2% Tuition Hike Set for 2013-2014
Published: Friday, February 22, 2013
Updated: Sunday, February 24, 2013 16:02
With economic uncertainty still looming on the horizon, it should come as no surprise to most people that prices are on the rise. Likewise, in a February newsletter, Holy Cross President Rev. Philip Boroughs, S.J. announced that the tuition, standard room and board, and mandatory fees for the 2013-2014 academic school year would be set at $56,232. This represents a 2% increase over current charges.
There is, of course, a negative thought process associated with any price going up. However, this mere 2% increase in tuition is in fact the lowest increase in well over 40 years here at Holy Cross. Last academic year, the College saw a 4.5% increase.
In the long run the College hopes to use extra tuition money to uphold core academic disciplines, as well as enhancing the rigorous academic experience and the Jesuit and Catholic identities of the College.
In a letter Fr. Boroughs assured the Holy Cross community that he and the Board of Trustees are aware that “even a minimal increase in fees will have an impact on our students and families.” And while it is quite true that the high price of a Holy Cross education has increased even more, it is important that we keep in mind the flipside.
In 2011, Newsweek listed Holy Cross as the fifth best college in America for “return on investment,” perhaps noting the well-above average acceptance rates for graduate school, particularly medical and law school. In 2012, Kiplinger’s Personal Finance Magazine listed the College of the Holy Cross as number twenty-five on its annual list of “best value” schools. To compile the list, the magazine took into account cost and financial aid, student indebtedness, academic support, and graduation rate. Holy Cross was especially noted because of its commitment to meeting 100% of demonstrated financial need.
“Access to and the affordability of a Holy Cross education is a priority to all of us at the College,” said Fr. Boroughs. “This increase will allow us to continue the exceptional work taking place on campus, and will ensure the quality you expect and deserve from Holy Cross is not diminished or compromised.”
Indeed, there are exceptional happenings here on the Hill. The recently constructed Integrated Science Complex serves as a research and learning center for students and professors alike. A mere few days ago, alumnus Cornelius Prior donated $25 million to be put towards the arts. This donation represents the largest in the history in the College. The future of Holy Cross looks as bright as ever, and will only be made brighter by a higher rate of tuition.
“We are steadfast in our efforts to maintain and improve what attracted you and your family to Holy Cross in the first place,” concluded Fr. Boroughs. “We are committed to educating young women and men to succeed and to make a difference in our neighborhoods and cities, our nation and the world.”