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October 11, 2013

Gustavus tying colleges costs to CPI

Strategy aims to keep cost increases low

ST. PETER — Gustavus Adolphus College is rolling out a plan to help students and their parents with the high cost of attending college.

The Gustavus Board of Trustees announced a strategy this week to address what has become “a national conversation about the rising costs of higher education,” according to a news release. The college is introducing a new pricing plan that will tie the cost increase for tuition, room and board to a three-year rolling average of the Consumer Price Index, which now calculates at 2.3 percent.

The strategy will begin with 2014-15 first-year and returning students.

“The plan is aimed at holding down student indebtedness and giving families the ability to better plan for college costs,” the release states.

The comprehensive fees next year will be $39,550 for tuition, $5,950 for room and $3,300 for board, which represents the smallest increase in more than 20 years.

The board will review this year’s strategy and plan to make subsequent decisions regarding the college’s comprehensive fees each year at its fall meeting so students and families will know the costs of a Gustavus education one full year in advance.

“We want to make a Gustavus education as affordable as possible for our students and their families with a reasonable degree of assurity,” said Gustavus President Jack Ohle in the statement.

More than 90 percent of Gustavus students receive merit-based scholarships, need-based financial aid, or both.

For more information, visit gac.edu.

Free Press Staff

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