Hamilton – Colgate University has announced student charges for 1999-2000, with the lowest percentage increase in fees in the past 26 years. With a 3.2 percent increase, the combined student charges for 1999-2000 total $31,080.
In a letter to parents mailed on March 12, Financial Vice President and Treasurer Elizabeth Eismeier wrote that the college is limiting increases to the average growth rate of family income nationally over the last two years. ‘We understand that families are concerned about the rising cost of college tuition,’ said Eismeier. ‘Our goal is to contain the increase while relying on greater support from endowment, gifts and other sources to permit enhancements in the quality we can deliver to students.’
The 1999-2000 operating budget includes $19 million in need-based financial aid to be distributed to a larger percentage of the student body than in earlier years. The average grant from Colgate is expected to be roughly $17,500, with almost 39 percent of the student body receiving grant assistance. Within its need-based financial aid program, Colgate remains committed to controlling the use of student loans and the draw on family resources (such as home equity) required to meet college costs. The average four-year student loan burden is $13,000 per student, lower than at many peer institutions.
The number of financial aid awards will be increased, thanks to a higher level of endowment and gift support. Three categories of students are targeted: aided students from middle income families will receive larger grants and be expected to rely less on loans and campus employment; more international students will receive aid; and Colgate will recognize 200 top academic candidates as Alumni Memorial Scholars, 50 percent more than last year, reflecting an increase in the quality of the applicant pool. These top students receive 100 percent grant to meet their financial need, plus a $5,000 fellowship for research or independent projects regardless of financial need.
Student charges are approved annually in March by the Board of Trustees along with operating plans for the coming academic year. Among the highlights of the $91 million operating budget approved by the Board:
o An 8.3 percent rise in expenditures on instruction for each student has been made possible by increased support from Colgate’s $350 million endowment and gifts from alumni, friends, and private foundations.
o Colgate will begin a three-year program to increase the size of the faculty, with the addition next academic year of three new positions in computer science, geography, and history. The additional positions will increase the number of small classes and expand offerings in certain fields where student demand is high.
o The college’s program of off-campus study, with Colgate faculty leading small groups of students in 22 programs around the world, will grow in 1999-2000 with the initiation of a program in Scotland. In addition, several courses will add travel/study components in Israel, Florida, Quebec, Paris, and the United Kingdom.
o Colgate will increase by 50 percent the number of high-tech classrooms on campus, with renovations planned for nine conversions during the summer of 1999. These classrooms provide sophisticated equipment for interactive media and computer support. Continuing Colgate’s commitment to provide students and faculty with advances in technology that support curricular innovation and communications will require enhanced support for Information Technology Services, with additional staff, program support and equipment.
o Increased support is also planned for athletic programs for men and women.
o The college is developing a dedicated website to provide a variety of services tailored to alumni, including lifetime email addresses.
Colgate will break ground in April on a $12 million project to construct a new Art and Art History building, and to re-design the lower campus area between Case Library, the Student Union, Persson Hall, and the new building. This is the first phase of an ambitious plan to re design the ‘front door’ of the campus, connecting the lower and upper campus to the future re design and expansion of Case Library. The new Art and Art History facility will open in the fall of 2000, enhancing a campus that is frequently cited as one of the most attractive and best-maintained campuses among all liberal arts colleges.
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