This tuition hike will raise the cost of attending Syracuse to $50,000 per year. Is a degree from Syracuse worth that much?

Syracuse.com reports:

Syracuse University tuition will increase to more than $50,000

Syracuse University is planning a $5,060 tuition increase in the fall of 2018 as part of a plan to fund $100 million in academic initiatives.

That will likely bring tuition at the university up to more than $50,000 a year.

The university today announced the “Invest Syracuse” plan to fund its blueprint for academic goals.

The tuition increase is one of three ways the university wants to increase funding to academics:

– Students matriculating in fall 2018 will see a larger than usual tuition increase. In addition to the regular, incremental 3.9 percent increase expected for that year, tuition will go up by an additional $3,300 to fund the Invest Syracuse plan. That will put tuition at just over $50,000 a year for these students and those who enroll in the future. The university would need to enroll about 6,000 students at that cost to realize an additional $30 million in revenue.

– SU will be looking to fund-raise $40 million in scholarships and grants specifically for lower income undergraduates, which could help offset the cost of the tuition hike for qualifying students. SU wants to create a special scholarship for high school valedictorians and salutatorians as a part of this initiative.

– The university plans to reduce administrative spending by $30 million. Officials have not yet said how, specifically, they will cut costs.