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Annual pricetag at University of Pennsylvania to top $70,000 next year

The cost of attending the University of Pennsylvania next year will rise to $71,200 under a plan endorsed by a committee of the board. The full board will vote Friday.

Cohen Hall at the University of Pennsylvania, left,, where tuition will top $70,000 next year.
Cohen Hall at the University of Pennsylvania, left,, where tuition will top $70,000 next year.Read moreJESSICA GRIFFIN / File Photo

Tuition, fees, and room and board costs at the University of Pennsylvania would top $70,000 next year under a proposal endorsed by a committee of the board of trustees Thursday.

The full board will vote on the proposal Friday.

Under the plan, total cost of attendance at the Ivy League university will be $71,200 for 2018-19, up 3.8 percent, or $2,600, over last year's $68,600 total. The charges include $49,220 for tuition, $3,364 for fees, $10,200 for housing, and $5,416 for dining.

University officials noted that the university is increasing its financial aid budget by an even greater amount, 5.25 percent. The financial aid budget will total $237 million.