Tuition Update for Academic Year 2014–15
I wanted to give you as much advance notice as possible regarding tuition and other fees for the 2014–2015 academic year. In order to maintain the quality of our academic programs and in keeping with our promise to limit tuition increases to changes in the cost of living, the University's Board of Trustees has approved an increase of 2.5 percent, effective fall 2014, in undergraduate tuition for current students for the 2014–2015 academic year. In addition to tuition, room rates will increase by an average of 2 percent, and full-time student activity fees will increase by 3.3 percent.
You should know that our management and Board of Trustees carefully scrutinize our financial resources and strategic investments to be sure that our tuition is priced fairly and competitively with private colleges and universities. We work to keep your tuition at a level that provides the high-quality education you expect and deserve for your investment in Loyola. For example, we have and continue to improve our facilities in many ways, including adding advanced technology classrooms, renovating our residence halls, opening a state-of-the-art student center last spring, remodeling our athletic facilities, and adding new faculty to maintain appropriate classroom sizes.
We have taken actions across the board to improve efficiency as well as quality of experience. For example, students are now permitted to take up to 21 credit hours per term at the standard tuition cost, and online courses are available in the summer and intersession to help students graduate on time. And, in keeping with our mission, Loyola continues to provide $134 million in annual financial aid to our students, approximately 93 percent of which is funded from operations.
For details about tuition, fees, and room and board costs for the 2014–2015 academic year, please visit LUC.edu/bursar. Thank you for being a valued part of the Loyola community. My best wishes to you for a successful spring semester.
Michael J. Garanzini, S.J.
President and CEO