SLU will increase tuition next year by 6.5 percent
By Kavita Kumar
ST. LOUIS POST-DISPATCH
01/10/2008
Tuition at St. Louis University will once again go up next year — this time by 6.5 percent, or $1,850 annually. That means annual tuition will add up to $30,330, well above the national average for four-year private universities. The increase, though, is smaller than the previous 8.5 percent jump.Housing rates will go up about 3 percent, and meal plans will bump up about 4 percent. The total bill for students, including tuition, fees, room and board will go up 5.5 percent next year.In an e-mail Wednesday to the university community, the Rev. Lawrence Biondi, SLU's president, said that with the increase, SLU will remain in the middle tier of tuition rates amongst the 28 Jesuit universities. He said that the budget for the next fiscal year includes $9 million in new spending, mostly for academic programs and resources. The school is also expecting a substantial increase in the cost to heat and cool buildings next year as well as higher health and dental insurance costs, he said.In order to retain its best faculty, SLU will give larger merit increases for faculty salaries next year than it has in previous years, Biondi said.And some of the money from the tuition increase will be funneled back into $6 million more for scholarships. That will bring the school's total institutional aid next year to $92 million.While he stressed that SLU is financially sound, Biondi pointed out that the school depends primarily on tuition to fund its budget."As an institution, we need to work much harder to change that by bringing in more research dollars, continuing to increase our fundraising efforts and growing our endowment," he wrote.He also suggested that faculty and staff help the school find new sources of money such as revenue-producing conferences and workshops, new academic initiatives, and more summer programs.SLU has a $651 million budget for the 2008-09 school year.
By Kavita Kumar
ST. LOUIS POST-DISPATCH
01/10/2008
Tuition at St. Louis University will once again go up next year — this time by 6.5 percent, or $1,850 annually. That means annual tuition will add up to $30,330, well above the national average for four-year private universities. The increase, though, is smaller than the previous 8.5 percent jump.Housing rates will go up about 3 percent, and meal plans will bump up about 4 percent. The total bill for students, including tuition, fees, room and board will go up 5.5 percent next year.In an e-mail Wednesday to the university community, the Rev. Lawrence Biondi, SLU's president, said that with the increase, SLU will remain in the middle tier of tuition rates amongst the 28 Jesuit universities. He said that the budget for the next fiscal year includes $9 million in new spending, mostly for academic programs and resources. The school is also expecting a substantial increase in the cost to heat and cool buildings next year as well as higher health and dental insurance costs, he said.In order to retain its best faculty, SLU will give larger merit increases for faculty salaries next year than it has in previous years, Biondi said.And some of the money from the tuition increase will be funneled back into $6 million more for scholarships. That will bring the school's total institutional aid next year to $92 million.While he stressed that SLU is financially sound, Biondi pointed out that the school depends primarily on tuition to fund its budget."As an institution, we need to work much harder to change that by bringing in more research dollars, continuing to increase our fundraising efforts and growing our endowment," he wrote.He also suggested that faculty and staff help the school find new sources of money such as revenue-producing conferences and workshops, new academic initiatives, and more summer programs.SLU has a $651 million budget for the 2008-09 school year.
Link to STL Today (here)
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