University Business - December 2008 - (Page 12)

BEHIND the NEws conclusion: college is expensive WHile tHe general PuBlic might think college tuition is growing by leaps and bounds, the college Board’s annual “trends in college Pricing” report (www.collegeboard.com/html/costs /pricing) puts some actual numbers on that growth. they range from one-year increases of 4.7 percent at public two-year institutions to 6.4 percent at public fouryear institutions for in-state students, while out-of-state students saw a 5.2 percent increase and those attending private four-year institutions had to adapt to a 5.9 percent increase. the percentages translate to dollar amounts between $108 and $1,389, which could be the difference between buying a textbook or bringing a new tablet Pc to campus. as higher ed leaders have pointed out, these figures are in line with years past. “the data … show that the rate of increase in college tuitions remained relatively stable for much of the last decade,” american council on education President Molly corbett Broad said in a statement. She added that the increases are in line with the consumer Price index and, in some sectors, below inflation. David Warren, president of the national association of independent colleges and universities (naicu), also pointed to the inflation-adjusted rate of 0.3 percent as a sign private institutions are holding the line. it’s true that when adjusted for inflation the numbers change radically to a 0.8 percent decrease at public-two year institutions and only a 0.7 percent increase at public four-year institutions, but numbers can be deceiving. “the reason the inflation-adjusted increase is so much lower than in past years is because inflation was so much higher U Annual trend reports put the spotlight on pricing and student aid. [last year]. the consumer Price index went up 5.6 percent,” says Sandy Baum, a senior policy analyst at the college Board. “it doesn’t make it easier to buy things because everything else is so expensive.” With lenders withdrawing from the student loan market, many institutions are attempting to maintain or increase financial aid levels to enable students to persist. Yet naicu surveyed member schools in September and found that students are taking time off or dropping to part-time status because of lack of funds. Warren noted that the survey, available at www.naicu.edu /studentloanreport, shows there wasn’t a widespread crisis in the first half of the semester. However, he adds, “the fullblown effect of the credit crunch and the nation’s economic struggles are as yet unknown.” Baum points out that colleges can’t cut tuition because they would probably also have to cut financial aid. “colleges need to do better with need-based aid. they could give less to the ones who can afford it and more to those who can’t.” Broad points to recent cuts in state appropriations as putting another strain on college finances. according to the community college league of california, recently proposed cuts in that state could result in about 250,000 students being turned away, roughly equivalent to closing the University of California. Broad predicts that, despite efforts to control spending, tuition increases are likely to happen. “i know that colleges will do their part,” she said. “But i am also a realist, and i think colleges and universities are entering into very difficult financial times—and access and quality are likely to remain at great risk.” —Ann McClure universitybusiness.com Steve Hall, Hedrich Blessing Photographers 12 | December 2008 Brad Feinknopf, Feinknopf Photography Tops in Design: FAcilities At The UniversiTy of ChiCago and the University of Cincinnati were recently honored for design excellence by the American institute of Architects’ chicago chapter in its 53rd annual competition. Fortytwo winners were selected from 379 entries representing projects in various industries. cincinnati’s George & Helen smith Athletics Museum was recognized for its “celebration Walk” design concept, expressing the “duality and tension between athletics and academics,” with the space organized into a red and black scheme throughout all five stories of an atrium. the University of chicago Graduate school of Business’s Winter Garden, a glass atrium around which the building is organized, features a vault roof with four main structural columns that flare outward as they rise, resembling tree branches that shade the space. —Melissa Ezarik Universities Win Architecture Award http://www.collegeboard.com/html/costs/pricing http://www.collegeboard.com/html/costs/pricing http://www.naicu.edu/studentloanreport http://www.naicu.edu/studentloanreport http://www.universitybusiness.com

Table of Contents for the Digital Edition of University Business - December 2008

University Business - December 2008
Contents
Editor's Note
College Index
Company Index
Advisory Board
Behind the News
Sense of Place
Viewpoint
Human Resources
2009 Annual Directory to Financial Services
Future Shock
Independent Outlook
Endowment Management
Look Before You Leap
50 Best Branding Ideas
Remedial Nation
What's New
Facilities Focus
End Note

University Business - December 2008

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