North­eastern Uni­ver­sity has announced the largest financial-​​aid invest­ment in its 115-​​year his­tory. The uni­ver­sity will pro­vide an unprece­dented $204 mil­lion in insti­tu­tional grant aid for 2013–2014, which does not include loans or gov­ern­ment funds. The 9 per­cent increase from the pre­vious aca­d­emic year demon­strates a delib­erate strategy to increase finan­cial aid at double the rate of tuition and fees, a goal it has con­sis­tently met for the past six years.

Tuition for the 2013–2014 aca­d­emic year will be $40,780, a 3.7 per­cent increase and the lowest increase in more than three decades. Fac­toring in the record level of finan­cial aid, the “net increase” in tuition will be 2.9 percent.

In recent years, North­eastern has embarked on a tuition and finan­cial strategy designed to sup­port our stu­dents in achieving their degree, bal­ance access and afford­ability, and align with our uni­ver­sity goals,” said Jane Brown, Northeastern’s vice pres­i­dent for enroll­ment man­age­ment. “This approach yields an out­standing stu­dent body from all walks of life and with diverse aca­d­emic interests.”

In addi­tion to the unprece­dented invest­ment in finan­cial aid, the uni­ver­sity also com­mits to the “North­eastern Promise,” a unique com­pact made to ensure that stu­dents and fam­i­lies are equipped to antic­i­pate the costs of a North­eastern edu­ca­tion and to pre­vent unex­pected cir­cum­stances from impacting a student’s progress toward a degree. The Promise guar­an­tees eight semes­ters of level funding to stu­dents who receive need-​​based North­eastern grant assis­tance and auto­mat­i­cally increases the aid at the same rate of any future tuition increase.

North­eastern con­tinues to attract and retain stu­dents from around the world. The university’s inte­gra­tion of rig­orous aca­d­e­mics and mean­ingful career-​​aligned experiential-​​learning oppor­tu­ni­ties offer stu­dents an out­standing return on invest­ment. It also pro­vides North­eastern grad­u­ates with dis­tinct advan­tages in the com­pet­i­tive job market and in pur­suing grad­uate education.

More than 90 per­cent of grad­u­ates from 2006 to 2011 were employed or enrolled in grad­uate school nine months after grad­u­a­tion. Eighty-​​seven per­cent of full-​​time employed grad­u­ates are doing work that is related to their major. Within that group, 50 per­cent received a job offer from a pre­vious co-​​op employer.

North­eastern received 47,322 appli­ca­tions for 2,800 seats in the fall 2013 freshman class. The appli­cant pool has exceeded all prior bench­marks in terms of quality, total appli­cants, and geo­graphic diver­sity. The average GPA in this year’s appli­cant pool increased from 3.7 last year to 3.8. Nearly 50 per­cent of 2013 appli­cants had a two-​​part SAT score above 1300, com­pared to 20 per­cent of appli­cants in 2006.