My MBA Career – Exploring the High Tuition Fees at Elite New England Universities

Last Updated on March 28, 2024 by Robert C. Hoopes

Elite New England Universities to Charge Nearly $90,000 a Year for Tuition

In a trend that continues to rise, elite universities in New England are set to charge students almost $90,000 a year for tuition, housing, and other expenses starting this fall. Schools such as Boston University, Tufts, Wellesley, and Yale are among those that will be charging this almost six-figure sum, reflecting a significant increase in costs over the past decade.

Ten years ago, the total cost at Boston University was $63,644, but now it has jumped to $90,207 for the 2024-2025 academic year. Similarly, other prestigious schools like Tufts, Yale, Brandeis University, Amherst College, and Massachusetts Institute of Technology are also nearing the $90,000 threshold. Harvard, which charged $79,540 for the 2023-2024 academic year, saw the total cost rise to around $87,450 when additional expenses like books were factored in.

Despite these steep costs, most students will not pay the full price thanks to financial aid and scholarships. Boston University, for example, is offering $425 million in aid for the next academic year, with around 56% of students receiving some form of financial assistance. The average aid package at BU amounts to approximately $67,000, helping to alleviate the burden of the high tuition costs.

As the cost of attending these prestigious universities continues to climb, it remains crucial for students and their families to explore all available financial aid options to make higher education more accessible and affordable.