Friday January 20, 2006

Trustees Set 2006 Pricing

The University of Dayton trustees have approved a tuition plan that will provide more financial aid to returning undergraduates while allowing UD to hire more faculty and a begin a multi-phase renovation of Marycrest residence hall.

The University of Dayton's board of trustees today approved a tuition plan that will provide more financial aid to returning undergraduate students while allowing UD to hire more faculty, begin a major multi-phase $16 million renovation of Marycrest residence hall, invest in academic programs and offer more competitive salaries to faculty and staff.

Starting in August, undergraduate tuition, fees, room and board will rise 8.1 percent. Since all full-time returning students will receive a $500 scholarship, the increase in the cost of attendance for most students will be 6.4 percent, according to UD officials. Approximately half of the new revenue generated will be allotted to institutionally funded financial aid, according to UD officials, who are promising current returning students the annual $500 award until they graduate.

Trustees approved a 4 percent tuition increase in the School of Law and a 6 percent increase for graduate programs.

Although UD ranks in the top 10 Catholic universities nationally, its tuition is fourth lowest among the 25 largest Catholic campuses, according to UD's institutional research office.

"We are controlling the cost increase for returning undergraduate students while generating revenue to continue to fund strategic initiatives, such as recruiting, developing and retaining a strong faculty and modernizing our older residence halls," said Daniel J. Curran, president. "We will invest in academic programs that build our national reputation for distinctiveness and academic excellence."

Starting in August:

* Annual tuition and fees will increase from $22,046 to $23,970. Returning students will receive a $500 scholarship on top of their existing financial aid packages.

* The annual meal plan will rise $110, from $2,780 to $2,890.

* Average annual housing costs will increase $300, from $4,000 to $4,300.

* Annual tuition in the School of Law will rise 4 percent, from $24,990 to $25,990.

* Graduate rates, which vary according to the program, will increase 6 percent.

More than nine out of 10 UD students receive some form of financial aid. The University of Dayton's current tuition and fees nearly mirror the national average for private universities, which charged an average $21,235 last fall, according to the College Board's annual cost survey.

"As part of our Catholic Marianist mission, we are committed to increasing diversity on campus and serving a wide range of students from all socio-economic backgrounds," said Curran. "It is important to continue making a University of Dayton education accessible to families by increasing scholarship funds and offering competitive financial aid packages."

Although it's early in the college selection process, UD is on pace for another strong year. First-year applications are currently running 5 percent over last year's record, and the School of Law's application volume outpaces last year's strong volume and the national average.

For the past four years, UD has attracted record applications for its first-year class.

Contact Teri Rizvi at (937) 229-3241.