Cornell University's price tag is rising for the 2022-23 academic year, according to an announcement from the university's board of trustees reported by the Cornell Chronicle.

Undergraduate students can expect an increase between 3.6 and 3.9%, according to the approved budget parameters, which will also mean that grant-based financial aid will also get a boost. 

According to the trustees, ensuring the university remains accessible to potential and current students is still a priority. Financial aid options will receive an 8.4% raise, a record $322 million investment, according to the Cornell Chronicle's report. 

“Cornell is committed to ensuring that we remain accessible to students from all socioeconomic backgrounds,” said President Martha E. Pollack in the report. “We continue to invest in financial aid as a key part of our foundational commitment to inclusion, and as an essential component of maintaining our academic excellence.”

Undergraduate tuition for 2022-23 will now average around $62,456 with the increase.