Texas Christian University in Fort Worth is raising the price of admission for the 2020-21 academic year.
Last week, the board of trustees set next school year's tuition at $51,570, which is 4.9% higher than this year's rate of $49,170.
In order to match the increased tuition, need-based financial aid is expected to increase as well, but merit-based scholarships will not.
TCU Chancellor Victor Boschini said that future tuition increases would likely be less than the increases seen in recent years, which were in the 5%-6% range.
TCU's largest tuition increase occurred in 2012, when the price of attendance went up 8%. Since 2017, tuition increases have stayed around 4.9%.
Boschini said that stabilizing tuition was part of an ongoing sustainability effort by TCU's board of trustees. Boschini also said though the school would try refrain from increasing tuition in the future, it was unlikely that it would be cut, because everything on campus is funded by tuition.
Even though tuition has increased in recent years, Boschini said that students have not always been impacted by the price jump. Every time tuition has been raised, need-based financial aid has been raised by the same amount.
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Boschini said that problems arise for students only on merit-based scholarships because that form of financial aid does not increase at the same rate as tuition.
