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.

The Seven Sins of Spending

BY KENNETH SCOTT // OCT. 27, 2014 //

Almost every college student struggles with money management during his or her pursuit of an education. Most of us have learned the hard way how to budget our finances.

The expansive universe that is the Internet possesses countless money management tips and budgeting suggestions for students. While these articles are great resources, I have taken the time to list the “Seven Deadly Sins” of saving money, based upon first-hand experience.

PHOTO BY TAX CREDITS // creative commons
PHOTO BY TAX CREDITS // creative commons

1. Pride
When it comes to saving money, pacing yourself is arguably the most essential aspect. In most cases, the best steps to take are baby ones…no one wants to live like a pauper. Pack a lunch on occasion, or shoot for the $3 sandwich instead of the $7 plate at the Student Center.

2. Sloth
As a self-proclaimed “sneaker collector,” I’ve learned the hard way that spending money is not a good way to save. For me, buying clothes at a clothing store— instead of a sneaker store, which is often more convenient—helps a lot.

3., 4., 5. Lust, Gluttony, and Greed
You should never buy something simply because it “looks good.” A vast majority of sneakers in my collection were bought because they “caught my eye.” This is a terrible spending habit, especially when you wear a size 12 sneaker.

From a greed perspective, it can be viewed as absurd for a man to have 15 pairs of sneakers. There are pairs that I wear maybe once a month. To put it simply, don’t let your eyes or your appetite speak for your wallet.

6. Envy
In life and in money management, it’s wrong and foolish to covet what the next person has. No two lives (or wallets) are the same.

7. Wrath
When you are a college student, it’s easy to have the mindset of “I’m young, I can spend my money now and make up for it later on in life.” This is a warped perception of financial reality because the financial decisions you make now will have a profound effect on your future.

Avoid hating your former self. Now is the time to start saving.

 

The Coffee Fix

BY MICHAEL NOLAN // OCT. 22, 2014 //

What is life like without coffee? Ask most college students and they couldn’t tell you.

We take advantage of how easy it is to get coffee, but we don’t realize the amount of money we spend. According to the National Coffee Association, people in the United States spend more than $40 billion a year on coffee. Yes, that number is right. Billions!

Sure, it gets us going for that 8 a.m. Monday class, and it keeps us up to study all night during finals week. Coffee also helps us stay focused by filling us with energy (ie, caffeine). But is it worth it…financially?

PHOTO BY ZACH INGLIS // creative commons
PHOTO BY ZACH INGLIS // creative commons

The average person spends about $1,100 a year on coffee, according to ABC News. Think about what else could you do with that money! Maybe you could save up for a car. Or, make a real dent in your student loans. Maybe you could afford to eat better, or dress better, or date better.

Those specialty lattes and fancy Frappuccino’s certainly taste delicious (fat and sugar will do that!). But they also cost about $2 more than a regular cup of coffee. I hate to break it to you, but those $2 drinks add up quickly.

To save, think about investing in a coffee maker—they cost anywhere from $20 to $200—or, if you want to go fancy, a Keurig machine. Both require some up-front money, but they pay for themselves within a month, depending on how much coffee you typically drink.

Share the costs with your roommate(s), and the savings won’t just drip along…they will be equal a steady steam.