Undergraduate students will pay 3.7 percent more to attend Marquette in the 2014-15 school year, as the school announced it will add $1,280 to the tuition price in a University News Brief Thursday.
The increase, which brings the full-year tuition rate to $35,480, continues a trend of Marquette’s tuition growth slowing over the past four years. This is the smallest jump in tuition since the increase for the 2009-10 school year.
In a letter to parents, Interim University President the Rev. Robert A. Wild said the university achieved this reduction in price growth by examining its budget and making “cost-reduction initiatives.”
“My top priority since October has been working with the university leadership team to take a proactive approach to reduce costs and improve efficiencies across campus,” Wild wrote in the letter. “This fiscal focus recognizes our need to control costs for students and parents, while continuing to provide a Catholic, Jesuit education steeped in excellence.”
In addition to an increase in tuition prices, rates for room and board will increase at an average of 2.5 percent, according to the news brief. Other prices will not increase, though, such as for part-time enrollment, the graduate school, the graduate school of management or the college of professional studies.
“Finalizing the tuition rate is just one of many steps in the budget process, which is ongoing,” said Andrew Brodzeller, associate director of university communication, in an email.
Marquette tuition increases every year to keep up with the rising costs of higher education. In the university’s Financial Overview, the Office of Finance identifies the key cost drivers in the industry, which includes labor, maintaining capital assets like buildings and equipment, technology and the regulatory environment.
Vice President of Finance John Lamb said in an interview in October that there has been a deliberate attempt to keep costs low the past few years. For example, last fiscal year’s budget was scaled back by about $2.5 million. Lamb said the university is looking to make cuts into budget for Fiscal Year 2015 as well.
“We’re having discussions all the time,” Lamb said in the interview. “Everything’s on the table. We’re looking at personnel and we’re going to try to justify each of the positions.”
As part of the process to shape the budget for FY2015, the President’s Advisory Group asked each dean and division head of the university to prepare three budget cut scenarios — 5 percent, 10 percent and 15 percent — in December. Lamb said in an email that faculty salary expenditures are exempt from the budget scenarios, and the focus of the budget assessment process will be on administrative expenditures.
Brodzeller said the President’s Advisory Group will continue to meet with university leaders to review the budget scenarios during the next few weeks.
“The budget scenarios were provided to ensure the process is reflective, thoughtful and inclusive, while providing multiple options to assess how the university can best manage costs and continue to provide a world-class education for our students with faculty and staff dedicated to their work and the Marquette mission,” Brodzeller said.