Tuition Decrease: Pine Manor College
Lowers Tuition by 34%
Pine Manor College Uses Alumna Bequest to Provide
Greater Access to Education for Young Women
December 9, 1997
Chestnut Hill, Massachusetts - Bucking the national trend of skyrocketing
higher education costs, the Pine Manor College (PMC) Board of Trustees
has made a groundbreaking move by using a $4 million bequest to cut
its tuition rate by 34% or $5,700. The Board took this action to provide
greater access to quality higher education for a wider range of young
women. Tuition will drop from $16,700 to $11,000 and the cost including
room and board at the private four-year women's college will decrease
from $23,600 to $17,900, a 24% reduction. In the fall of 1998, the
new lower tuition will be available for all students, including those
currently attending the college.
The unrestricted bequest from an alumna, Frances Crandall Dyke
(class of '25), enables PMC to advance its commitment to make college
affordable for a broader spectrum of students, particularly middle
income families.
"More and more women are unable to consider the benefits of private
education due to the rising costs," stated President Gloria Nemerowicz.
"Middle income students are often ineligible for scholarships, yet
their parents cannot afford to pay. For some time the Board of Trustees
has felt an obligation to respond to the needs of students and their
families. This $4 million bequest, which will benefit future generations
of women, places us in a leadership position in providing access
to higher education for more women. Making our campus available
to women from all income levels is consistent with the college's
mission and our programs of education for inclusive leadership and
social responsibility."
For the fifth straight year, national tuition and fees have increased
by 5%, outpacing the 2.4% rate of inflation. Student debt has doubled
in the past six years, increasing from $8,200 to $18,800, according
to a recent Nellie Mae national survey. The continued rise in tuition
has prompted Congress to exhort members of the National Commission
on the Cost of Higher Education to find specific ways that government
could help rein in the growing cost of higher education. Additionally,
more students are attending their home states' public universities
instead of private institutions because of the substantial price
difference.
The college is taking this bold step after having successfully
completed a $20 million capital campaign, increased enrollment and
constructed a new $4 million Campus Center.
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