COLUMBUS, Ohio. Monday, October 21, 2013 — Capital University’s Board of Trustees approved a zero percent tuition increase for traditional undergraduates in the 2014-2015 academic year, the university announced today.
Room and board fees will increase by 4 percent, bringing the cost of attendance for new and returning traditional undergraduates who live on campus to $41,150 — a difference of $450 from last year — before financial aid and scholarships are factored in. Last year, the average financial package for first-time, full-time freshmen totaled $25,447, with the exception of Plus Loans, unsubsidized loans and private alternative loans.
Capital provides scholarships and grants to 99 percent of its traditional undergraduate students based on academic achievement and need. On average, Capital invests more than $43 million annually in university-funded financial aid.
“The Capital education is in high demand. We believe in its value and we must keep it affordable and accessible, especially to those least able to pay,” President Denvy A. Bowman said. “We’re listening closely to our students and families and responding with initiatives to meet their needs, increase affordability and control costs.”
The university’s decision to hold tuition flat is the latest in a multiyear trend of keeping tuition increases below the national average. Last year’s increase averaged 2 percent, including room and board — the lowest percentage increase in more than two decades.
It also reflects Capital’s long-term commitment to affordability and the imperative to keep the Capital education accessible. In recent years, Capital launched an affordability initiative, created three new grants to help new and returning students make up for dwindling state aid, and increased investment in university-funded financial aid by 38 percent. At the same time, Capital continues to become a leaner, more efficient organization to control costs.
Tuition for adult degree completion and graduate programs, including Juris Doctor, Master of Business Administration, Master of Science in Nursing, Nursing Accelerated Program and Master of Music in Music Education, is expected to be set in February at the next full Board of Trustees meeting.
Located in the Columbus, Ohio, community of Bexley, Capital University is a private, four-year undergraduate institution and graduate school. Capital prepares students for meaningful lives and purposeful careers through a relevant liberal arts core curriculum and deep professional programs. Influenced by its Lutheran heritage, Capital places great emphasis on the free and open exchange of ideas, seeking out diverse perspectives, active participation in society, leadership and service. With a focus on rigor and experiential learning, the University capitalizes on its size, location, and heritage to develop the whole person, both inside and outside the classroom.