2008 Woodie Awards
Administration Announces Tuition and Fee Increase
Sarah Haller
Issue date: 3/9/05 Section: News
At the Student Government Association meeting on Feb. 23, Goucher President Sanford J. Ungar announced the proposed budget for the 2005-2006 school year along with an increase in student tuition and fees.
With an increase of $3.73 million from the current budget, next year's budget totals $47.7 million. Increases include $1,350 for tuition, $150 for room and board, and $25 for the student activities fee for a total increase of $1,525. This brings the yearly payment to $36,100 for resident students. Last year, tuition and fees increased by $1,925.
Vice President of Finance Tom Phizacklea and President Ungar began planning the budget in November 2004 after receiving input from senior staff members. During the process, they calculated all the funds necessary to operate the college and compared it to their current revenue sources: Goucher's endowment fund, state government aid, and the current tuition and fee charges.
According to Phizacklea, Goucher's money from the state and endowment has gone down significantly in the past few years. Last year, the state offered Goucher $2 million in aid, but now can only offer $1.5 million. In 2002, $9 million was available from the endowment and now it is down to $7 million.
After making up the difference through tuition and fee increases, Phizacklea and Ungar presented the budget to the Budget Committee of the Board of Trustees, which includes several board members and two faculty representatives. After several rounds of discussion, the committee approved the budget and sent it to the Executive Committee and then to the entire Board of Trustees for approval.
Phizacklea explained that though the process is long, it works.
"Me and Sandy don't sit in a room and say, 'Hey, let's raise the tuition by ten percent and see what happens.' There's a lot of thought involved in the process," Phizacklea said. "Anyone that has any questions, I'm happy to sit down with them and discuss the process."
With an increase of $3.73 million from the current budget, next year's budget totals $47.7 million. Increases include $1,350 for tuition, $150 for room and board, and $25 for the student activities fee for a total increase of $1,525. This brings the yearly payment to $36,100 for resident students. Last year, tuition and fees increased by $1,925.
Vice President of Finance Tom Phizacklea and President Ungar began planning the budget in November 2004 after receiving input from senior staff members. During the process, they calculated all the funds necessary to operate the college and compared it to their current revenue sources: Goucher's endowment fund, state government aid, and the current tuition and fee charges.
According to Phizacklea, Goucher's money from the state and endowment has gone down significantly in the past few years. Last year, the state offered Goucher $2 million in aid, but now can only offer $1.5 million. In 2002, $9 million was available from the endowment and now it is down to $7 million.
After making up the difference through tuition and fee increases, Phizacklea and Ungar presented the budget to the Budget Committee of the Board of Trustees, which includes several board members and two faculty representatives. After several rounds of discussion, the committee approved the budget and sent it to the Executive Committee and then to the entire Board of Trustees for approval.
Phizacklea explained that though the process is long, it works.
"Me and Sandy don't sit in a room and say, 'Hey, let's raise the tuition by ten percent and see what happens.' There's a lot of thought involved in the process," Phizacklea said. "Anyone that has any questions, I'm happy to sit down with them and discuss the process."
Be the first to comment on this story