Tuesday, March 4, 2008

Board of Visitors and Governors Approves Tuition Increase for the 2008-2009 Academic Year

Chestertown, MD — Washington College's Board of Visitors and Governors has approved a 5.74 percent increase to the College's tuition and fee schedule for the 2008-2009 academic year. Under the Board's plan, tuition for full-time students will increase by $1,815 to $33,385, while the basic charge for on-campus housing will rise by $200 to $3,650. Basic board fees will increase by $190 to $3,530 and the Student Service Fee will increase by $30 to $620. The total cost for tuition, room, full board, and fees for 2008-2009 will be $41,185.

The 5.74 increase in total costs is somewhat lower than last year's increase of 6.28 percent.

"Like many other institutions, Washington College is feeling the impact of the rising costs for energy and health care on our operating budget," said Baird Tipson, President of the College.

"Even in these tight economic times, we are moving ahead with a number of important projects. Two new student residence halls are scheduled to open for use in time for the fall semester. An expanded and full renovated Gibson Performing Arts Center is expected to reopen this time next year. Finally, a dining pavilion is under construction on campus for student use in academic year 2008-2009, while Hodson Hall is offline for a thorough renovation and expansion. The new Hodson Hall will reopen in August 2009. These state-of-the-art facilities will be a tremendous boon to student life, but they do come with a higher operating cost."

Tipson noted that while the College continually works to offset the actual cost of a college education through fundraising, grant writing, and endowment income, tuition still plays the predominant 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 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 the third lowest among 79 similar institutions. Likewise, our combined tuition, room and board charges fall exactly in the middle when compared to this group of leading liberal arts colleges."

Scholarships and financial aid offset the actual tuition cost by an average of 36 percent. According to the College's financial aid statistics for 2007-2008, 82 percent of students receive merit or need-based institutional aid. When combined with federal, state and private scholarships, grants and loans, Washington College students receive an average award of $16,466 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."

March 3, 2008

No comments:

Post a Comment