$39,450 is the magic number for the 2004-2005 acadmic year. Last week, members of the University’s Board of Directors approved a seven percent increase in tuition for full-time undergraduates, as well as a five percent inflation of the cost of room and board. The increase is the largest in four years.
The decision to increase the cost of living is mostly a result of the additional financial aid costs for the University. Georgetown is one of 28 schools nationwide that will uniformly revise the way they evaluate financial need next year. As a result, Georgetown expects to spend a total of $35.5 million on financial aid on the main campus next year.
Ever increasing operational costs and labor costs were also factors in the University’s decision to increase tuition. The University will have to spend more on heating, air conditioning and maintenance in the new facilities on campus, particularly the Davis Performing Arts Center and the newly renovated New South Dining Hall.
According to Assistant Vice President for Communications Julie Bataille, the cost of employee benefits will increase three percent this year, mostly due to the rising cost of employee health care. The University also hopes to be able to pay its faculty more competitive salaries in the future.
University Provost James O’Donnell said the increasing tuition is necessary to providing the best possible services to faculty and students.
“Although a seven percent increase is higher than it has been in recent years, the fiscal year 2005 budget allows us to continue our efforts to make faculty salaries more competitive, offer financial aid so that Georgetown is accessible for all students, and provide new and modern campus facilities,” said O’Donnell. Increases in the past three years have been around five percent per year.
However, many students remain skeptical about the University’s ability to use the revenue effectively. “The University should show that it is providing housing and services before increasing tuition,” said Brendan D’Arcy (CAS ‘06).
Eric Lashner (CAS ‘05), a member of the Main Campus Planning Committee, an organization of faculty, students and University officials that works on main campus budget issues, said that he was disappointed by the decision to raise tuition so steeply. “We fought for student interest at every point, at every meeting,” he said.
However, Lashner agreed that tuition increases are necessary for the University to reach its institutional goals. “We need to be academically healthy to reach our core mission of providing an outstanding education to students,” Lashner said.
According the Lashner, negative attitudes toward University spending spring from misconceptions about where the money for many University projects comes from.
The majority of the funds used for the most expensive recent construction projects, such as the Southwest Quadrangle and the Davis Performing Arts Center, come from alumni donations that the donors specifically allocate toward these projects.
“The University is doing a very good job of containing costs,” he said.
