William Lucas -Mirror file photo
Although the budget committee has said that there has been an increased demand for financial aid, some students remain worried about whether or not they will be able to receive financial aid for the 2009-2010 academic year.
The budget committee anticipates spending $31 million on financial aid from University funds, while the total budget for financial aid for this year is about $35 million. The rise in University sponsored financial aid from the 2008/09 budget to the 2009/10 budget will be $4,102,000, whereas the rise in financial aid from the 2007/08 to the 2008/09 budget was $3,601,000.
At this year’s budget meeting on Monday, April 6, University President Fr. von Arx and University Budget Committee Chair William Lucas said that tuition is increasing by only 3.9 percent. This increase in tuition is the smallest it has been since 1973, according to von Arx. Still, University students will be paying more for tuition and board than both current and prospective students at Yale.
According to an article from The Connecticut Post, the 3.9 percent increase raises Fairfield U’s tuition to $37,490 ‘- and with room and board, it comes to $48,790. Just a few towns over, Ivy League Yale’s tuition and fees have risen $1,200, or 3.3 percent to $36,500 ‘- and with room and board, the total amounts to $47,500.
‘I’m lucky that I was able to get financial aid for this year,’ said a sophomore at Fairfield University. ‘Everyone will be getting less financial aid money on an individual basis with the way the economy is going.’
Von Arx and Lucas have pledged that one of their main priorities for the 2009-2010 academic year is financial aid, so essentially, students should have nothing to worry about.
The unknown variables of student retention levels, as well as student enrollment levels were also discussed at the budget meeting, both of which cannot be predicted. At the April 6 meeting Lucas said that he is ‘confident in Fairfield University’s ability to retain students.’
The budget committee is planning on utilizing the financial aid factor in order to retain current students, as well as attract prospective students by advertising the fact that ‘almost all of the tuition and fees increase will be fed back into financial aid,’ said Lucas.
The approved FY 10 (Fiscal Year 2010) University Operating Budget shows the need to reduce the current budget by $3.2 million, however, the specific reductions have not been identified yet; the reductions will be decided at the next Board meeting on June 4.
Von Arx maintained that this year, the budget committee has taken a ‘financially conservative approach’ when discussing the budget plan. He mentioned that they have been deferring hiring new faculty and staff, and will also not be giving pay raises to University employees; however, he also stated that four new faculty positions have been added.
When asked what they would be willing to sacrifice if retention and enrollment levels drop, Lucas said that programs must be cut, and that specifically 10 percent of programs will have to be cut.
‘We are not going to make cuts across the board,’ said von Arx. ‘As we make cuts, we will be keeping in mind the strategic plan, and programs’ proximity to the strategic plan.’
Von Arx and Lucas asked the students in attendance during the budget meeting, where they thought cuts could be made, or what programs aren’t as important as others.
According to his statement, some programs will have to be completely cut out, but others that are in ‘proximity to the strategic plan’ will be kept completely intact.
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