According to statistics dating back to the 1965-1966 academic year, the College has increased the comprehensive fee, which includes tuition, room and board, each of the last 26 years.
In a letter written to students and their families, Gerety wrote that the Board of Trustees decided on setting the comprehensive fee for next year at $33,860.
"We work hard to balance fiscal discipline and intellectual ambition," wrote Gerety.
Tuition will increase by $1,160 to $26,760, while room will increase to $3,800 and board will increase to $3,300.
"Inflation is at 3.7 percent already," said Assistant Treasurer Peter Shea. "This is more of a keeping up [with inflation]."
Treasurer Sharon Siegel added that affordability was a concern in deciding whether to increase the fee.
"What we try to do is moderate the cost increase," said Siegel. "It's always a delicate balance between affordability and maintaining the quality of the resources."
Over the past few years, the College has continually increased its cost, which could cause financial strain for those students who find themselves just above the financial aid cutoff. "Need is evaluated year to year," said Director of Financial Aid Joe Paul Case. "It's not unusual for a student to move into aid."
According to Siegel, 60 percent of the school's revenue comes from the comprehensive fee. The other $21,340 per student comes from the endowment and annual giving.
"There is a relationship between the comprehensive fee and the cost of [running the College]," Siegel said. "The comprehensive fee still just represents 60 percent of the cost of Amherst."
Last year, the College increased the comprehensive fee by 3.3 percent while Williams College froze their fee, citing a successful capital campaign as the reason for their decision. Williams has yet to announce whether they will increase their fee for the coming academic year.
The 4.5 percent increase comes after the College posted a record gains in its endowment last year, increasing from $278 million to $912 million.
"This year's endowment returns are not going to be what they were last year ... not what they were in the last three years," said Shea.
Harvard University announced that they will be increasing their fee 3.5 percent to $34,269, and Yale University also announced a 3.5 percent increase, bringing their comprehensive fee to $34,030.
In addition to the comprehensive fee, students are charged a student activities fee, residential life fee, campus center program fee and fee for health insurance. During the 2000-2001 academic year, these additional expenses totaled $855.