BAC creates plan to assist students with rising tuition

Students concerned with the increases in regular tuition while their scholarships and financial aid stay the same will be happy to hear that the University has taken a step in the right direction in solving the problem.

Through the joint efforts of the University Student Senate, the Budget Advisory Committee, and the Enrollment Management Division, a plan was created to provide financial options and help for students who have trouble dealing with the annual rising cost of tuition.

Typically, student scholarships and financial aid amounts stay the same during a student's four years in school, but the tuition will continue to climb, forcing students to pay the extra difference out of pocket or with student loans. As a result, through a proposal of the Enrollment Management Division, endorsed both by the BAC and the USS, a special financial aid fund will be set up exclusively to assist students who experience financial hardship.

According to Louis Mayer, Chair of the BAC, the proposal "will enable the University to implement a more targeted approach to providing additional financial aid to students whose individual financial circumstances prevent them from affording the net cost of attendance."

The fund will contain $500,000. $460,000 of it will be used to award one-time emergency grants to returning students, ranging from $2,000 to $7,000. The remaining $40,000 will provide 20 individual one-time merit scholarships of $2,000 for returning students based on demonstrated financial need, GPA, and a commitment to Saint Joseph's institutional mission. All of the grants and scholarships are renewable for subsequent years and subject to a review and evaluation of financial need. Student Body President Jim Finore, who was very involved with the development of the proposal, is very with the progress. Although it is not what the USS has initially proposed, "it is a huge, huge step in the right direction," Finore says, and he knows there will be ongoing conversations in future years to continuously move forward and improve upon the program. He especially stressed the continuation of student involvement and representation in order to ensure the achievement of student goals in the area.

As it stands now, it is expected that the Offices of Admissions and Financial Aid will control the allocation of the fund, although many details still need to be worked out, such as how students will be chosen for the grants and what constitutes financial need. It is expected that the proposal will go into effect next fall semester for the Fiscal Year 2008.