Temple University’s Board of Trustees approved a 3.9 percent base tuition increase for in-state and out-of-state undergraduate and graduate students, part of the university’s 2022-23 operating budget, during their meeting Tuesday afternoon. The rise in tuition marks the second consecutive year the university has hiked tuition costs after freezing tuition during the 2020-21 academic year due to the COVID-19 pandemic.
The increase aims to help offset rising costs caused by historic inflation rates in the United States, according to a university release.
Along with the tuition hike, Temple decreased its budget for the 2022-23 fiscal year by 3.6 percent — approximately $41 million — and increased its mandatory fees from $445 to $462 per term for full-time students.
Temple will also allocate more than $110 million of its budget to financial aid, an approximate $5 million increase from the university’s usual financial aid allocations.
The university estimated undergraduate enrollment to decrease by 1,500 students because of improving graduation rates and adjusted professional schools’ tuition to market conditions and peer institutions. The increased mandatory fees are aimed at financially supporting student wellness and student support activities.
Revenue from all sources for tuition and fees is expected to decrease by $11.2 million. Temple’s received $158.2 million from the Pennsylvania state government, matching last year’s appropriations.
Last year, trustees approved a 2.5 percent base tuition increase for in-state and out-of-state undergraduate and graduate students and a 3 percent budget decrease.