Issue date: 3/5/09 Section: News

Wittenberg's price tag will get bigger next year, as the Board of Directors recently approved a 2.9 percent tuition increase. Coupled with a bump in housing fees, the overall cost of attending Witt will rise 3.4 percent.

The tuition hike will cost returning students an additional $1,400 apiece, and will bring in about $2.75 million to the university, assuming enrollment stays the same.

According to the Office of University Communications, 2.9 percent is the lowest increase since 1965. Previous tuition hikes this decade have averaged closer to five percent.

"Our goal was to keep the
tuition increase as low as it can
be without negatively affecting
students' experiences," said
President Mark Erickson.

He credited the fiscal conservancy of the past several years with preparing the university to deal with tight financial circumstances. In order to help minimize
this year's tuition hike, he said salary increases for faculty and staff will be lower than in years past. A contingency budget has also been drafted, which includes significant spending cuts in anticipation of potential revenue shortfalls.

The extra revenue from the tuition hike will be used to keep up with rising expenses and maintain funding for critical
programs, Erickson said.

To help offset the additional burden on students, the university has allocated an all-time high in excess of $30 million
for financial assistance.

"It speaks to our commitment to ensure the reason a student comes here is not price," Erickson said. He stressed the high investment value of a Wittenberg education, and talked about the challenges of maintaining that value while adapting
to a slow economy.

The falling stock market reduced the value of Wittenberg's endowment, and the number of major donations from alumni has also decreased. However, Erickson cautioned against knee-jerk spending cuts.

"The worst thing to do in a tough economy is to hunker down," he said. "The best thing is to be smart, agile, and careful, but continue to invest in key initiatives." While he admitted being concerned about how long the current economic slump will last, Erickson said he remains hopeful that Wittenberg can weather the storm.

Page 1 of 1

Article Tools