According to a March 11 press release, Andover has set the tuition for the 2014-2015 academic year. Determined during the Board of Trustees’ winter meeting, tuition for boarding students will be $48,850, and tuition for day students will be $38,000. Tuition for both boarding and day students increased 3.5 percent from the 2013-2014 academic year tuition, according to Stephen Carter, Chief Operating and Financial Officer. For the 2013-2014 academic year, tuition for boarding students was $47,200, and tuition for day students was $36,700. According to Carter, Andover’s tuition costs remains low in comparison to peer schools. “We are at the second lowest in our peer group. Exeter is the lowest,” said Carter. The costs of tuition at St. Paul’s School, Choate-Rosemary Hall, Hotchkiss School, Deerfield Academy and Northfield Mount Hermon School are all greater than that at Andover. Carter said that the increase in tuition was prompted by several factors. “You have to fund the financial aid budget, you have to fund salaries, you have to fund increases in the cost of services, like energy and things like that. [The tuition] is really balancing the budgetary priorities and other sources of income, and try to keep the increase [in tuition] as low as possible.” Ultimately, the tuition is determined by “how much costs are going up,” said Carter. The Senior Administrative Council made a recommendation for the new tuition to the Board of Trustees, who approve and set the tuition, said Carter.
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