Over all tuition will increase by more than $1,000 with a 3.42 percent increase in the 2014-2015 academic year.
This is the lowest percentage increase in the past 25 years, but the total cost for students has increased 35 percent since 2003-04, after correcting for inflation.
The greatest increase in that amount of time was tuition with 36 percent followed by room and board with a 32 percent increase and fees with 28 percent.
“JBU continues to be one of the best values in Christian higher education,” said Don Crandall, vice president for enrollment management, in a press release released by the University. “Our price is lower than most of our peer institutions across the country, and U.S. News has ranked us the best value among all Southern colleges for the second year in a row.”
The percentage of students who received some form of financial aid also increased from 85 to 91 percent in the last year.
The off-set of costs to students because of this financial aid means students are likely to only experience an actual cost increase of about 2 percent according to Kimberly M. Hadley, Vice President for Finance and Administration.
The University will be increasing their institutional support budget 3.5 percent in the 2014-15 academic year to also help with university costs.
“We are blessed and deeply grateful to have many generous supporters who give joyfully to scholarship endowments and our annual fund,” said Jim Krall, Vice President for Advancement in the same press release. “JBU has a long tradition of helping students with financial challenges attend college, and because of the strong support of our alumni and friends, that tradition continues today.”
While the cost of a private university education has continued to climb, the hike has not been as steep as others have experienced.
Private colleges and universities have increased at a rate of 2.1 percent between the 2003-04 and 2013-14 academic school years. During the same time period public schools have increased at a 3.2 percent increase, according to the Consumer Price Index published by CollegeBoard.
A graph published in a pamphlet given to on-campus students showed the national average for private schools to be well-above John Brown, but no source was given with the graph.