Undergraduate tuition will cross the $30,000 mark during the 2008-2009 school year, when a six-and-a-half percent increase bumps the price tag up to $30,330. The rate increases were announced Jan. 9 in an e-mail to the University community from President Lawrence Biondi, S.J. Biondi also wrote that housing and meal plans are expected to rise on average by three and four percent, respectively. Parking fees will increase by a currently undecided amount.
The tuition percentage increase, worth $1,850, is down two percent from the 2007-2008 school year’s increase, which was eight-and-a-half percent.
“Six-and-a-half percent is generally in line with what the other Jesuit institutions have had in recent years,” said Clayton Berry, Saint Louis University spokesperson.
The rate increases are tentatively planned to fund a new undergraduate health management degree and a new doctor of nursing practice degree, 15 to 20 new faculty positions, further funding for undergraduate research and students with disabilities and additional funding for graduate students in Parks College of Engineering, Aviation and Technology and the School of Social Work. A portion of the money will also go toward purchasing more print and online library materials.
While state universities receive much of their funding from the state, private universities like SLU must collect the majority of their money through other sources.
“Like other private universities, our budget is tuition based, and SLU is looking at ways to be less dependent on tuition, including increasing research funding and growing the endowment,” Berry said.
He stressed that the University has worked to control and decrease tuition increases in a number of different ways, including using its allotted money more cost effectively and efficiently and by generating revenue for the University by hosting conferences and events.
Returning students who demonstrate financial need will be able to apply for one of the approximately 675 $1,500 Magis Awards, funded through the $1 million set aside in the budget for returning student financial aid. They can do so through the Free Application for Federal Student Aid, or FAFSA, due by March 1.
A further story about the newly announced 2008-2009 budget will be published in the Jan. 25 print and online issue of The University News.
