Four-percent tuition increase approved

By Travis Fick
News Editor

The economic uncertainty has caused the Saint Mary’s University Board of Trustees to approve a four-percent tuition increase instead of the proposed six-percent increase for the 2009-10 academic year, said Cindy Marek, SMU’s vice president for financial affairs.

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The Cardinal’s article, “Tuition to rise despite financial woes,” originally published in the Nov. 7, 2008, issue, said that a proposed six-percent tuition increase was likely to be implemented during the 2009-10 academic year. Marek said in an email interview, “The tuition increase was reduced by the board because of the concern for families with the volatility and uncertainty in the economy today.”

The expected fiscal impact of the board’s decision means students save $470 per year for tuition and fees. “The board did not want to put a heavier burden on families than they felt necessary to balance the budget,” said Marek. “We (the Saint Mary’s administration) know unemployment is increasing, and retirement funds, savings and home values have been reduced due to the recent economic impact.”

Student reaction has been mostly positive. “It is good that the board’s decision reflects the current economic status,” said Tim Jorgensen, junior. “A change from six-percent to four-percent may be enough to allow students to stay at SMU.”

The proposal that the board receives has input from many different groups on campus, said Marek. The president, cabinet and budget committee were involved in the budgeting process, as well as admission and financial aid consultant Hardwick-Day.

Marek said SMU has not received information from other schools, but the approved increase is in line with the rest of the Minnesota private colleges.