Scholarships

Tuition hikes increase scholarship needs

Campaign Minnesota raised $1.65 billion, which is the second highest amount ever raised by a public research university. But it didn�t solve all of the University�s financial problems.

James Ross, who received the Stanley Dagley Undergraduate Scholarship, is now a first-year student at Harvard Medical School.

The University of Minnesota has been forced to make double digit increases in tuition for the past four years. Tuition is now $6,562 a year. Add room, board, and books and the real cost is more than double. An undergraduate would have to work 55 hours a week at minimum wage to pay their way through college. And tuition is expected to continue increasing.

At the same time, CBS is getting more applicants with higher qualifications than ever before. One third of the freshman class graduated in the top five percent of their high school class. Many students interested in CBS get offers from other schools that have more scholarship resources.

�To continue attracting top students, we need to give our students more financial support,� says Dean Robert Elde. �That means we need to renew our commitment to increase our scholarship endowment. Because we are a young college, that endowment is relatively low � only $2 million. To remain competitive with other schools, we need to raise that to at least $10 million.�

Campaign Minnesota may be over, but CBS� campaign to provide the best education we can�and to make it affordable to the best and brightest students�continues.

Tuition Facts

Tuition Increases:

Tuition: Resident undergraduates pay approximately $6,562 a year. Non-Residents pay approximately $18,193 a year.

Corporate Support: Companies often ask about participation rates from alumni and friends. They use these numbers to determine their level of support to the University. Even modest support from alumni and friends can lead to millions of dollars in corporate support.

State Support: Support from the State of Minnesota is rapidly on the decline. Currently the U receives approximately 30 percent of its budget from the state.

Working Students: According to the Minnesota Student Survey (Spring 2001), approximately 76 percent of Twin Cities respondents work while attending college.

Paying for Tuition: An undergraduate student would have to work 55 hours per week at minimum wage to pay the cost of attending college.