Undergraduate costs at Stanford University including tuition, room and board and a mandatory health fee -- will rise 3.5 percent next year, from $56,441 to $58,388, the university's board of trustees decided this week.
Broken down, undergraduates will pay $44,184 for tuition, $13,631 for room and board and $573 for a mandatory health fee.
A similar 3.5 percent increase was approved for most graduate and professional programs. Tuition for first-year students in the Graduate School of Business will go up 3.9 percent.
University leaders pledged to keep Stanford accessible through need-blind admission and a generous financial-aid program for students.
Currently, 50 percent of undergraduates receive need-based aid from Stanford and another 10 percent get athletic. Students whose parents earn below $100,000 a year pay no tuition, and those whose parents earn less than $60,000 a year pay no tuition or room and board charges.
"Stanford and its trustees continue to reaffirm their commitment to keeping a Stanford education affordable and to preserving access for the brightest undergraduates, regardless of their financial circumstances," Board of Trustees Chairman Steven A. Denning said.
Next year's tuition hike follows a similar 3.5 percent increase for the 2013-14 academic year that was announced one year ago this week.