3.9% increase in tuition

Colleges and Universities A-Z Rensselaer Polytechnic Institute
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<p>Institute Financial Update
cara riverso</p>

<p>senior reporter</p>

<p>At the President’s Spring Town Meeting, President Shirley Ann Jackson announced some key financial updates that will be occurring during the coming year at Rensselaer. The Board of Trustees recently approved the Institute Budget at its meeting on February 27 that will “enable us to focus our energy and resources on the core activities that are central to our mission and purpose, with continued investment in faculty hiring and in selected student life initiatives,” according to Jackson.</p>

<p>The overall operational budget for Fiscal Year 2011 amounts to $387.9 million, a 2.5 percent increase over the current-year approved budget. Most notable to students, the Board of Trustees has approved undergraduate and full-time graduate tuition for the 2010-2011 academic year. </p>

<p>Tuition for full-time undergraduate and full-time graduate students will be $39,600, an increase of 3.9 percent, while many other universities tuition increases in the four to five percent range, according to Jackson. On average, room and board rates will also increase 2.9 percent. </p>

<p>Jackson also announced that financial aid will receive a boost in the upcoming year of more than seven percent from the current levels, which will amount to a total of $89 million. Jackson noted that this includes “significant resources to assist financially needy students who encounter unexpected financial hardships during their time at Rensselaer.” The minimum academic year stipend for graduate students will also be increased from $16,500 to $17,500. </p>

<p>Jackson also announced that during the Fiscal Year 2011, the Institute will recruit to fill 37 tenured and tenure-track faculty positions—spread through the academic schools—which includes eight constellation hires.</p>

<p>Jackson announced that a pool of funds has been set-aside in the budget for merit employee raises and guidelines for the allocation of this merit budget pool are currently being developed.</p>

<p>Finally, Rensselaer will continue to be hiring within the Clustered Learning, Advocacy, and Support for Students initiative, such as for class deans, to ensure that the initiative stays on track. </p>

<p>The</a> Rensselaer Polytechnic Institute Financial Update</p>

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<p>Does that mean that the bill we received with the financial aid award is inaccurate? we may be facing higher tuition and housing/dining?</p>

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<p>Full email:</p>

<p>To: The Rensselaer Community
From: Shirley Ann Jackson, Ph.D.
President
Professor of Physics
Professor of Engineering Sciences
Date: March 17, 2010
Re: Fiscal 2011 Budget</p>

<p>As Rensselaer continues to navigate its way through challenging
financial times, we recognize that our students and their families face
the same challenge. We therefore have increased our financial aid budget
for the 2010-11 academic year at a significantly higher rate than the
tuition increase. As detailed below, the financial aid budget will rise
by 7 percent, and the tuition will increase by 3.9 percent.</p>

<p>At its meeting on February 27, the Rensselaer Board of Trustees approved
an Institute budget for Fiscal Year 2011 that will enable us to focus
our energy and resources on the core activities that are central to our
mission and purpose, with continued investment in faculty hiring and in
selected student life initiatives.</p>

<p>The overall operational budget for Fiscal Year 2011 amounts to $387.9
million, a 2.5 percent increase over the current-year approved budget.
As always, it represents a balanced budget.</p>

<p>Tuition for the 2010-11 Academic Year</p>

<p>The Board of Trustees has approved undergraduate and full-time graduate
tuition for the 2010-2011 academic year. Tuition for full-time
undergraduate and full-time graduate students will be $39,600, an
increase of 3.9 percent. We are beginning to see enacted by other
universities tuition increases in the 4 to 5 percent range. On average,
room and board rates will increase 2.9 percent. Graduate tuition rates
for the Education for Working Professionals program also have been
approved by the Board of Trustees.</p>

<p>Financial Aid Increase</p>

<p>We have continued the steps taken, begun in 2005, to enhance our
financial aid resources. The financial aid budget will be increased
more than 7 percent from the current-year level, to $89 million.
Included in this are significant resources to assist financially needy
students who encounter unexpected financial hardships during their time
at Rensselaer. This special aid pool, established several years ago, has
been increased.</p>

<p>Academic Enterprise</p>

<p>The academic enterprise lies at the heart of our ability to provide the
best educational experience for our students. In Fiscal Year 2011, we
will recruit to fill 37 tenured and tenure-track faculty positions,
spread through the academic schools and including eight constellation
hires.</p>

<p>I am very pleased to announce that the minimum academic year stipend for
graduate students will increase from $16,500 to $17,500.</p>

<p>Employee Raises</p>

<p>In our efforts to continue stable pay growth during these difficult
economic times, a set-aside merit budget pool has been included in the
budget for Fiscal Year 2011. Guidelines for the allocation of the merit
budget pool currently are being developed.</p>

<p>Student Experience</p>

<p>The Division of Student Life will continue to move forward with the
development of the “Clustered Learning Advocacy and Support for
Students” (CLASS) Initiative, designed to elevate the undergraduate
experience. Commons and Class-year deans have begun to be hired, two new
residence facilities were opened this year, and infrastructure to
support more participation in an international student experience is
under development. Programming and support costs for the East Campus
Athletic Village, a resounding success in its first year of operation,
have been incorporated.</p>

<hr>

<p>We must anticipate that the next several years will continue to prove
economically challenging for our country and the world. Rensselaer,
like other universities, has not been immune. Strategic direction and
focus have never been more critical. As we navigate our way through the
economic recovery, The Rensselaer Plan remains our compass. As always,
I thank you for your hard work and dedication to Rensselaer.</p>

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<p>I am concerned as my son is returning after year one to RPI. FA was grim enough the first year - what can we expect, and when can e expect the FAFSA answer for next year? By email or mail?</p>

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<p>When I spoke to Fin Aid a few weeks ago, I was told that they first award aid to incoming freshman then get to upperclassmen around May 1st.</p>