150 pounds of concrete canoe
The return of Pilotpalooza Living, page 7
The
Living, page 8-9 Vol. 112, Issue 23
BEACON The University of Portland’s student newspaper
Thursday April 14, 2011 www.upbeacon.net
UP and your money: Adding Professional fees it all up A Beacon primer on where UP gets money and how UP spends it increase Caitlin Yilek Staff Writer yilek12@up.edu Every year, the increasing cost of tuition and other college expenses burns a hole in the wallets of students and their parents. UP students should expect a 4.5 percent increase in tuition for
Other resources: 14%, see page 4
the upcoming academic year. Room and board rates are increasing by almost 7 percent. Despite the increases, tuition and payments for room and board still do not fully cover UP’s costs, according to the administration. So where does the rest come from? And why does everything cost so much? The Beacon breaks it down for you.
Where UP gets its money 2. Room & Board: 1. At 75 percent of UP’s revenue, tuition is UP’s largest source of revenue, according to data provided by Denis Ransmeier, vice president for 11%
Financial Affairs. With the 4.5 percent increase in tuition, according to Ransmeier, UP is expected to take in $120 million from tuition during the next academic year. This is nearly $8.5 million more than this year. 2. Room and board is 11 percent of UP’s revenue. A standard room in the residence halls will cost $5,660 during the upcoming academic year. The average cost of a meal plan is a little more than $4,700.
1. Tuition: 75%
For “other resources,” see Revenue, page 4
How UP spends its money Major expenses
4. Student Salaries: 2%
1. UP’s largest expense is financial aid. Thirty-four percent of UP’s income is spent on financial aid. “This means that 34 cents of every dollar spent goes toward student scholarships and grants,” Ransmeier said. This 34 percent does not include student loans. 2-3. The second largest UP expense is staff salaries, followed closely by faculty salaries. According to Ransmeier, UP employs 393 full-time and 60 part-time staff as well as 205 full-time and 116 part-time faculty. 4. Student salaries, such as work-study positions, make up 2 percent of UP’s expenses.
Bang for your buck UP ranks number one in Oregon for return on investment
On April 7, Bloomberg Businessweek recognized UP as the number one school in Oregon for return on investments in terms of how much bang UP students get for their buck. Schools were ranked by how much a student spends getting a degree and how much on average a graduate from that school makes over the course of his or her career. “This shows that the value of the UP education lasts throughout a lifetime,” Laurie Kelley, the assistant vice president of Marketing and Communications said. Bloomberg Businessweek estimates the 30year net return on investment for UP graduates is $779,600. Oregon State University, Linfield College and the University of Oregon were runners-up. -Caitlin Yilek
Other expenses: 38%
3. Staff Salaries: 14%
1. Financial Aid: 34%
2. Faculty Salaries: 12%
Other expenses 9. CapitalRenewal/IT/ Library: 3% 8. Utilities: 2%
10. All other direct expenses: 9% 11. Contingency: 1%
7. Services purchased: 9% 6. Debt services: 4% 5. Fringe benefits: 10%
For 1 - 7 explanations, see Expenses, page 5
Financial aid and salaries: 62%
This year, tuition was $32, 190. With the 4.5 percent tuition increase, students enrolled in the College of Arts and Sciences can expect to pay $33,640 next year – an increase of $1,450. In addition to the 4.5 percent tuition increase, the professional tuition fee will increase from $35 to $50 per credit hour, a 43 percent increase. According to Ransmeier, the increase of the professional fee is due to salary increases for the faculty in the professional schools. The increase of the professional tuition fee is added to the 4.5 percent increase for students taking classes within any of the professional schools – the Pamplin School of Business Administration, the Donald P. Shiley School of Engineering, the School of Nursing and the School of Education. “Say you are taking 15 credits each semester while enrolled in the School of Nursing,” Ransmeier said, “This year you are paying $1,050 in professional fees, while next year you will be paying $1,500.” Because students in the professional schools have to pay $1,500 on top of the $1,450 from the general tuition’s 4.5 percent increase, they will actually pay 5.6 percent more to attend UP next year. “This percentage will be different depending on how many credits you are taking,” Ransmeier said. There will also be an increase in room and board. Bon Appétit is expected to raise menu prices by 1.8 percent, an increase attributed to rising food prices. According to Ransmeier, students pay UP for room and board and then UP pays Bon Appétit for the meal plan. Though students will see an increase in tuition, room and board and the professional tuition fee, UP has eliminated the summer registration fee, which is $50. “Generally the University is not in favor of having fees,” Ransmeier said. “We don’t want to nickel and dime students with fees, so we dropped that one.” There will also be no increase in the $70 ASUP student government fee charged each semester. -Caitlin Yilek