by Lee Hogan
Posted 2/19/2014 11:12 am
Updated 7 months ago
Undergraduate rates at John Brown University of Siloam Springs will rise 3.42 percent in the 2014-15 academic year.
The decision, made by the university’s Board of Trustees, was announced in a news release Tuesday. University officials said the increase, which will raise student costs $1,060, is the lowest in more than 25 years.
The university estimated the actual impact would be about 2 percent on each individual student because of institutional support and new financial aid.
According to university numbers, the increase would raise tuition by $816, room and board by $206, and fees by $38. Total costs are set to increase to $22,552 for tuition, $8,468 for room and board, and $1,036 for fees, which brings the overall amount to $32,056. That figure is up from $30,996, university numbers show.
"JBU continues to be one of the best values in Christian higher education," Don Crandall, vice president for enrollment management, said. "Our price is lower than most of our peer institutions across the country."
The university also announced it was increasing the student aid budget by 3.5 percent in the next academic year. JBU awarded 214 scholarships worth $1.7 million from endowed scholarship funds, and another 565 scholarships worth $12.4 million from the university’s scholarship fund and other institutional funds.