is right? hike for next academic year legislative session, which began Jan. 30, the North Carolina General Assembly will attempt to jumpstart the state’s sluggish economy by building a new tax structure to promote business development and economic sustainability. The State Business Tax Climate Index recently listed North Carolina as one of the worst business tax climates in the country, and Republican lawmakers are considering eliminating the state’s corporate income tax to improve its standing. They may abolish personal income taxes, too, in exchange for higher sales taxes on all transactions, including those that are currently tax-free. The Tax Foundation in Washington, D.C., which produces the State Business Tax Climate Index, also proposed four reform options after reviewing the state’s tax structure at the request of the Carolina Business Association. If the state eliminates personal and corporate income taxes, it will likely repeal the sales and property tax exemptions currently afforded to many non-profit institutions, including
2012-2013
$38,460 2013-2014
$40,047
Elon. Such a repeal would cost the university $3.5 million annually, according to Whittington. “We don’t know what the legislature is going to do,” Whittington said. “But if they do what many are suggesting they do, we feel this is a necessary measure to recover that expense.” If the proposed increases are approved or modified, Elon’s total cost of attendance will remain relatively low compared to many private colleges. John Martin, a prospective student from Berwyn, Pa., said an increase in the cost of attendance would not affect his interest in the university. “For me, my dad made it clear that my student loans will be my debts,” he said. “He said he will help me the best he can, but they will be my responsibility. One thing that really attracted me to Elon was its relatively low tuition for a high quality education. If Elon’s base tuition wasn’t so much lower than other schools, I might have a problem with an increase, but compared to other schools that I could go to, it’s still not a huge difference.”
Total Room and Board 2012-2013 = $9,480 2013-2014 = $9,898
Room and Board Academic Year
Room
Board
1989-1990
$1,400
$1,750
1994-1995
$1,772
$2,101
1999-2000
$2,074
$2,477
2004-2005
$2,936
$3,074
2009-2010
$3,992
$4,244
2010-2011
$4,192
$4,456
2011-2012
$4,440
$4,650
2012-2013
$4,690
$4,790
2013-2014
$4,953
$4,945
News
Wednesday, February 6, 2013 • page 5