Tuition increase are the two words that most college students hate to hear. But it is unavoidable for most universities, and Loyola is no exception as seen in the increases over the last century.
Both the undergraduate program and the College of Law have seen their fair share of increases.
According to “Founded on Faith: A History of Loyola University New Orleans” by Bernard Cook, history professor, tuition for the College of Law in 1914 was $90 for a year. Today, according to the College of Law website, it is approximately $38,000. That is about 450 times more in a matter of 98 years.
The College of Law students are not the only ones who have seen exponential increases.
In 1978, tuition according to Student Finance records was $1,100 for the year and today is it approximately $39,000, which is about 35 times more.
The increases are not just in the Loyola community. According to the Department of Education, tuition in 1978 at a private four-year institution was approximately $3,400. In 2010, the national average for private four-year institutions was approximately $26,000. That is seven times more than that of 32 years ago.
While tuition has seen its fair share of increase, so has room and board. According to Student Finance records from 1978, room and board for the year was about $840. Now, room and board for the year is a little over $11,000, which is 13 times more than the rates of 1978.
According to the University President Rev. Kevin Wildes, S.J., the university evaluates tuition costs every year by looking at the cost of the budget, which is mostly dispersed among salary costs.
Tuition increases are unavoidable as they fund the operating cost of the university, which according to Wildes, are mainly the salaries for faculty and staff.
Hannah Iannazzo can be reached at [email protected]