Can any current student talk about whether Cornell increases their tuition every year?
Basically every school increases their tuition on a yearly basis. They just don't know what it is yet, so they list the same price for every year. Also COL is always going up, especially in NYC.
Edit: Here are excerpts from one of the medical student loan planning/financing websites I've been reading that takes note of that and shows how you end up in further debt.
"Of course, anyone who’s gone to med school knows that the tuition does not stay the same. The school simply doesn’t know how much they’re going to raise it by, so it lists the same number for each year."
"Since you cannot borrow for all four years at the same cost, assume that they raises tuition at 3% per year. (This is historically lower than most medical schools) Also assume that room, board, and other expenses increase at this same rate.
Pretend you borrow at 7% interest. As I write this, the Stafford loan rate is 6.6% and the Grad PLUS rate is 7.6%, so this estimate is reasonable.
Tuition inflation simply means that in your fourth year of med school, tuition will run $70,866 instead of $62,964. Hence, you would have to borrow an additional $7,903 to cover this difference that they don’t show.
Cost of living inflation means a similar thing.
Accrued interest is the cost of borrowing that accumulates while you’re in med school. While the interest does not compound, each year you’re charged the interest on the current year’s debt and the debt from the years before. That’s why you’ll have almost $30,000 of interest charges in year 4."
housing.weill.cornell.edu
