The Indiana University Board of Trustees approved on-campus residence fees for the next academic year at the Feb. 8 meeting, with increases close to or less than 1%.
The most common room and board rate for IU Bloomington in 2022-23 will increase by 0.98%, or $114 per year. At IUPUI, the rate increase is 0.35%, or $44 more for the most common room and board rate. IU Southeast housing is up 1.03%, or $80 for one year at the most common room and board rate. The IU South Bend housing rate will not change.
Despite pandemic pressures that included additional costs for IU’s residential housing operations, this is the lowest room and board rate increase in Bloomington in more than a decade. The small increase comes even as apartment rental prices rose nearly 17% nationally and 6% in Indiana, according to ApartmentGuide.com.
The modest increase also continues a trend for IUPUI, IU South Bend and IU Southeast of keeping rate increases near or below the Consumer Price Index since 2017. The index, compiled by the U.S. Department of Statistics is a measure of the average change over time in the prices paid by consumers for consumer goods and services.
“Each campus has taken steps to avoid passing on pandemic-related costs to students in room and board rates for 2022-23,” said IU Treasurer Don Lukes. “The lower rate increases for next year reflect each campus’ priority of balancing the rates paid by students, with the goal of maintaining the long-term financial stability of the housing and dining system.”