The total cost of attending Northwestern next year will be nearly $64,000, the University announced Tuesday morning.

The 2015-2016 undergraduate tuition and room and board rates will each increase by 3.8 percent to $48,624 and $14,936, respectively. The total sticker price adds up to $63,983.

This year’s tuition was $61,640, which was also a 3.8 percent increase from last year. The annual percentage increases have dropped steadily over the past 10 years, with 3.8 percent being the lowest increase since 2009.

The increase in tuition will go toward bolstering the Office of Career Advancement, undergraduate summer internships, research, leadership and civic engagement programs, academic mentoring and advising.

NU’s financial aid will increase by 6 percent for next year, as the University will give out more than $160 million in scholarships and grants. For the 2005-2006 school year, NU gave out $79 million in financial aid.

NU will also increase the number of students who receive Pell grants and provide aid for students from middle-income families. The University provides financial aid to about half of undergraduates.

Tuition for The Graduate School also increased by 3.8 percent for next year to $48,624. The costs of attending the Feinberg School of Medicine, the Kellogg School of Management and the School of Law are still being reviewed.

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