Chestertown, MD, March 10, 2006 — Washington College's Board of Visitors and Governors has approved a 4.74 percent increase to the College's tuition and fee schedule for the 2006-2007 academic year. Under the Board's plan, tuition for full-time students will increase by $1,410 to $29,640, while the basic charge for on-campus housing will rise by $250 to $3,250. Basic board fees will remain unchanged at $3,200, and the Student Service Fee will be held constant at $560. The total cost for tuition, room, full board, and fees for 2006-2007 will be $36,650.
"We have held back making an increase as large as last year's 7.5 percent but, like many other institutions, Washington College is feeling the impact of the rising costs for energy and utilities on our operating budget," said Baird Tipson, President of the College. "With the opening of the John Toll Science Center during the last year, we have brought more than 40,000-square-feet of new facilities online. In March our newly renovated Dunning-Decker Science Complex will open for classes and research. These state-of-the-art facilities give our students a competitive edge, but they do come with a higher operating cost."
Tipson noted that while the College continually works to offset the true cost of a college education through fundraising, grant writing, and endowment income, tuition still plays a vital role in covering the annual costs of maintaining and operating the institution, and Washington College is competitively priced.
"While we advance the College's position as one of the nation's great small liberal arts colleges, we still remain competitive in our tuition and room and board costs," Tipson added. "Even after extensive renovations and updates to our residences, our room and board costs are in the lowest 10 percent when compared with 100 like-sized institutions. Likewise, our tuition rate falls exactly in the middle when compared to this group of liberal arts colleges."
Scholarships and financial aid also offset the actual tuition cost by nearly 36 percent for a vast majority of Washington College students. According to the College's financial aid statistics for 2005-2006, 85 percent of students receive merit or need-based institutional aid, with an average award of $13,000 per student.
"Ultimately, parents and students have to weigh these factors against the successful outcomes of the intensively personal and challenging education that Washington College provides," Tipson said. "Our commitment to our students is clear, and our graduates know the benefits for years to come."