and board fees will increase 3.3 percent for the 2010-11 academic year, from $47,020 to $48,580. Princeton’s financial-aid budget will also increase by 9.6 percent.

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