10.4.12

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OLD GOLD&BLACK WAKE FOREST UNIVERSIT Y

BLOGS

OPINION

LIFE

SPORTS

NEWS

VOL. 96, NO. 7

Deacon Profile: Brantly Shapiro Page 3 Campus welcomes Liberian delegation Page 5

Introducing new basketball coach Page 11

da Luz clinches 200th soccer win Page 11 Kanye advances rap with Cruel Summer Page 17 Marisol presents apocalyptic world Page 19

Atwood on the lack of peacetime Page 7 College Dems vs. Repubs: Immigration and welfare Page 10 Jacqueline Sutherland: Living in a new culture at “home”

T H U R S DAY, O C TO B E R 4 , 2 01 2

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New building, new options Einstein Bros. Bagels, Starbucks among choices in Farrell Hall BY CHARLIE FRANKEL Staff Writer francj9@wfu.edu In the coming years, the university will be implementing major expansions for its oncampus dining options. An Einstein Bros. Bagels will be available in Farrell Hall, the new home for the Schools of Business, set to open in August 2013. Additionally, there will be a dining hall constructed on the north end of campus that will open in December 2013. The new dining hall, to be built between Farrell Hall and the future dorms, will have

See Dining, Page 5

Julie Huggins/Old Gold & Black

Farrell Hall, the new business school opening in Fall 2013, will provide new convenient dining locations for North campus residents.

“ debt Students face mounting

Average Wake Forest student loans higher than at other private universities BY HEATHER TSAI Contributing Writer tsaiht12@wfu.edu The average portrait of a college student usually involves the word “debt.” This is true for most universities across the nation, but is it true at Wake Forest? With the general reputation of being from well-to-do families, how prevalent is financial aid among Wake Forest students? Furthermore, how much of a role does the Office of Financial Aid play on campus? Bill Wells, director of financial aid, counters the notion that all students at the university come from wealthy families. Wells’ position is backed by the university’s increase in diversity; this freshman class is statistically the most racially and

socioeconomically diverse group yet. Rising college sticker prices confound inflation rates. For most private institutions, tuitions rise for greater investment in student resources and not to adjust to cuts in government subsidies. The highest increase in tuition at the university, according to Wells, was 7 percent. Overall, Wake aims to maintain a year-to-year increase of 4 percent. The College Board estimated that the average tuition and fees costs in 2011-12 totaled $28,500, whereas the cost of Wake Forest’s tuition and fees cost students $41,100. These numbers are both greater than the College Board estimates of in and out-of state tuition for public universities, which were averaged at $8,244 and $20,770 respectively. It is understandable, then, that the average debt of a U.S. college graduate nears $25,000. According to the New York Times: Interactive College Debt Chart, the average Wake Forest 2010 graduate had $33,000 in loans. Duke University students aver-

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Graphic by Ian Rutledge Old Gold & Black

I wasn’t planning on starting my postacademic life with quite as much debt as it now seems that I will. Emily Zier Junior

aged $22,000, Vanderbilt $19,000, and UNC-Greensboro $24,000. But some extreme cases do exist. At the little-known private college of Ohio Northern University, the typical graduate has $49,000 of debt. At the university, loans will still be high. Although 97.4 percent of one student’s tuition over the past three years and other costs have been covered by university aid, they will still graduate with at least $32,800 in debt. Another student who has had 94.9 percent of their tuition and costs covered over the past three years will still graduate with at least $13,500 in private loans. When calculating a student’s demonstrated need, private universities like Wake Forest use the College Board’s methodology. The calculation for financial aid thus adds factors such as a student’s non-custodial parent’s assets into the equation, whereas the federal methodology that public colleges use does not take such factors into account when calculating aid. Wake Forest’s high cost compared to competing universities is also due to a smaller, less-endowed alumni network and a remarkably low student-to-teacher ratio. “Most of the money spent coming in from tuition is used to pay people,” Wells said. “People include an enormous staff and the

See Loans,Page 4


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