College tuition costs still on the rise
In his first speech to George Washington University's Board of Trustees on Oct. 19, GWU's President and former Hopkins Provost Steven Knapp called for an increase in affordability at the University, citing its negative impact on the institution's image.
"I am personally not happy with seeing this institution at the top of the list of prices," Knapp said during the board meeting.
Currently, GWU is the most expensive institution in the country. According to Knapp, the price has led to the perception that the University costs more than it is worth.
Hopkins officials do not believe the University's tuition is detrimental to its reputation.
"I don't think it has a negative impact," said Jerome Schnydman, secretary of the Board of Trustees and executive assistant to the president.
"If the best schools, like the Ivy Leagues, charge the most, while the not-so-good schools charge less, then some people begin to associate high quality with high price. People are willing to spend more to go to better schools. I don't think people are pushed away in the end by finances. Hopefully our financial aid will be there for those people."
According to Schnydman, Hopkins' tuition is at the same level as other competitive institutions such as the Ivy League schools. Thousands of students continue to apply to Hopkins every year, evidence that the tuition has not dissuaded anyone from applying.
"When I came here, there was talk about increasing tuition to $10,000 a year," Schnydman said. "A lot of people worried that if we did so, less people would come. However, when we increased the tuition, the applications continued to come. We have since then increased tuition to $20,000, $25,000 and so on. So far, we haven't priced ourselves out. We may in the future, but, at the moment, I don't think we have."
College tuition continues to rise across the country. According to the College Board's 2007 report "Trends in College Pricing," tuition and costs at private institutions increased by 6.2 percent from 2006-2007. In 2006, tuition at Hopkins rose 7.2 percent from $31,620 to $33,900. In 2007, the tuition rose 5.9 percent to $35,900. The College Board reported that only six percent of four-year universities charge over $33,000.
"I am personally not happy with seeing this institution at the top of the list of prices," Knapp said during the board meeting.
Currently, GWU is the most expensive institution in the country. According to Knapp, the price has led to the perception that the University costs more than it is worth.
Hopkins officials do not believe the University's tuition is detrimental to its reputation.
"I don't think it has a negative impact," said Jerome Schnydman, secretary of the Board of Trustees and executive assistant to the president.
"If the best schools, like the Ivy Leagues, charge the most, while the not-so-good schools charge less, then some people begin to associate high quality with high price. People are willing to spend more to go to better schools. I don't think people are pushed away in the end by finances. Hopefully our financial aid will be there for those people."
According to Schnydman, Hopkins' tuition is at the same level as other competitive institutions such as the Ivy League schools. Thousands of students continue to apply to Hopkins every year, evidence that the tuition has not dissuaded anyone from applying.
"When I came here, there was talk about increasing tuition to $10,000 a year," Schnydman said. "A lot of people worried that if we did so, less people would come. However, when we increased the tuition, the applications continued to come. We have since then increased tuition to $20,000, $25,000 and so on. So far, we haven't priced ourselves out. We may in the future, but, at the moment, I don't think we have."
College tuition continues to rise across the country. According to the College Board's 2007 report "Trends in College Pricing," tuition and costs at private institutions increased by 6.2 percent from 2006-2007. In 2006, tuition at Hopkins rose 7.2 percent from $31,620 to $33,900. In 2007, the tuition rose 5.9 percent to $35,900. The College Board reported that only six percent of four-year universities charge over $33,000.
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