Trinity Tuition and Fees and Trinity Budget Explained 2015-2016 - - PowerPoint PPT Presentation

Trinity Tuition and Fees

and Trinity Budget Explained

2015-2016 Fiscal Year

For more information contact: President Patricia McGuire president@trinitydc.edu www.trinitydc.edu

Dear Students, Every February, the Trinity Board of Trustees establishes the tuition and fee levels for the next academic

• year. On February 5, 2016, the Trustees established the tuition levels for 2016-2017. You will find a

statement of these new tuition levels on the following slides. Along with these new tuition levels, you will find additional information to help you to understand how Trinity’s budget works, what your tuition dollar supports, and how to get financial aid. Mindful of that Trinity students and families face financial challenges, the Trustees always strive to keep tuition and fee increases modest. At the same time, the economic climate is posing challenges for Trinity’s finances, including some reduction in charitable gifts and endowment income, and higher prices for goods and services including utilities, insurance and banking fees. After much consideration, the Trustees decided upon a 2% increase for 2016-2017 tuition and fees, the same low rate of increase as the previous year. With this increase, Trinity’s full-time undergraduate tuition next year will be $22,820, compared to more than $32,000 average tuition for private colleges nationally. In the next few slides, you will see how Trinity’s tuition and fees stack up against other universities in this area. We also present important financial aid information as well as budget information of interest to you. We are doing everything possible to control costs at Trinity, and to refrain from passing on all but the most essential expense increases to you, our students and families. I am happy to provide any additional information you may request to help you to plan your Trinity education effectively. Thank you for being a vital part of the Trinity community! President Patricia McGuire

The next slide shows Trinity’s new tuition levels for 2016-2017

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2016 – 2017 TRINITY TUITION AND FEES (Showing Prior Year Comparison) 2015-2016 2016-2017 % Increase COLLEGE OF ARTS AND SCIENCES Tuition (Annual) $22,370 $22,820 2% Tuition PT $700 $715 2% Room (Double) $3,760 $3,760 0% Board (19 Meal Plan) $6,320 $6,575 4% Comprehensive Fee $33,255 $33,798 2% SCHOOL OF NURSING AND HEALTH PROFESSIONS Tuition $22,370 $22,820 2% Tuition PT $700 $715 2% SCHOOL OF PROFESSIONAL STUDIES Undergraduate $540 $550 2% Associates Program at THEARC $180 $185 3% SCHOOL OF BUSINESS AND GRADUATE STUDIES Graduate General $730 $745 2% Graduate MBA $770 $785 2% SCHOOL OF EDUCATION Graduate $730 $745 2% Workshops $530 $530 0%

The next slide shows how the growth in Trinity’s full-time undergraduate tuition (the yellow bars) compares to the growth in private college tuitions nationally (the purple bars)… since 1991!

TUITION 1991-2015

Comparing Trinity FULL-TIME Tuition with National Average for 4 Yr Private College

9 . 9 1 . 6 1 1 1 1 1 1 . 4 1 1 . 7 1 2 . 3 1 2 . 8 1 3 . 4 1 3 . 8 1 4 . 2 1 4 . 7 1 5 . 4 1 6 . 2 1 6 . 7 1 7 . 2 1 7 . 7 1 8 . 2 1 8 . 8 1 9 . 3 1 9 . 7 2 . 1 2 . 5 2 . 9 2 1 . 9 2 2 . 3 2 2 . 8 9 . 3 1 1 . 4 1 1 1 1 . 7 1 2 . 4 1 2 . 8 1 3 . 6 1 4 . 2 1 5 . 3 1 6 . 3 1 7 . 1 1 8 . 5 1 9 . 7 2 2 1 2 2 . 2 2 3 . 7 2 5 . 1 2 6 . 2 2 7 . 2 2 7 . 8 2 9 2 9 . 8 3 3 1 . 2 3 2 . 4 5 10 15 20 25 30 35 1991 92 93 94 95 96 97 98 99 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

