Tuition will rise again in the 2010-2011 academic year.

The board of trustees approved the University Budget Committee’s recommendation to increase tuition 5.9 percent, a 3.5 percent salary and equity increase and a six percent increase in room and board during their December meeting. This increase will cost students about $850 per semester, or approximately $1,700 for the year. 

A portion of this will fund the $35 million phase I of the university’s Master Plan that began on Jan. 1. This includes the renovations of campus infrastructures, additions to the West Road parking garage and Thomas Hall renovations.

“Not all of the increase will go towards funding projects. For example, some projects that are considered ‘soft’  will be funded by a gift,” said Sarah Cooper, marketing junior and president of the Student Government Association.

Edward Kvet, provost and vice president of Academic Affairs and the chairman of the University Budget Committee, said numerous factors contributed to the committee and board’s final decision. He said the committee compares Loyola’s budget and tuition to other peer institutions similar to Loyola, which include other Jesuit and private universities.

The committee also looks at the national tuition average.

Kvet said that right now, among these peer institutions, Loyola is in the bottom quartile and the “tuition increase will keep us in the proper quartile.”

 “Our university is towards the middle bottom bracket when compared to peer institutions,” Cooper said. “This allows Loyola to keep doing the aforementioned while maintaining its Jesuit values of ensuring that all income levels will be able to attend a great school.”

“There are many factors that influence the increase in tuition, it could be anywhere from the economic situation, the financial situation of the university, the inflation rate, etcetera,” Cooper said.

She stressed that the decision was based on a culmination of reasons and it was taken very seriously.

“This tuition increase means that students will be offered quality programs, improved structures and new buildings,” Cooper said.

The 3.5 percent salary increase will benefit current salary. It is primarily used to level out the inflating costs of older employee contracts with newer employee contracts. For example, an employee who was hired 10 years ago could possible be making proportionately less than a new employee.

According to Kvet, the budget for the salary increases is a general increase and how the money will be divided has not yet been determined. The majority of that budget is for general salary increases while the remaining portion is intended for a merit-based pool.

“I feel pretty confident that we have the right metrics in place to make this decision,” Kvet said. “This decision was not taken lightly.”

Abbey Brandon can be reached at [email protected]