Updated as of Feb. 10, 2023 at 3:38 p.m.

Elon University will increase tuition, lodging and meals by 5.14% for the 2023-24 academic year, according to an email from Elon University President Connie Book to parents.

“Elon is highly reliant on student charges, 92% of our revenue comes from students' revenue, tuition, room and board,'' Vice President for Finance and Administration Janet Williams told Elon News Network in an interview. “Elon creates a very, very responsive curriculum and programming around students' success.” 

For 2022, which was the last full fiscal year, 74% of Elon University’s operating revenues was derived from tuition and another 18% was from auxiliary services, which includes room, board and athletics, according to university spokesperson Owen Covington. Remaining revenue came in from grants, returns on investments and other sources. 

Including tuition, fees, food and housing the total cost for the 2023-24 academic year will be $59,014. Broken down separately, this is a 5.43% tuition increase and a 4.26% food and housing increase between the 2022-23 and 2023-24 school year. 

Indirect costs including books, transportation and miscellaneous expenses total to $3,500, added to tuition, fees, food and housing totaling to $62,514 for total cost of attendance. 

Williams said the reasoning behind the university’s budgeting process is to align with the Boldly Elon strategic plan. The tuition increase allows for the university to make a “market comp adjustment” for all positions, adding new positions across the university in areas such as STEM and health sciences and adds financial aid dollars. The budgeting process also accounts for contingency, or unexpected expenditures. 

“This supports the admissions process and helps us to make sure that our wonderful education here is accessible to students,” Williams said. “This is primarily scholarships for students like the Fellows scholarships, merit and need based scholarships.” 

Students can see the impact of their tuition dollars in places like Elon University’s health and wellness initiatives, such as Health EU and Timely Care, and the new Innovation Quads opened in the fall of last year. 

“Aligning our goals and our budget with our Boldly Elon Strategic Plan will allow students to very visibly see where their tuition dollars are going,” Williams said. 

Vice President for Strategic Initiatives Jeff Stein declined to comment to Elon News Network.  

Program Assistant in the Provost’s Office Renee Makin said Provost Rebecca Kohn is unable to comment at this time.

To see Elon News Network's exclusive interview with Provost Rebecca Kohn, click below:

Elon News Network contacted the President's Office and were told that Book is out of office and unavailable to comment at this time.

Vice President for Strategic Initiatives Jeff Stein declined to comment to Elon News Network.