TRINITY NATIONAL

7%… .3.7 .…..0 ..3.6%....2.6% …5%……4%….4.6%….3%…...3%…….3%……5%.......5%.......3%.......3%......3%.......3%......3%......3%......2%.......2%......2%.....2%......2% TRINITY PERCENTAGE INCREASEs

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The next two slides shows Trinity’s full- time undergraduate tuition, room and board compared to other similarly sized schools, and to area universities

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18,500 22,370 22,820 23,970 24,720 26,604 27,000 27,900 29,732 30,158 30,378 32,450 32,548 32,930 33,200 33,280 34,530 34,630 35,000 36,284 40,932 11,500 10,080 10,335 10,740 14,830 10,572 12,220 12,230 12,744 10,808 12,167 12,700 10,930 10,200 10,816 13,210 16,460 11,840 11,765 13,920 13,356

10,000 20,000 30,000 40,000 50,000 60,000

Rosemont TRINITY 16 TRINITY 17 Howard U Lesley Carlow Russell Sage Marymount VA St Elizabeth Georgian Court MEDIAN New Rochelle

• C. Notre Dame

Chestnut Hill Chatham Immaculata

• St. Joseph CT

Hood Cedar Crest Emmanuel Catholic U

Tuition and Fees, Room and Board FY16 Trinity and Cohort

2015-2016 Room & Board

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CHRONICLE OF HIGHER ED LOCAL DATA ON TUITION AND FEES Tuition and Fees Tuition, Fees, Room, and Board Institution name 2012-13 2013-2014 2014-2015 2015-2016 2012-13 2013-2014 2014-2015 2015-2016 American $39,499 $40,649 $41,833 $43,556 $53,419 $54,829 $56,241 $57,909 Catholic $36,520 $38,626 $39,726 $40,932 $50,794 $52,852 $54,244 $54,288 George Washington $45,780 $47,343 $48,850 $50,435 $56,310 $58,193 $60,550 $62,485 Georgetown $42,870 $44,805 $46,744 $48,611 $56,706 $58,715 $60,768 $63,711 Howard U $22,683 $22,683 $23,790 $23,970 $32,466 $32,466 $34,710 $34,710 Trinity $20,710 $21,130 $22,316 $22,780 $30,142 $30,788 $32,156 $32,860 U of the District of Columbia n/a n/a $14,535 $7,421 n/a n/a $14,535 $20,621

The next two slides show comparisons of per-credit-hour tuitions for undergraduate and adult studies at area universities, and then for graduate per credit hour tuition rates

980 715 910 690 925 1082 825 780 665 973 1005 1040 900 1550 585 499 1221 660 1417 1430 1308 550 800 525 530 390 485 535 525 521 590 468 835 395 499 200 400 600 800 1000 1200 1400 1600 H

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UG PT F15 UG AD F15

PER CREDIT UNDERGRADUATE/ UG ADULT RATES with Cohort Comparisons FY15

(SHOWING ADULT UNDERGRAD SPECIAL RATES WHERE AVAILABLE)

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1700 745 850 839 1001 680 650 894 540 645 600 770 435 950 680 730 1600 740 659 1363 681 1526 1545 1300 200 400 600 800 1000 1200 1400 1600 H

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PER CREDIT GRADUATE RATES with Cohort Comparisons FY15

(SHOWING ADULT UNDERGRAD SPECIAL RATES WHERE AVAILABLE)

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FINANCIAL AID AT TRINITY

The next set of slides shows the volume of financial aid from all sources awarded to Trinity students; note that all student aid is in this picture, including loans to graduate students (the largest group of borrowers) and scholarships to full-time undergraduates

TRINITYGRANT16, $8,978,145.00 , 25% ENDOWED16, $1,281,043.00 , 4% PELL16, $5,138,461.00 , 14% DCTAG16, $716,564.00 , 2% DCMAYOR16, $317,491.00 , 1% DCCAP16, $192,238.00 , 0% OTHER16, $393,132.00 , 1% DREAM16, $218,910.00 , 1% EMPLR16, $436,479.00 , 1% FEDLOAN16, $17,285,438.00 , 48% PARENT16, $831,259.00 , 2% PRIVATE16, $297,749.00 , 1%

