Friday January 19, 2007

New Pricing

The University of Dayton's board of trustees today set pricing for the fall and committed to investing in student housing. All returning students will receive a $500 scholarship.

For the third year, the University of Dayton's board of trustees approved a tuition plan that will provide more financial aid to returning undergraduate students while allowing UD to hire more tenure-track faculty, invest in student housing and offer more competitive salaries to faculty and staff.

Starting in August, undergraduate tuition, fees, room and board will rise 7.7 percent, but it only will impact new students. Since all full-time returning students will receive a $500 scholarship, the increase in the cost of attendance for most students will be 6 percent, according to UD officials. They will receive the annual $500 award until they graduate. Approximately 40 percent of the new revenue generated will be allotted to institutionally funded financial aid with a strong focus on need-based aid, according to UD officials.

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

Among Catholic universities, UD's tuition is among the lowest in the country and nearly mirrors the national average for private universities. Although UD ranks in the top 10 Catholic universities nationally, its undergraduate tuition is fifth lowest among the 25 largest Catholic campuses, according to UD's institutional research office. Its current tuition and fees is slightly higher than the national average for all private universities, which charged an average $22,218 last fall, according to the College Board's annual cost survey. More than nine out of 10 UD students receive some form of financial aid.

"This tuition plan will limit the cost increase for returning undergraduate students while generating revenue for recruiting strong faculty, modernizing our older residence halls and building new housing," said Daniel J. Curran, president.

This summer, UD will invest $10 million to finish renovating rooms in Marycrest Hall, which houses 900 students, and build a duplex and renovate five other houses in the student neighborhood. In the fall, University Place, located on the corner of Brown and Stewart streets adjacent UD's main entrance, will open. The $9.5 million two-story, mixed-use development, which includes 30,000 square feet of retail space, will house 50 law or graduate students in apartments for one or two occupants. Miller-Valentine Group is developing, building and managing the property, with the University of Dayton as part owner.

Student salaries will increase $2 million annually, following changes in the minimum wage law. Salaries and benefits for faculty and staff will increase an average 4.9 percent.

Starting in August:

* Annual undergraduate tuition and fees will increase from $23,970 to $25,950. Returning students will receive a $500 scholarship on top of their existing financial aid packages.

* The annual meal plan will rise $160, from $2,890 to $3,050.

* Average annual housing costs will increase $250, from $4,300 to $4,550.

The University of Dayton ranks as a top-tier, national university. The largest private university in Ohio, it was founded in 1850 by the Society of Mary (Marianists), a Roman Catholic teaching order.

For more information, contact Teri Rizvi at 937-229-3255 or rizvi@udayton.edu.