Paying $58,440 in tuition for Syracuse University seems like quite a lot of money, but the cost of attendance is ultimately worth the University’s amenities and priorities.

The total billable cost of attendance to Syracuse University being $77,305 and tuition being $58,440 per year can really make us SU students wonder what we are paying for. The average tuition of private colleges in the United States is $39,723, nearly $20,000 less than at SU. I set out to find out exactly what we are paying for and now believe that what we are paying is worth it.

Over the years, SU’s tuition has steadily increased. Tuition for full-time undergraduate students increased 4.5% for the 2022-2023 school year. The tuition of SU today compared to the tuition in 2012, however, is even more surprising.

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Tuition in 2012 was $37,610 for undergraduates, about a 55% increase to today’s tuition. Some may say that tuition must be adjusted for inflation, as the price of everything else increases. But the increase of inflation from 2012 to 2022 was only 22%.

There are valid reasons behind the steep increase in costs. The price of attendance has continued to rise because the University’s priorities are now more geared toward helping students with financial aid and increasing the amount of amenities we have here at SU.

In total, SU’s budget is about $1.6 billion. Undergraduate and graduate students’ tuition makes up over a billion dollars, or about 67% of SU’s total revenue. The SU Fiscal 2023 Budget reveals that the University’s highest expense is undergraduate financial aid. SU spent about $324 million on undergraduate financial aid and about $90.5 million on graduate and law financial aid, about a quarter of SU’s total expenses.

SU has been doing exceptionally well with financial aid coverage, as the university met 95% of students’ financial aid needs in 2021. Additionally, the average merit-based scholarship or grant given to first-year students is $14,593. It is commendable that 43% of first-year students received need-based financial aid in fall 2020.

Syracuse’s main expenses go toward staff salaries, undergraduate financial aid, administration costs, participation fees, and operating and other expenses. The operating expenses include research, academic support, student services, institutional support and auxiliaries.

Capital projects cost the school almost $30 million in 2021. The main two projects that went underway with that money was transforming Schine student center and upgrading the JMA Wireless Stadium.

The Schine Student Center updates made the area have more natural light, a better dining area — including the addition of Core Life, Panda Express and Halal Shack — and campus store and cultural centers.

The renovations to the University’s stadium included a new fixed roof, better lighting and sound systems, improved accessibility, new concessions operations, and — probably the best new feature — air conditioning throughout the building.

While the amount of money we are paying can seem quite ridiculous at times, SU students are getting what they are paying for.

Our tuition is going towards new improvements and amenities throughout campus, research projects and most importantly, it’s helping provide financial aid so a more diverse student body can attend SU. Knowing the breakdown of the cost of attendance is important because students are able to see where their money is going. Ultimately, SU’s tuition goes towards what makes our student experience so special.

Melanie Wilder is a junior policy studies and information management double major. Her column appears biweekly. She can be reached at mewilder@syr.edu.

Published on September 20, 2022 at 10:32 pm