ALL AID FY2016

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While 47% of all student aid comes in the form of federal student loans, Trinity students also receive financial assistance in grants and loans from at least 12 other sources

FED LOAN, 18,116,697 PELL, 5,138,461 EVERYTHING ELSE, 3,368,558 TRINITY GRANT/ENDOWED 10,091,706 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 9,000,000 10,000,000 11,000,000 12,000,000 13,000,000 14,000,000 15,000,000 16,000,000 17,000,000 18,000,000 19,000,000 20,000,000 21,000,000 2016

TRINITY FINANCIAL AID SOURCES FISCAL 2016

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Individually as well as combined, three sources of aid --- federal loans, Trinity grants/endowed scholarships and Pell grants --- are larger by volume than all other sources combined.

FED LOAN 20285331 FED LOAN 22834970 FED LOAN 26135700 FED LOAN 26073473 FED LOAN 23253088 FED LOAN 20,888,778 FED LOAN 17,285,438 TRINITY GRANT, 6061568 TRINITY GRANT, 7176362 TRINITY GRANT, 8101247 TRINITY GRANT, 8589148 TRINITY GRANT, 8604410 TRINITY GRANT, 8,983,720 TRINITY GRANT 8,978,145 PELL GRANT 3959419 PELL GRANT 5204536 PELL GRANT 5319498 PELL GRANT 5993818 PELL GRANT 5879012 PELL GRANT 5,838,097 PELL GRANT 5,138,461 5000000 10000000 15000000 20000000 25000000 30000000 35000000 40000000 45000000 2010 2011 2012 2013 2014 2015 2016 TOTAL FY10: $34,349,876 TOTAL FY11: $39,717,169

SOURCES AND VOLUME OF STUDENT SUBSIDIES FY10 TO FY16

TOTAL FY12: $43,799,551

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TOTAL FY13: $45,823,822 TOTAL FY14: $42,007,759 TOTAL FY15: $40,908,524 TOTAL FY16: $36,882,904

The following slide shows the major areas of expense for Trinity’s budget

48 cents = Salaries and Benefits for Trinity’s Faculty and Staff 10 cents = Facilities including utilities 3 cents = Security + Shuttle 1 cent = Debt Service 3 cents = Food Service >1 cent = Advertising 1 cent = Insurance, Legal, Audit 9 cents = Everything Else (Supplies, Equipment, Fees, Postage) Trinity Fiscal 2016 Expense Budget = $41 Million Gross including Trinity Grants: for every dollar Trinity spends here’s how the money is allocated… 24 cents = Trinity Grants and Scholarships for Trinity Students

THE BOTTOM LINE

• We know that our students and families experience a great deal of

financial stress in pursuing their dream of a Trinity education. In the current recession, we are doing everything possible to sustain Trinity’s quality while restraining prices. We provide extensive financial aid for

• ur students to help them achieve their educational goals.
• As a private university, Trinity does not receive the taxpayer-subsidized

support of the public universities in this region, like the University of Maryland or George Mason. Our main source of operating funds comes from tuition, gifts and grants, and payments for auxiliary services like conferences.

• Trinity makes every effort to control costs while providing a high quality

learning experience for every student. Our devoted staff and faculty work long hours with modest amenities to make this education effective each day.

Continued…

THE BOTTOM LINE

• Trinity’s top priorities in every budget cycle are those budget items that

contribute to excellence in education here:

 improving faculty salaries;  continuous upgrades of Trinity’s technological capacity, especially academic technology and the telecommunications infrastructure;  improvement in Trinity’s student services like academic support and advising; and  continuing to fund a large amount of student financial aid through Trinity’s own resources.

• We also must attend continuously to facilities needs and the growing costs
• f additional regulatory compliance imposed by federal and local

governments.

