Average dorm price to increase by $500

The IU Board of Trustees approved residency hall rates for 2011-12 at all campuses with student housing at its meeting Friday.

According to a press release, at IU-Bloomington, the cost of the most frequently requested room-and-board package will increase 6.3 percent, from $7,918 to $8,419. This includes an air-conditioned, two-bed room in a mid-amenity residence hall and a Standard Meal Plan.

Residence hall housing rate increases vary from 5 to 9 percent. The amount depends on the facility and meal plan chosen.

The increases range up to $435 for a one-bedroom unit at Union Street Center.
Apartment unit rates increased by zero to 4 percent, or up to $44.

The Standard Meal Plan will see a $100 cost increase, less than 4 percent more than the current price.

The rate increases are necessary to account for required depreciation and maintenance costs in addition to bond repayment for new construction, said Neil Theobald, vice president and chief financial officer.

Regardless of these increases, IU student housing costs are still relatively low compared to other Big Ten schools, ranking seventh highest this year in student housing costs among the 11 universities.

At other IU campuses, increases range from 2.5 percent at IU-South Bend to five percent at IU-Purdue University Indianapolis.