Purdue’s financial stability allows for tuition freeze and exploration of housing capacity increase

WEST LAFAYETTE, Ind. – With higher education at the highest proven value, Purdue University is well-regarded for its national leadership in student access and success.

After a detailed year-over-year financial analysis, including sound investment strategy and extremely low institutional debt that have yielded exceptional financial stability on the West Lafayette campus, President Mung Chiang presented on Feb. 3 a request to extend the tuition freeze through 2024-25 that was endorsed by the Purdue Board of Trustees.

And while maintaining the base undergraduate tuition for Purdue West Lafayette students through 2024-25 – $9,992 per year for Indiana residents and $28,794 for out-of-state students – the university’s new faculty appointments reached an all-time high in Fall 2022 and a 4% salary merit pool for West Lafayette faculty and staff for the fiscal year that began July 1, 2022, marked the largest such amount in over 20 years.

In April 2021, Purdue trustees approved an investment of $260 million over five years in Purdue’s Next Moves, five new distinct strategic initiatives designed to advance the university’s competitive advantage in its continuing quest for leadership among the world’s top research and teaching institutions. Meanwhile, over a half billion dollars in recent facility improvement projects have been approved on the West Lafayette campus.

More students than ever are seeking a Purdue degree. More than 71,000 have applied for admission for Fall 2023, representing a 119% jump in a decade. Enrollment increased by 31% in the same period.

With demand for housing in University Residences at an all-time high, administrators and the Board of Trustees are addressing that fact. In June 2022, trustees approved the purchase of Aspire, a housing property in Discovery Park District at Purdue that includes 831 beds in one-bedroom, two-bedroom and four-bedroom apartments. On Jan. 8, Chiang announced the creation of an Action Council on Student Housing and Wellbeing, led by Provost Patrick Wolfe and Chief Financial Officer Chris Ruhl. The council also includes the presidents of Purdue Student Government and Purdue Graduate Student Government, senior leaders from across key Purdue functions, and a Purdue student parent. As indicated by the Board of Trustees on Feb. 3, additional initiatives will be announced this spring so that more undergraduate and graduate students who choose to live in university housing can do so.

The total cost of attending Purdue continues to be less today than in 2012, with tuition held flat and lower room and board rates. The tuition freeze saves students over $150 million per year for a cumulative total of over a billion dollars, compared to if Purdue had instituted annual increases at the Big Ten average, and debt per undergraduate student has declined 36% since 2012. By 2024-25, 10 graduating classes will have never experienced a tuition increase during their time at Purdue.