Northwestern tuition to go up next year

February 25, 2009 (EVANSTON, Ill.) President Henry Bienen says the university faces significant financial challenges because of the recession.

Northwestern's endowment has dropped 25 percent to $5.6 billion.

Next year, undergraduate tuition, room and board will increase 3.6 percent to just under $49,800. According to the university that's the smallest percentage increase in more than 40 years.

All departments have been asked to cut their expenses except salaries by 3 percent next year. And several large construction projects are being put on hold.