College Announces No Increase in Tuition, Room and Board; Increase in Financial Aid for 2009-10.NORTH ANDOVER North Andover (ăn`dōvər), town (1990 pop. 22,792), Essex co., NE Mass., on the Merrimack River, in a dairy and farm area; settled c.1644, set off from Andover and inc. 1855. , Mass. -- Bucking the trend of tuition increases nationally, students at Merrimack College Merrimack College is a small private, liberal arts, Catholic college in North Andover, Massachusetts, located on Route 114. It was founded in 1947 by Augustinians. Approximately 2,100 full-time and 300 evening students from more than 26 states and 17 countries are enrolled at will not face an increase in tuition, room and board for 2009-2010; officially announced today by Merrimack President Ronald O. Champagne. In recognition of the financial challenges facing college students and their families, the College's Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. recently voted to keep 2008-09 rates the same for next year. Neither returning students nor incoming freshmen will have a tuition increase for 2009-2010. In addition, Merrimack has increased the amount of financial aid it will provide next year by more than $1 million dollars to nearly $18 million in financial assistance. Over 80% of Merrimack students receive financial aid. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the National Association of Independent Colleges and Universities Founded in 1976, the National Association of Independent Colleges and Universities (NAICU) is an organization of private US colleges and universities. NAICU has over 1,000 United States independent higher education institutions. (www.naicu.edu), only one other college has announced frozen tuition for next year. How can Merrimack afford to do this? Unlike other colleges and universities, Merrimack is not endowment A transfer, generally as a gift, of money or property to an institution for a particular purpose. The bestowal of money as a permanent fund, the income of which is to be used for the benefit of a charity, college, or other institution. dependent; only 2% of the annual operating budget Noun 1. operating budget - a budget for current expenses as distinct from financial transactions or permanent improvements budget items, operating cost, operating expense, overhead - the expense of maintaining property (e.g. is covered by endowment income. After modeling the College's capacity to offer the lowest possible price increase while sustaining essential services and producing a balanced operations budget, Merrimack determined that, with cost control and program efficiency, the College could avoid an increase in next year's tuition, room and board. Quote from Ronald Champagne, President of Merrimack College "With students and families doing all they possibly can to pay for a college education, we strongly believe that Merrimack College must do its part to make an education as accessible as possible for them," said Dr. Champagne. "We are committed to educational opportunity for all and want to be sure that next year's incoming freshmen continue to have the choice to attend Merrimack if they so wish." Media Contact: To arrange an interview with Merrimack College President Dr. Ronald Champagne, contact Heather Notaro at (978) 837-5195 or heather.notaro@merrimack.edu. |
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