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The University News

The Student News Site of Saint Louis University

The University News

The Student News Site of Saint Louis University

The University News

College Board Reports On Cost Of College Education, SLU Ranks Above National Average Percent Increase

Experts from the College Board, an organization of educational institutions that aims to increase student’s access to higher education, report that the rate of growth in the cost of college education is slowing nationally. Saint Louis University’s tuition rate, however, remains well above the national average.

National College Board officials said that the average tuition at a four-year college rose 4.7 percent this past academic year. In the St. Louis area, SLU and Washington University continue to charge the highest rates, and both increased at higher than average rates for the 1999-2000 academic year. Tuition at SLU increased by 7 percent last year, while that of Washington University increased by 5.4 percent.

Such extreme tuition inflation, however, is not common to all universities. The University of Missouri and the Southern Illinois University systems have honored their previous pledges to hold tuition increases to approximately 3 percent.

So why the drastic increase in tuition at SLU? Last year, University president Lawrence Biondi, S.J. reported that for the 1998-99 academic school year, tuition dollars only paid for two-thirds of educational costs with the difference being covered by SLU’s endowment and benefactors.

In addition, extensive campus improvements, construction projects and the expansion of academic departments have also contributed to the increase. Furthermore, as tuition costs have increased, so have scholarship and financial aid funds. Scholarship funds have risen from a mere $5 million at the beginning of Biondi’s presidency to $53 million this year. Reports from the Office of Financial Aid indicate that students can expect another increase in scholarship funding for the 2000-2001 academic year.

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Senior Lauren Flynn said that she understands the reasons behind tuition increases. “Although tuition seems exorbitant, I think it is justified if you consider the extensive campus beautification, the new apartments, etc. I do think that campus appearance is important. If the campus is aesthetically pleasing, more freshmen will want to come.”

Experts say that they doubt college costs will ever stop growing more rapidly than the rate of inflation. Thus, paying for higher education is likely to present an ever more daunting burden.

The College Board reports that the rising indebtedness is deterring many students from lower income backgrounds. For this reason, SLU is instituting merit-based retention scholarships for those students who were unable to earn financial aid as an incoming freshman, or as a transfer student.

So, is college worth the massive economic investment? Government statistics say yes. According to the Bureau of Labor Statistics, the average college graduate made $14,000 more per year than a high school educated employee in 1998. Furthermore, this gap widens with each additional year of education.

A decision regarding SLU’s tuition increase for the 2000-2001 academic year is still pending, but Hal Deuser, director of the Office of Financial Aid, expects that the decision will be rendered sometime during the spring semester.

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