Guarantee in response to the spiraling costs of higher education
The University of the South today announced that it will freeze tuition, room and board for the next four years for the class entering the university next fall. The tuition these students will pay will remain level from the Fall 2012 through Spring 2016 semesters.
“Sewanee’s tuition guarantee represents a considerable savings over what families might have expected to pay across four years, based on the national trend of ever-increasing college costs,” said Vice-Chancellor John McCardell. “Yearly tuition increases make it difficult for families to plan. By locking in the tuition cost for four years, Sewanee is offering an element of certainty to students and their families.”
The university’s Board of Regents has set annual tuition and fees for incoming students at $44,630.
Bucking the trend
According to the College Board and the National Association of Independent Colleges and Universities, published tuition and fees at private nonprofit colleges and universities this year showed increases in the mid-4-percent range for the third consecutive year. Across the country, students graduating in 2012 are paying 15-20 percent more in tuition in their final year than they paid as freshmen.
Last February, the university announced a 10 percent reduction in tuition and fees for the current academic year (2011-12). In November, Sewanee announced that next year’s tuition will remain at this year’s level for returning students. Both these decisions, as well as today’s announcement, recognize the economic realities and pressures that families face today. They come in response to the spiraling costs of higher education and represent an effort to make a college education more affordable and accessible.
The national trend in higher education has been for both college fees and discounts offered to increase every year. Sewanee’s tuition guarantee gives our families a long-term, definite approach to college costs, compared to most other schools that allow families to plan only one year at a time.
Making the commitment to a top-quality private education is not easy; higher education is on the verge of pricing itself beyond the reach of more and more families. In this environment, Sewanee wants to make tuition management as predictable as possible.
This year, the University of the South expects to receive more than 3,300 applications, and will enroll approximately 450 freshmen in the fall.