Undergraduate students at Rice University will be asked to pay 4.5 percent more in tuition for 2013-14 academic year.
The tuition is estimated to cost around $38,260, from $36,610 last year, while mandatory fees will be priced at $690 and the room and board will be charged about $13,000.
The total cost is projected to be at $51,950, which is a 4.1 percent increase, when compared to the previous year.
"We know paying for college is a challenge for many families, and we are committed to keeping a Rice education affordable and accessible to people from all backgrounds," said Rice president David Leebron. "At the same time, a relatively modest rise in tuition along with contributions from our endowment and donors allow us to maintain the high quality of research, teaching and services that give our students one of the best educations anywhere."
The tuition hikes will applicable on students across the university, except for graduate music and architecture students, who will be paying only $26,160 and $28,442 respectively.
Students enrolling at professional masters programs such as natural sciences will shell out $28,000 and $31,000 for engineering programs. On the other hand, MBA students at the Jones Graduate School of Business will be asked to pay $48,500 in tuition.
Vice President for Finance Kathy Collins said that, in comparison to the previous tuition raises, this one is a modest hike. Last year it was at 4.9 percent and prior to that, it was 5.3 percent.
Collins said that the university increases the tuition to pay faculty and staff salaries and facility maintenance costs.