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Harvard announced today that undergraduate tuition and fees for the 2010-2011 academic year will total $50,724, an increase of 3.8 percent from last year’s $48,868. At the same time, financial aid for undergraduates will increase by 9 percent to a record $158 million.

According to the University press release, the $13-million increase “will ensure no change in the financial burden for the more than 60 percent of students who receive aid. The estimated average need-based grant award is approximately $40,000.” Dean of the Faculty of Arts and Sciences Michael D. Smith stated, “Harvard remains committed to a fully need-blind admissions policy that will enable us to continue attracting the most talented students, regardless of their economic circumstances.”

Despite crossing the $50,000 mark, Harvard’s numbers remain roughly in line with those of such peer institutions as Yale, which previously announced tuition and fees totaling $49,800 for the coming academic year, an increase of 4.8 percent; Princeton, which raised its charges to $48,580 for 2010-2011, an increase of 3.3 percent; and Stanford, where charges will total $50,576, an increase of 3.5 percent.