CAMPUS

BC Raises Tuition 3%

As the economy continues to spiral downwards, colleges are beginning to face the realities of the situation. Responding to a 25 percent drop in the endowment, Boston College is looking for ways to cut wasteful spending in order to keep tuition reasonable. The President’s Office announced this morning that these efforts have proven successful as students will suffer the lowest increase in tuition in 35 years, financial aid will grow at over twice the rate of tuition, and no personnel layoffs are imminent.

How is this possible? Credit definitely goes to Father Leahy for recognizing that the endowment will ebb and flow with the market and should therefore be relied upon for only a small portion of the university’s expenses (in the area of ten percent). Granted, BC’s endowment is noticeably smaller than some of its peers, such as Notre Dame and Harvard, but years of remaining committed to a diversified source of income is now paying off.

Just as important, BC has reiterated its commitment to need-blind admission, a policy that some universities are questioning as alumni donations become more scarce. Knowing that you and your peers are present at an institution through sheer hard work and effort and not because of the size of your parents’ wallets makes college a much more pleasant experience. Additionally, Father has held firm to the belief that the budget must be balanced each and every year in order to avoid excessive debt in the case of a long, non-cyclical economic downturn. Never before has the university been so grateful to have Father Leahy at the helm, leading BC through these challenging times.