BLOOMINGTON–The Indiana University Board of Trustees approved an increase Friday for on-campus room and board rates for the 2013-14 academic year.
University officials said the most commonly requested room-and-board package will increase by 3.48 percent, roughly in line with inflation figures for food and housing. However, depending on the residence hall and meal plan selected, individual rate increases will vary.
The room-and-board package most commonly requested by nearly two-thirds of IU students includes an air-conditioned, double-occupancy room in a mid-amenity residence hall and standard meal plan.
Chief Financial Officer Mary Frances McCourt said the increases were prompted by the need to cover inflation, student life programming, required depreciation and maintenance coasts, as well as bond repayment for new construction.
McCourt stated university officials worked hard to keep the increase at a minimum and said the rates remain relatively low in comparison to other Big Ten schools.
Approximately 12,400 students live in residence halls and student apartments on the IU Bloomington campus.