Move recognizes families’ economic challenges
In a move to address the spiraling costs of higher education, the university’s Board of Regents has approved a 10 percent reduction in tuition and fees at the College for the coming academic year. The University of the South is taking this action now to make a college education more affordable and accessible.
The 10 percent price reduction applies to tuition, fees, room, and board for the 2011-12 academic year; it represents a $4,600 reduction from the current year’s total.
Why would Sewanee cut its price?
A survey released this month reported that of Americans who are struggling in the current economy, more than twice as many (77%) are worried about paying for their children’s education as are worried about losing their jobs (32%).
“Higher education is on the verge of pricing itself beyond the reach of more and more families,” said Vice-Chancellor John McCardell. “The reduction in tuition at Sewanee recognizes today’s new economic realities and the pressures that families face. Our goal is to make an outstanding liberal arts education more accessible to qualified students.”
The change will allow the university to focus its financial aid where it is needed most, continuing Sewanee’s tradition of making a high-quality education possible for deserving students without regard to financial need. The national trend in higher education has been for both college fees and discounts offered to increase every year. (A college's tuition-discount rate is the difference between what students actually pay to attend and the institution's sticker price.)
Although there may be some changes in how financial aid is administered, no returning Sewanee student will pay more next year than they are paying now (assuming that student's financial circumstances and need have not changed), and most will pay less.
“The regents concurred that this is the right time to reverse the trend. It’s the right decision for Sewanee, for our students, and for families across the country,” said Martha Boal Willis, chair of the university’s Board of Regents. “The university’s governing board expected bold leadership from John McCardell when it elected him.”
This year, the University of the South received more than 3,000 applications, and expects to enroll approximately 425 freshmen in the fall.
What others are saying, links to some of the stories that have appeared since the announcement.