Hamilton, NY — Colgate University announced several key initiatives and a modest increase in 2001-2002 tuition costs. The Board of Trustees approved the proposed changes and $101.3 million operating budget at its March 14 meeting. The 2001-2002 budget will add four tenure-track faculty positions, provide $21 million for need-based financial support for eligible students, advance Colgate’s reputation for innovative uses of technology in the liberal arts, and further enhance the many qualities of the university’s unique core curriculum. Colgate University has successfully balanced its budget for 37 years.
‘The Board of Trustees is committed to building on the university’s unusually strong base of existing programs and human assets,’ said University President Charles Karelis. ‘The approved budget skillfully combines quality and equity. Colgate’s continued academic distinction is provided for, and our financial aid program continues to encourage highly motivated students to look to this university as their first choice. Colgate University’s future is very bright indeed,’ he concluded.
Colgate’s total student charges for 2001-2002 will increase to $33,480, or 4.4 percent. This slight rate of increase tracks the two-year average increase in personal disposable income, a means of tying Colgate total student charges to national trends in family income. Total student charges is the sum of: tuition ($26,845), room ($3,115), board ($3,340), and an activity fee ($180).
According to Elizabeth Eismeier, financial vice president and treasurer, ‘The Board of Trustees strongly supports the idea that Colgate should control the growth in student charges and, at same time, ensure that academic excellence and the quality of residential and extra-curricular programs are maintained. Fortunately, support for operations provided by Colgate’s endowment will increase by 14 percent, based on strong investment performance. In addition, we are continuing to benefit from the charitable support of alumni, parents and friends of the college and have outlined plans to increase those resources to reduce further our dependence on tuition.’
Colgate’s 2001-2002 budget also:
Provides for an increase in the amount of available student financial aid. It is projected that 38 percent of the Class of 2005, or 276 first-year students will receive financial aid.
Adds four new faculty positions in the fall of 2001 in the departments of classics, economics, mathematics, and music. The increase underscores Colgate’s commitment to an intimate student-faculty ratio, which is now approaching 10:1.
Allocates funds to underwrite a shuttle bus service, available seven days a week, which provides Colgate students, visitors, employees, and area residents with a cost-free, safe and reliable system that connects the campus with the village of Hamilton. The route and shuttle schedules coincide with times of heavy traffic on the hill, in an effort to encourage riders and alleviate an already tight parking situation.
Recognizes that the functional design of the $13 million art and art history building, Little Hall, provides extraordinary teaching spaces for the practice, theory, and history of art at Colgate University. The building opened in January of 2001.
Enhances the Student Activities budget by 80 percent. This increase will expand the extra-curricular choices and recreational programs for campus residents.
Brings the ECAC Division I league to the women’s varsity ice-hockey program. Colgate will now face-off with such varsity teams Brown, Cornell, Dartmouth, Harvard, and Princeton.
‘One of Colgate’s greatest strengths,’ said Karelis.’Is that it provides students with opportunities to grow and mature outside the classroom through interactions with their fellow students, faculty members, staff and the residents of the larger community in which they live. Colgate’s curriculum and supporting programs provide an unsurpassed range of opportunities for intellectual development within a community of people who genuinely care for one another.’
Founded in 1819, Colgate University is a nationally ranked, highly selective, residential, liberal arts college enrolling 2,750 undergraduates. Situated on a rolling 515-acre campus in central New York State, Colgate University attracts students with diverse backgrounds, interests and talents.