The Corporation will meet February 10 to determine the final tuition, room and board increases for the next academic year, Melissa D. Gerrity, assistant dean of the Faculty for financial affairs, said yesterday.
University officials said in November that, due mainly to inflation, they expect increases of 12 to 15 per cent above last year's total of $10,540, boosting the cost for a year at the College above $12,000.
Although inflation decreased significantly last year--from a 12.4-per-cent rate in 1980 to 8.9 per cent in 1981--student fees continue to rise at a quicker pace than inflation. "As long as endowment income is distributed at a rate that will not keep pace with inflation, student charges will go up faster than inflation," Thomas O'Brien, the University's financial vice president, said after the University's annual financial report was released earlier this year.
University income stems from several sources, including government funds for educational and research programs, gift income, student charges and the endowment. Student fees, which last year contributed 30 per cent of University revenue, represent the only highly flexible source of income.
"Tuition continues to provide an increasing share of income to compensate for lower rates of growth in other income sources," the report stated.
Up, Up and Away
Tuition, room and board costs have risen steadily--from a 7.3-per-cent rise in 1977 to 14.9 per cent last year--due mainly to double-digit inflation rates and skyrocketing energy prices, Harvard officials said.
This year's probable drops in inflation and a stabilization of energy costs may be offset by the College's November decision to boost faculty salaries, officials said recently. House and building renovations may devour the remainder of the savings from moderated energy and inflation-related costs.
Next year's projected increase in charges for students of the College are comparable to those at other Ivy League institutions.
University of Pennsylvania officials projected a 15-per-cent increase; Princeton officials have set a 14.7-per-cent hike; and Yale administrators expect about a 13-per-cent rise.