Undergraduates at Texas Christian University (TCU) will have to fork over more money to attend the private college than their peers at Havard University, following recent news of a tuition hike at the Fort Worth institution.
TCU announced a 7.9% increase in undergraduate tuition beginning in the 2024-25 school year. The hike is the largest for the university in more than a decade.
Annual tuition at TCU will now cost more than $61,000, an increase of about $4,520 annually for full-time undergraduates, and doesn’t include costs for fees, books and student housing.
In comparison, it currently costs $54,269 to attend Harvard University, an Ivy League school, not counting student housing and other various services and fees.
“This decision comes after careful consideration of economic factors and it is necessary to maintain and advance TCU’s standard of excellence in academics, student experience and services,” TCU said on its website.
News of the hike came after TCU celebrated a $1 billion fundraising campaign in October, the Fort Worth Star-Telegram reported. The school has also spent $200 million on the construction of more than 20 new buildings since 2012. It’s not clear if the funds from the $1 billion raised will be used to offset the new student increases.
The hike only applies to tuition. Food and housing rates will be addressed at a later date, the school said.
The university will increase need-based financial aid to account for the increase, but students on fixed scholarships will have to find other ways to pay for the $4,500 in extra tuition.
Tuition and endowment funds go to support a “personalized academic experience, as well as the people and programs that distinguish TCU as a leading university,” TCU spokesperson Holly Ellman wrote in an email to the newspaper.
The university will increase need-based financial aid to account for the increase, but students on fixed scholarships will have to find another way to come up with the roughly $4,500 in extra tuition.
Fox News Digital reached out to TCU for comment.