Lenoir-Rhyne University Slashes Tuition By 30%

HICKORY, N.C. — Lenoir-Rhyne University is making tuition more affordable starting in the 2023-2024 school year.  The school announced Tuesday it will slash its tuition prices by 30%.

That means the current $43,000 annual tuition will be reduced to $30,000 annually.  School  leaders say room and board prices will remain unchanged.  The price reduction will apply to all new and returning, full-time undergraduate students beginning in fall 2023.  Each student also will pay a $450 fee per semester, which will be used to pay for enhanced student services such as faster Wi-Fi in the residence halls and expanded mental health and medical health services on all three campus locations.

“We know students and their families are concerned about rising costs of higher education and inflation,” said Dr. Fred Whitt, university president. “We think this significant reduction in our tuition will help more families understand that an LR education is affordable and offers incredible value.”

The tuition reset will bring the published tuition price closer to what students actually pay after scholarships. The net price may be lowered even further for students through federal, state and institutional financial aid. This year, 100 percent of undergraduate students will receive some level of need or merit-based aid, and the university will provide more than $38 million in scholarship and financial aid.

The LR Promise, which offers 50 percent off tuition for eligible students will remain in effect. Financial aid and scholarship packages for returning students will be adjusted so that they will pay close to the same net tuition they are paying now. Students also will save money over their time at LR as future tuition increases will be based on the reset rate.

“We know that our published tuition turns some prospective students and families away before they ever discover how affordable an LR education can be,” said Madeleine Dassow, chair of the board of trustees. “Lowering our tuition makes a strong statement that we want students from all backgrounds to consider LR.”

The board of trustees voted unanimously to approve the reset at its August meeting.

About Lenoir-Rhyne University:
Founded in 1891, Lenoir-Rhyne University is a co-educational, private liberal arts institution with 55 undergraduate degree programs and nearly 20 graduate degree programs. LR enrolls more than 2,400 undergraduate and graduate students. LR’s main campus is in Hickory, North Carolina, where both undergraduate and graduate degrees are offered. The university also offers graduate degree programs on its campuses in Asheville, North Carolina, and Columbia, South Carolina. The Lutheran Theological Southern Seminary is also in Columbia. LR is affiliated with the North Carolina Synod of the Evangelical Lutheran Church in America and welcomes students from all religious backgrounds. The website is www.lr.edu.