Tuition at Boston University will increase 3.7 percent next year to $43,970, the college said.

The hike is slightly lower than last yearâs increase of 3.79 percent.

In a statement , BU called the new tuition rate âone of the lowest rates of increase among BUâs peer universities.â Room and board costs will rise 3.3 percent to $13,620, making the full annual cost $57,590.



BU tuition hikes have averaged 3.8 percent over the past five years, the statement said.

In a letter to students and parents on March 18, BU President Robert A. Brown wrote that âin setting a budget for the coming year, we have worked to protect and continue to improve the quality of a Boston University education and our support services, while recognizing the need to control the cost of attendance for our students and parents.â

Brown wrote that some of the universityâs recent investments include the new Center for Student Services, and the Engineering Product Innovation Center that is slated to open in January 2014.

The letter also noted that BU will give financial aid to approximately 53 percent or 8,500 of undergraduate students next year. Whereas last year, 57 percent of undergraduates were receiving financial aid from the university, according to a statement issued by BU exactly one year ago.

âOur challenge is to continue to improve quality while controlling costs,â Brown said in this yearâs letter to parents and students. âWe are mindful of the sacrifices parents and students make and especially awareâin economically uncertain timesâof the importance of providing an education and campus experience that translates into long-term success in life and work.â

Katherine Landergan can be reached at klandergan@globe.com. For campus news updates, follow her on Twitter @klandergan.

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