Texas Christian University is increasing its tuition, now making the university more expensive than Harvard.
The university said it is continuing to invest in the value of the education it provides, but some parents are not pleased with the school raising costs.
TCU recently announced plans to raise its tuition for the 2024-25 academic year to $61,000, as reported by FOX 4 KDFW. This increase will make annual tuition at TCU more expensive than Harvard University, which charges $55,587.
The Fort Worth-based university is raising its tuition by 7.9%, or $4,520. This marks the largest price hike the university has seen in more than a decade.
“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,” the university said on its website.
The school said the tuition rate increase will apply across all classes to existing and incoming students. TCU also noted that this increase only applies to tuition and “food and housing rates will be addressed at a later date.”
TCU spokesperson Holly Ellman told the Fort Worth Star-Telegram, “We continue to invest in the value of a TCU education and have bold plans that support student success and impactful work on campus and as leaders in society.”
“The university is committed to making a TCU education more accessible by continuing to increase financial aid for qualifying students as well as merit awards for academic performance,” she added.
However, some parents are not pleased with the increased costs.
Tong Williamson, parent of a TCU sophomore, told the Star-Telegram that the price hike feels like a bait-and-switch. She said that while inflation contributes to increased costs, the university should do more to absorb those increased expenses.
She said that parents are not getting pay raises to keep up with the cost of tuition, which has more than doubled over the last 12 years.
In 2011, tuition cost $30,000 a year. About one-third of TCU students receive financial aid, but students graduate with an average loan debt of $44,580, according to the Star-Telegram.