Indiana University trustees have approved on-campus room and board rates for the 2014-15 academic year.
Rate increases for the most commonly requested room and board package at IU campuses are as follows:
- IUPUI: 4.6 percent
- IU South Bend: 2 percent
- IU Southeast: 1.5 percent
- IU Bloomington 3.76 percent
The new rates will vary depending on which facility and meal plan is chosen.
The standard meal plan for 2014-15 will also increase by 1.6 percent.
IU Vice President and Chief Financial Officer MaryFrances McCourt says the increases in Bloomington are necessary to cover depreciation, maintenance and utility costs. They reflect the need for ongoing improvements to older residence halls, as well as future updates.
“My role there is to make sure that the rates we put in place ensure a viable operation, that we’re funding reserves for improvements for the housing and we can deliver the programming that students want,” McCourt says.
McCourt noted despite the rate increases, IU Bloomington’s student housing costs are expected to remain relatively low when compared to other Big Ten schools. IU Bloomington’s most prevalent room and board rate is currently the eighth-highest among all Big Ten universities.