• Trinity has made a large commitment to improving academic facilities and
• technology. The new Trinity Academic Center will open in Fall 2016 for
• classes. The expenses associated with the construction of this new

building are largely subsidized through charitable gifts. Trinity will begin master planning later in 2016 to address the next phase of facilities development including the library, Main Hall renovations, and campus housing.

FREQUENTLY ASKED QUESTIONS

About College Tuition … at Trinity… at other universities

College Tuition FAQ’s

• Why Does Tuition Go Up Every Year?
• Labor. Technology. Utilities. Facilities.

Many reasons drive annual tuition increases. The most notable reason stems from the fact that colleges and universities are largely labor-driven businesses, meaning that salaries and benefits are our primary expense. At Trinity, salaries and benefits account for 48% of our expense budget, which is below

• normal. Our faculty and staff expect to get raises every year, just like other workers.

These raises help our employees to keep up with the cost of living. At Trinity, where salaries and benefits are relatively modest, annual raises have held steady at 2-3% or less for many years. We also often have to add faculty and staff to keep up with the instructional and service needs of our students. Or, we might want to add a new program, like Nursing, that meets a distinctive workforce need in our region. Personnel additions are an investment cost that we hope will pay for themselves over time, but in the first few years, they are often additions to budget without offsetting revenues. Trinity must also purchase goods and services in order to deliver our academic programs -

• - everything from the cost of insurance to telephone and internet providers to food

service to electricity, water and natural gas. These expenses are rising all the time, and so Trinity’s tuition increases keep up with the rising costs of goods and services we must purchase.

College Tuition FAQ’s

• OK, I get it about some annual increases, but why does tuition go

up faster than the rate of inflation?

 Some of the goods and services that Trinity must buy have price rises that are much higher than inflation --- for example, the cost of employee health care goes up every year. The cost of water and electricity in the Washington region is skyrocketing.  Every time the federal or local government passes a new regulation affecting higher education, we have additional legal fees and other fees and costs to ensure compliance. The new Higher Education Act has 110 NEW federal regulations that we have to abide by.  We also want to make ongoing investments in technology, and the cost of technological equipment and services is very high, and we have to invest more than just a “steady state” increase each year in order to provide “state of the art” equipment and software.  It’s also no secret that we have some fairly old buildings on Trinity’s campus, and we are constantly trying to upgrade our older infrastructure. Upgrading or replacing the old infrastructure costs a lot more than simply the price of a spigot at Home Depot --- in many cases here at Trinity, we have to special order parts because our mechanical equipment is so very special.  Every time there’s a bad incident on a college campus elsewhere --- a violent crime, a weather catastrophe --- we have to do a “risk management” review here to see how prepared we are to cope with a crisis. Often, in planning a better response, we have to spend additional money on personnel, consultation, equipment or other services in order to improve our ability to respond to a crisis.

College Tuition FAQ’s

• Those seem like all administrative issues, but I came here to get

a great education. How do the faculty and academic programs benefit from tuition increases?

 Beyond increases in salaries and benefits mentioned above, Trinity also continuously assesses whether to add full-time faculty or staff positions to serve the academic and co-curricular needs of students. For example, with the growth in demand for Nursing, Trinity will be adding more faculty in that discipline, along with disciplines like Criminal Justice, Business, Psychology and in related programs, all of which enroll large numbers of majors or support large general education courses.  Trinity will continue to add staff in related Academic Services like advising and academic support, as well as in Enrollment Services where so many students go to get assistance with registration, financial aid, and preparation for graduation.  Improving academic technology is a continuous focus at Trinity. All computers and peripherals in classrooms, labs, faculty offices and elsewhere are on a continuous upgrade plan, and often the equipment needs replacement at an earlier moment. Software upgrades must occur frequently, and sometimes we need to retain consultants to assist with academic technology needs.

Trinity Welcomes Your Input!

To Comment on this Slideshow

• r to Receive Additional Information

Please Contact:

President Patricia McGuire president@trinitydc.edu 202-884-9050 Office of the President 125 Michigan Avenue, NE Washington, DC 20017