Tuition to increase 5 percent next academic year
By: Allison Marino
Issue date: 2/5/10 Section: News
Tuesday brought about some bad news for cash-strapped DePauw students when it was announced that the tuition would be increased by five percent.
Tuition for attending DePauw University, was raised from $32,800 to $34,400 after much deliberation by the campus administration and the Board of Trustees. Other fees, such as room and board, were also increased.
According to Brad Kelsheimer, Vice President for Finance and Administration, the tuition increased because DePauw was behind other peer institutions in net revenue based on Moody's, a ratings database for the financial sector.
"We looked at our Moody's rating, and our net tuition was about 35% lower than our peer institutions like Grinnell and Denison," Kelsheimer said. "We all have sacrificed some for the tuition to stay low."
President Brian Casey echoed the sentiments expressed by Kelsheimer. Casey said that maintaining a vibrant DePauw experience was the most important factor in raising the tuition.
"I want the institution to begin a profound period of investing in the totality of the student experience," Casey said. "One way is we have to push the cost out to families. I hope they recognize, and I know its very difficult, but the totality of the DePauw experience is so much deeper and so much richer than an IU or even a Butler, who's tuition is below ours, so you know it's a very tough thing to manage."
Need-based financial aid will be increased to meet the needs of some students. However, merit-based scholarships will not be adjusted. Students are hopeful that the tuition increase would create a better DePauw environment.
"I hope we get better facilities," Morgan Johns, a freshman, said.
But for students concerned about the tuition hike, Kelsheimer has his own words of wisdom.
"It's understandable, I have five kids to put through school so I can empathize," Kelsheimer said. "We think it's a valuable education and it's what comes with the great educational experience you get at DePauw."
Tuition for attending DePauw University, was raised from $32,800 to $34,400 after much deliberation by the campus administration and the Board of Trustees. Other fees, such as room and board, were also increased.
According to Brad Kelsheimer, Vice President for Finance and Administration, the tuition increased because DePauw was behind other peer institutions in net revenue based on Moody's, a ratings database for the financial sector.
"We looked at our Moody's rating, and our net tuition was about 35% lower than our peer institutions like Grinnell and Denison," Kelsheimer said. "We all have sacrificed some for the tuition to stay low."
President Brian Casey echoed the sentiments expressed by Kelsheimer. Casey said that maintaining a vibrant DePauw experience was the most important factor in raising the tuition.
"I want the institution to begin a profound period of investing in the totality of the student experience," Casey said. "One way is we have to push the cost out to families. I hope they recognize, and I know its very difficult, but the totality of the DePauw experience is so much deeper and so much richer than an IU or even a Butler, who's tuition is below ours, so you know it's a very tough thing to manage."
Need-based financial aid will be increased to meet the needs of some students. However, merit-based scholarships will not be adjusted. Students are hopeful that the tuition increase would create a better DePauw environment.
"I hope we get better facilities," Morgan Johns, a freshman, said.
But for students concerned about the tuition hike, Kelsheimer has his own words of wisdom.
"It's understandable, I have five kids to put through school so I can empathize," Kelsheimer said. "We think it's a valuable education and it's what comes with the great educational experience you get at DePauw."
Be the first to comment on this story