Marquette University to raise undergraduate tuition by 5% next year, surpassing $50,000
Tuition at Marquette University now tops $50,000 per year.
Marquette announced the new rates for the 2024-25 school year this week. An online statement pointed to inflation, increasing energy and health care costs, and other economic pressures for the 5% increase, bringing undergraduate tuition to $50,070.
It's a $2,380 increase from the current school year.
Room and board rates are also being bumped up 5% to account for improvements to dorms and dining halls, as well as offsetting the rising costs of operations, utilities and food. Living in a double room with a meal plan will range from $15,580 to $17,100.
Dental and law students will see 2.5% tuition increases.
Tuition at the Jesuit institution on Milwaukee's Near West Side was around $30,000 in 2010. It's increased between 2% and 5% every year over the past 15 years, except for one. The school kept tuition flat in 2021-22, citing the financial uncertainty caused by the COVID-19 pandemic.
"We understand that a college education is a significant financial investment and that many families make sacrifices to send their students here," Marquette spoksperson Monica McKay said in a statement.
About 99% of undergraduates receive financial aid in the form of scholarships, grants, loans and/or student employment, she said. Marquette will provide more than $180 million in financial aid support this fiscal year.
At least three other private universities in Wisconsin − Beloit College, Ripon College and Lawrence University − already charged tuition rates exceeding $50,000 this year.
Marquette's average net price has not increased at the same rate as tuition.
Average net price deducts financial aid packages students receive — including federal, state and institutional grant and scholarship aid — from the total cost of attendance, which includes fees, books, room and board. This number provides a better picture of what it costs to attend a university, though actual costs may vary significantly depending on a family's financial circumstances.
The average net price at Marquette has grown from $29,280 in 2010 to $33,136 in 2021, according to the most recent federal education data.
At Wisconsin's public universities, tuition had been frozen for a decade and only recently lifted.
The University of Wisconsin System Board of Regents last spring voted to increase the tuition rate by an average of about 5% in this current school year. The board will vote sometime in the first half of 2024 on tuition rates for the 2024-25 school year.
Tuition at UW-Madison this year is about $9,600 for in-state students and $39,000 for out-of-state students. Business, engineering and nursing students pay additional fees.
Contact Kelly Meyerhofer at kmeyerhofer@gannett.com. Follow her on Twitter at @KellyMeyerhofer.
This article originally appeared on Milwaukee Journal Sentinel: Marquette University tuition will top $50,000 in 2024-25
