Trustees approve increased housing prices

The IU Board of Trustees approved the new on-campus room and board rates Friday for the 2014-15 academic year.

The new rates will vary depending on students’ choices of housing and meal plans. The cost of the most common room and board package will increase by 3.76 percent from this year to next. It is currently $9,149 and will become $9,493 next year, an increase of $344.

This plan includes a double-occupancy, air-conditioned room in the residence halls, as well as a standard meal plan. The meal plan will increase in price by 1.6 percent, from $3,200 to $3,250.

Demand for on-campus housing has remained strong, according to an IU press release.

There is nearly 95 percent occupancy this year with 12,240 students living in residence halls and apartment housing.

The rise in rates is necessary to cover depreciation, maintenance and utility costs, according to the release.

The funds will also go toward continuing to improve and update all residence facilities, a plan set to be complete by 2020.

Union Street Center opened in 2010 and became the first new residential living complex on campus in 40 years. Rose Residence Center opened in the fall and is now home to 440 students.

This summer, the administration plans to complete the final phases of renovation to Forest Residence Center.

Despite the increase in rates, IU room and board is expected to remain one of the least costly among Big Ten schools. The current rate is eighth highest.

Rate increases at other IU campuses across the state include IUPUI at 4.6 percent, IU South Bend at 2 percent and IU Southeast at 1.5 percent.

— Grace Palmieri