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Lynn keeps tuition rate in check during an era of substantial tuition increases
Published Jul. 20, 2011
Lynn University’s tuition rate increase during the 2010-2011 academic year for undergraduate day students was only 2.8 percent, less than the national average of 4.6 percent for private institutions and far below the recent increases rolled out at public universities in Florida.
“Through our determination, perseverance and a little bit of creativity, we’ve been able to keep costs in check,” Laurie Levine, vice president for business and finance, said. “In fact, total expenses for fiscal year 2010 decreased from the prior year by approximately 5 percent. This is a wonderful and necessary accomplishment, one that allows us to keep our tuition increases lower than the national average.”
Tuition rate increases have also remained low for evening undergraduate and graduate students, at 3.4 and 4.3 percent respectively. There was also no increase in room and board or student service activity and technology fees.
In one example of the lengths the school went through to keep costs down, several vendors were called in to renegotiate their service contracts. This helped keep operational costs in check.
Lynn’s tamping down on tuition increases is in stark contrast to what is happening in Florida’s public higher education. Florida’s 11 universities are raising tuition by 7 percent, adding to an 8 percent increase voted in by state lawmakers. For the third straight year, most undergraduates will have to pay 15 percent higher tuition in the fall.
“We’re not saying that private school tuition is in everyone’s reach,” Levine said. “But considering the pressures of continually increasing costs for basic services, healthcare coverage and other operational expenses, we feel we do a good job of keeping our tuition affordable for those who are considering a private option.”
The school has also introduced Lynn 3.0 to help reduce costs for students who qualify. This program is structured to allow them to finish their degree in three years, saving them year of school and tuition, for an estimated savings of $45,000.
More about Levine
Laurie Levine has been at Lynn University since 2000. As the vice president for business and finance, she is responsible for the overall financial strategy and accounting practices of the university. She oversees purchasing, student administrative services, investments and other areas that directly affect the schools financial standing and ability to keep tuition increases low.
She can comment on a variety of issues related to the Florida Resident Access Grant (FRAG), the current state of financial aid for students going to private universities, costs and benefits of a college education and the overall financial health of the higher education industry.