Board of Trustees Approves 2021-2022 Tuition
AUC’s Board of Trustees approved tuition for 2021-2022 at its meeting last month, as part of the approved budget for the next fiscal year starting on July 1. The new tuition rate represents a 3% increase in U.S. dollar terms as compared to Fall 2020. In light of the prevailing exchange rate, the increase in Egyptian pound terms also represents a 3% increase compared to Fall 2020 and a 1.8% increase compared to Fall 2018. In addition, the Board approved $31.4 million for financial assistance.
The $31.4 million in financial assistance for students is composed of $22.6 million funded by AUC and an additional $8.8 million through sponsored grants and contributions.
“Our approved budget for the year ahead is a balanced one,” said Amir Habib, chief financial officer for the University, explaining that the assumptions for the budget are based on improved fundraising target, optimizing our operating expenses, the annual draw from the endowment and other sources of income, as the impacts of the pandemic ease and AUC returns to a more normal mode of operation. “We are pleased that we were able to maintain such a modest increase in tuition as compared to the projected rate of inflation for 2022.”
In addition, the University cut application fees for prospective students by 50 percent. “The availability of scholarship funding is part of our focus on recruiting top students to AUC,” said Provost Ehab AbdelRahman. “Creating opportunities and attracting the brightest students is key to achieving academic excellence and ensuring we continue to make the dream of an AUC experience a possibility for top students from across Egypt and the region.”