UD To Raise Tuition 5%, Even With Surprise Surplus

UD WILL RAISE TUITION 5% FOR THE 2023-2024 SCHOOL YEAR.

The University of Delaware’s board of trustees voted Tuesday to raise tuition 5% for the 2023-2024 school year for all graduate and undergraduate students.

In the board’s semi-annual meeting, it announced the cost hikes were a result of general inflation and increased costs of operations.

For in-state residents, tuition will be $14,040 a year and for non-residents it will be $37,680. Those wanting to live and dine on campus will pay another $15,176 a year.

UD will also increase educator’s compensation by 4%.

The university has 329 active construction projects, and its capital project budget for next fiscal year will be $149.8 million. Construction on Building X, $60 million, and east campus utility work, $17 million, make up a large portion of UD’s budget.

UD President Dennis Assanis also announced an unexpected operating budget surplus of $25 million. He said the school expected a $5 million surplus.

UD’s operating margin was between 2% and 3%, slightly higher than expected, although Assanis wants next year’s operating margin to be around 5%.

He said the university has hired 90 faculty members for next year, and UD is still looking to hire 58 additional faculty members by fall.

Although UD will have 43 fewer doctoral students next year, dropping from 499 to 455, it will have 353 more students in master’s programs, rising from 953 to 1,296.

Its incoming freshman class of undergraduates is expected to be 4,335, a few hundred less than 2022’s incoming class of 4,829. Among those, 1,250 of the 4,335 first-years are Delawareans, 997 less than last year’s freshman class, and 1,052 of the 4,335 are from minority backgrounds.

Assanis did not mention the projected total enrollment for 2023-2024, although this year UD has said it has a total enrollment of 23,257.

To watch the full meeting, click here.