Beginning in the Fall 2012 semester, Stevens undergraduate tuition will be $41,670. This is a 3.4 percent increase, versus the 4.9 percent that has been implemented over the last several years.
According to Randy Greene, CFO, Vice President for Finance and Treasurer, the University was able to reduce the rate of tuition increase for the upcoming academic year because Stevens is actively controlling expenditures in the face of increasing costs.
The driving factor that contributed to the upcoming tuition increase is a steady decrease in the level of federal and state support of the University over the past several years. Tuition increases for the upcoming academic year are expected at both public and private colleges and universities across the country – in large part in response to declining government support – continuing a steady trend in the cost of higher education over the past decade.
“We are mindful of the impact rising tuition costs have on Stevens’ families, and have worked hard to minimize the increase,” said Maureen Weatherall, Vice President and Chief Administrative Officer.
As costs rise, tuition increases allow Stevens to maintain and advance Stevens’ exceptional academic programs and world-class research experiences.
“It is important that the University remains highly competitive and that our graduates are well prepared to succeed in their chosen fields,” Weatherall added. “This is the reason so many of our students choose to attend Stevens, and we intend to continue to meet that goal.”
The quality and reputation of a Stevens education is advantageous to Stevens graduates, who fare extraordinarily well once they enter the workforce, as evidenced by placement rates that outpace the national average year after year. In 2011, Stevens was ranked in the top three percent of schools in the nation for return on investment (ROI) by the Bloomberg BusinessWeek study, “What’s Your College Degree Worth?” The study evaluated the payback value of a student’s undergraduate degree by comparing the cost of attending a school with how much its graduates earn.
"The Stevens degree, and all that it represents, is highly valued by employers,” said Lynn Insley, Director of Career Development. “Rigorous academics, high quality experiential education opportunities, and the strategic advantage of our geographic location is a powerful combination that few universities can match. The return on the investment in a Stevens education remains powerful."