Stanford OKs Hikes in Tuition, Room, Board

Tuition for undergraduates at Stanford University will rise by 4.5%, to $29,847, next year as a result of a decision by the school’s board of trustees.

The trustees also approved a 6.1% increase in room rates and a 3.2% hike for board. Overall, the cost of attending the university -- including an estimated $2,955 for books, supplies and personal expenses for both this year and next -- will rise to $42,302, up from the current $40,592.

University officials said the increases stemmed from rising expenses in higher education, but added that financial aid would continue to be increased to protect financially needy students.