2008 Woodie Awards
Tuition to increase for 2008-2009 academic year
By: Meghan Kazer
Issue date: 2/8/08 Section: News
DePauw tuition will increase 6.42 percent for the 2008-2009 academic year. This percentage increase includes tuition, student fees - such as health and activities - room and board.
"It's extremely rare that any institution won't have an increase," said Dick Speller, vice president for finance and administration, adding that it is the price to pay for current inflation rates. "College costs tend to increase faster than inflation," he said.
With inflation rates increasing and DePauw programs demanding greater costs, an increase was inevitable, Speller said.
"It costs more to run [a university]," he said. "Higher education inflation is usually higher."
As a result, the majority of universities nationwide are experiencing this same increase, he said.
When deciding future costs, Speller said the committee looks at three different areas: current tuition, private gifts donated to the University and endowment earnings.
"We have to balance all three," he said, adding that this can often be a difficult task, as endowment rates vary from month to month. Speller said the endowment rates dropped 14 percent just last month.
After talking with different departments, including student services and financial aid, the committee settled on the new total cost of $40,225, a $2,425 increase from this school year. The largest dollar amount increase was in tuition, which was raised $2,100.
As a result of this increase, need-based scholarships will increase accordingly, Speller said. However, merit-based will not.
The student activity fee was raised $15 from last year, up to $185. Cindy Babington, dean of students, worked with student congress to decide a necessary amount, he said. Each student will pay an additional $15 into the student activity fund.
Student Congress president John Schomburg said Student Congress passed a white paper allowing this amount. The extra money will be used to allow students to attend Ashley Square Cinema free of charge during the week and for one dollar on the weekend, a practice put into effect during Winter Term.
"We hope students will continue to use it this semester," Schomburg said,
The rest of the money will go into a fund, which will allow allocations to give out more resources to student organizations.
Speller said he does not believe DePauw will experience a decrease in tuition in the near future, as inflation rates will continue to increase.
"It's extremely rare that any institution won't have an increase," said Dick Speller, vice president for finance and administration, adding that it is the price to pay for current inflation rates. "College costs tend to increase faster than inflation," he said.
With inflation rates increasing and DePauw programs demanding greater costs, an increase was inevitable, Speller said.
"It costs more to run [a university]," he said. "Higher education inflation is usually higher."
As a result, the majority of universities nationwide are experiencing this same increase, he said.
When deciding future costs, Speller said the committee looks at three different areas: current tuition, private gifts donated to the University and endowment earnings.
"We have to balance all three," he said, adding that this can often be a difficult task, as endowment rates vary from month to month. Speller said the endowment rates dropped 14 percent just last month.
After talking with different departments, including student services and financial aid, the committee settled on the new total cost of $40,225, a $2,425 increase from this school year. The largest dollar amount increase was in tuition, which was raised $2,100.
As a result of this increase, need-based scholarships will increase accordingly, Speller said. However, merit-based will not.
The student activity fee was raised $15 from last year, up to $185. Cindy Babington, dean of students, worked with student congress to decide a necessary amount, he said. Each student will pay an additional $15 into the student activity fund.
Student Congress president John Schomburg said Student Congress passed a white paper allowing this amount. The extra money will be used to allow students to attend Ashley Square Cinema free of charge during the week and for one dollar on the weekend, a practice put into effect during Winter Term.
"We hope students will continue to use it this semester," Schomburg said,
The rest of the money will go into a fund, which will allow allocations to give out more resources to student organizations.
Speller said he does not believe DePauw will experience a decrease in tuition in the near future, as inflation rates will continue to increase.
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