Belmont Abbey College Reset Tuition to $18,500 for Traditional Undergraduate Students.
Belmont Abbey College reduced its tuition price by 33% to $18,500 per year beginning in fall 2013 for all students. This tuition reset makes Belmont Abbey College one of the most reasonably-priced private colleges or universities in the country.
Read the official press release from Belmont Abbey College.
We reset tuition to help burst the private education tuition bubble and provide an outstanding education opportunity for all students at an affordable price. Average tuition has spiraled out of control, having risen 440% in the past 25 years and many good students are discouraged from applying to colleges based on the published price alone. These escalating costs make a quality education seem out of reach to many students and their families. We want to reverse this trend.
By resetting tuition at $18,500, Belmont Abbey College will help close the gap between the published tuition price and actual cost. We will also attract more students looking for a reasonably-priced private college education with a focus on development of the whole person in mind, body and spirit.
Ever escalating tuition costs are unsustainable. With our enrollment at an all-time high, the recent addition of extraordinarily-gifted faculty members and campus improvements such as a new dining hall, fitness facility, student center and two new residence halls, we believe this is the perfect time to reset tuition.
FAQ about the Abbey’s tuition reset.
Belmont Abbey has become increasingly concerned about students’ access to a private college education. Eight years ago we reduced our tuition for students in the Adult Degree Program (ADP) and now, to complete this process, we are doing something similar for traditional undergraduate students and their families. For the past two years, we have been informally discussing various pricing options. We have limited our overhead costs and are now in a position to reduce our tuition price without affecting the excellence of a Belmont Abbey College education.
No. The educational experience inside and out of the classroom will remain the same. Belmont Abbey has gained a national reputation for the outstanding education it offers. We will maintain the high quality of education and services we provide while meeting the educational needs of each individual student.
No, not based on our enrollment and retention projections. The reset has been calculated into our budgeting process for next year and the lower tuition/lower discount model will generate about the same net revenue for the College.
We are convinced the impact will be very positive on all fronts. Belmont Abbey has been a national leader in many arenas of higher education. This tuition reset is in keeping with the College’s spirit to lead by example. Belmont Abbey’s value is improved by the tuition reset. The excellence of the educational experience will continue and be more apparent to students and their families.
No. We welcome all and look for students who enjoy close relationships with faculty. Our Benedictine hospitality and sense of great community remains unchanged. The tuition reset is designed to provide outstanding value to students and families from all income levels.
For many current students who have been receiving financial assistance in the form of federal, state, or institutional aid, the net out-of-pocket cost for tuition will stay roughly the same or will slightly improve. All current students who returned for the 2013-2014 academic year received a recalculated financial aid package proportional to the tuition reset. Without the tuition reset, financial aid packages would have been based on a scheduled 5% tuition increase for 2013-14.
We have committed to freeze tuition for the 2014-15 academic year as well. For the current traditional undergraduate students, any tuition increase deemed necessary will be as nominal as possible.
No, our goal is to increase accessibility, not boost enrollment. Some incremental growth may occur but we are capping traditional enrollment at just under 1,000 traditional undergraduates.We also expect this initiative will help more students persist and graduate sooner because the cost of attendance will be more manageable for them. We will continue to foster the personal relationship between student and professor, which is at the heart of a Belmont Abbey education.
No, tuition for the ADP program (for students over the age of 23) was reduced eight years ago and has continued to be reasonably priced since that time.
Abbey alumni and friends have always been instrumental in offering financial support to students. That will not change. We are strategically planning to increase contributions to our endowment that will help limit the amount of future tuition increases. Now, donor dollars for scholarships will go 33% further in covering students’ net cost to attend. The Southern Benedictine Society’s six million dollar gift for the new residence halls enables the College to direct more dollars to our students. This is good news for Abbey alumni and donors.
Absolutely. For low-need students who typically pay a higher percentage of the sticker price, the decrease is real. For high-need students their federal and state aid will stretch further as a percentage of the sticker price. The Abbey will also provide more than $5 million in financial aid to new and returning students.