Northeastern will provide a record $263.6 million in financial aid—not loans—for undergraduate students in 2017-18, as part of the university’s ongoing commitment to making significant investments in financial assistance for its students.

Over the past 10 years, Northeastern has increased its investment in financial aid by 108 percent. During the past five years, through its increased investment in aid, the university has reduced the average debt among all students graduating by 40 percent.

Undergraduate tuition for the 2017-18 academic year will be $48,560, an increase of 3.9 percent. The new tuition figure remains competitive with many of Northeastern’s peer institutions. Overall, tuition, fees, room, and board will increase 3.9 percent.

“Northeastern provides a world-class education that empowers our students to personalize their intellectual journey through real world experiences, use-inspired research, and global networks,” said Sundar Kumarasamy, vice president for enrollment management. “We are committed to making the Northeastern experience affordable for those students with the talent and the drive to earn admission to the university and pursue their goals.”

Northeastern will continue to meet the full demonstrated need of all freshmen and transfer students, as determined using the financial data families provide to the College Board and on the Free Application for Federal Student Aid. More than 70 percent of first-year students at the university receive some form of grant aid from the university.

Undergraduate students will also continue to benefit from the Northeastern Promise, a compact that guarantees eight semesters of funding to students who receive need-based Northeastern grant assistance. Under the promise, need-based grant funds will automatically increase at the same rate as tuition and are guaranteed not to decrease, regardless of any change in a family’s economic circumstances.

The university also provides 150 full-tuition scholarships to Boston Public Schools graduates and hosts college readiness events for BPS students and their families aimed at helping them prepare and apply for college and financial aid.

This year, Northeastern also received a record 54,200 applicants for the fall 2017 freshman class, showing a consistent rise in the quality and quantity of students and highlighting both academic achievement and geographic diversity.

Northeastern continues to experience record demand, due in part to its renowned experiential education model. Each year, more than 3,000 students work or study in one of more than 130 countries, shaping the world and being shaped by it. As a result, 92 percent of Northeastern graduates are employed full time or enrolled in graduate school within nine months of graduation, and 89 percent of employed graduates are doing work related to their majors.