The Middlebury Board of Trustees met on Jan. 27 and 28 for their winter meeting in Monterey, according to the college’s announcements. The Board reviewed the finances, academic planning and other projects for Middlebury College and the Middlebury Institute of International Studies at Monterey (MIIS).
The trustees approved a tuition increase for undergraduate students of 4.5% for the 2023–24 academic year. According to the announcement, the tuition was set at $64,800, including $18,600 towards room and board, and $480 towards the Student Government Association fee. This increase brings the comprehensive fee for attending the college next academic year to $83,000.
According to reporting by The Campus, this is in line with a trend of tuition increases from the past two years. Tuition increased by 4.5% for the 2022–23 academic year, 2.5% for 2021–22 and 3.73% for 2020–21, The Campus reported last March.
In an email to The Campus, Executive Vice President of Finance and Administration David Provost said the decision to raise tuition was directly impacted by inflation pressure on wages, goods and food services. Further, Provost said the increase is suitably in line with peer institutions.
“Although we have seen operating costs go up 7% to 10% the last eight months, we do expect to see inflation subside in the coming months so the Board was not comfortable with supporting higher increases that we have seen at other institutions,” Provost wrote.
The Board of Trustees also heard a presentation from Selldorf Architects on a potential new museum project that was recently funded by a donor. However, there was no mention of plans for the anticipated new first-year dorm that would eventually replace Battell Hall. According to Provost, the new first-year residential hall remains a high priority for the College, and its funding will be taken from debt. The museum will require 100% fundraising.
“We expect to bring it to the Board for approval in either May or October,” Provost wrote. “We are waiting for the construction industry to stabilize as well as the public debt markets.”
Additionally, MIIS will expand its online learning program for career-relevant degrees such as new microcredentials in translation, localization management and financial crimes starting later this year. The Board also awarded tenure to Julia Berazneva, a professor in the Economics Department.