Smith tuition rises above $50,000 mark
Gina Charusombat
Issue date: 11/19/09 Section: News
Belanger also mentioned the challenge of keeping the discount rate - the rate at which aid fees grow - constant.
"The downturn in the economy has forced us to be above our projection amount," he said.
Smith commits to meeting students' full demonstrated financial need, a policy President Carol Christ has vowed to maintain. This requires Financial Services to keep pace with the economy as student loan amounts increase to meet the federally determined level of need.
Mahoney emphasized that planning committees are focusing on fundraising efforts for financial aid.
"We need to keep our commitment to access," she said. "It will be a major component of a new campaign."
Administrators are also aware that budget adjustments give many families shouldering the full cost of Smith tuition cause for concern.
"The president is concerned about families not on aid as well," Belanger said. The budget office is in the process of making tuition recommendations to the Board of Trustees, but no final decisions are made until January. Amid the adjustments, Mahoney credits endowments' contribution to balancing the budget.
"The cost of a Smith education far exceeds the price," Mahoney said, which she estimated at $65,000. "In some sense, everyone gets a subsidy through endowment support."
Many students understand the necessity for an increase in comprehensive fees. "It's going to happen. It's inflation," Robyn Cyr '12 said.
However, Cyr was critical of the consequences of the budgetary decisions. "We shouldn't be cutting people if we're raising tuition," she said.
While the college navigates difficult financial decisions, the administration continues to pledge its commitment to Smith students.
"President Christ is very concerned, as am I," Mahoney said.
"The downturn in the economy has forced us to be above our projection amount," he said.
Smith commits to meeting students' full demonstrated financial need, a policy President Carol Christ has vowed to maintain. This requires Financial Services to keep pace with the economy as student loan amounts increase to meet the federally determined level of need.
Mahoney emphasized that planning committees are focusing on fundraising efforts for financial aid.
"We need to keep our commitment to access," she said. "It will be a major component of a new campaign."
Administrators are also aware that budget adjustments give many families shouldering the full cost of Smith tuition cause for concern.
"The president is concerned about families not on aid as well," Belanger said. The budget office is in the process of making tuition recommendations to the Board of Trustees, but no final decisions are made until January. Amid the adjustments, Mahoney credits endowments' contribution to balancing the budget.
"The cost of a Smith education far exceeds the price," Mahoney said, which she estimated at $65,000. "In some sense, everyone gets a subsidy through endowment support."
Many students understand the necessity for an increase in comprehensive fees. "It's going to happen. It's inflation," Robyn Cyr '12 said.
However, Cyr was critical of the consequences of the budgetary decisions. "We shouldn't be cutting people if we're raising tuition," she said.
While the college navigates difficult financial decisions, the administration continues to pledge its commitment to Smith students.
"President Christ is very concerned, as am I," Mahoney said.
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samueljaxon
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posted 2/04/10 @ 4:52 AM EST
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