Costly Curry; Tuition Set to Increase by 2.9%
BY MATTHEW WEDDLETON // MARCH 30, 2016 //
You hear it all the time, “College is so expensive!” Unfortunately for Curry students, tuition is set to increase by 2.9% for the 2016-2017 academic year.
As a private institution, Curry College is listed among top 30 “Most Expensive Colleges in Massachusetts.” For the upcoming academic year, the total cost for residents living on campus will be $51,815. This total does not take into account the PAL Program, as well as indirect costs that could bring students total bill to well over $60,000 per year.
According to David Nerenberg, interim chief financial officer and director of finance at Curry College, “The costs of running an institution of higher education, particularly in New England, grow faster than the rate of inflation.”
Curry College’s website states that 70% of students receive financial aid. However, Nerenberg believes the number of students who receive some form of financial aid has risen to about 94%.
Sophomore business management major Renata Pinto said, “The price of tuition already draws current students away from Curry, and with the raise it will not only draw more current students away, but incoming students as well.”
With the increase of tuition for the upcoming year, Pinto said she is questioning whether or not to return to Curry in the fall.
“Although Curry is a great school academically, I have already thought about transferring many times, and with the raise scheduled for next school year it brings up a concern about continuing my education here,” she said.
In the 2015-2016 academic year, the average cost of tuition for private colleges across the country was said to be at $32,405 according to College Board. Nonetheless, students at Curry will be expected to pay $35,740 for tuition alone, which is above this past year’s national average.
If the inflation rate of tuition went up 2.9% every year for the next 15 years, Curry students would be expected to pay slightly over $50,000 for tuition alone.
“There are many external environmental factors that can vary significantly each year, such as health insurance and energy costs, which preclude predicting tuition changes years in advance,” said Nerenberg.
A report by the Boston Business Journal said that the total operating revenue at Curry declined by about $1 million to $86.6 million in fiscal 2015. According to Nerenberg, 89% of Curry’s operating revenue comes from student tuition, room & board, and other fees.
Nerenberg said that Curry is continuing to take significant steps to contain its expenses, as well as provide increased institutional financial aid to students.