Tuition Information for Academic Year 2017-18
January 26, 2017
Thank you for making Loyola University Chicago your academic home. I know that you have options as to where you spend your collegiate careers, and I am pleased you have chosen to take part in the Loyola Experience. Today, I would like to share information regarding tuition and fees for the 2017–2018 academic year and provide an update on our financial health.
To invest in our academic programs and strategic priorities (e.g. environmental sustainability, solutions to health disparities, and enhancements in student support to improve both retention and graduation rates), provide significant financial aid, and offer our faculty and staff a small cost-of-living salary increase, a 2.5 percent increase has been approved by the Board of Trustees for undergraduate tuition in 2017–2018. Room rates will increase by an average of 2.5 percent, and full-time student development fees will rise by 1.9 percent. These rates will go into effect for the fall 2017 semester. Additional information can be found at LUC.edu/bursar and LUC.edu/reslife.
As I stated in my inauguration address last November, we cannot—and I assure you we will not—continue to rely on raising tuition rates and fees as the principal source of funding our growing expenses. In fact, this tuition increase is significantly less than past years, and we pledge to minimize tuition growth moving forward. This strategic priority will advance our efforts to create more accessibility and affordability for students.
Throughout higher education, tension over affordability is creating an environment where all of us are being faced with making difficult choices and decisions. The expenses of running our University continue to rise at a faster rate than our revenues, scholarship needs to support student access have grown, and the uncertainty of funding from the state and federal levels continues to require us to rethink our budgeting approach. Our imperatives are to ensure that as many students as possible have access to a transformative education and that we fulfill our mission of service to others.
Please know that our principal focus is on the mission and continuing to enhance the level of excellent education and financial stewardship that everyone expects. All of us in University leadership will work together to reduce tuition increases, enhance scholarship aid, and think innovatively about our future. We are confident that this approach will allow us to meet our established goals and provide you with the educational and transformational experiences that you deserve.
Jo Ann Rooney, JD, LLM, EdD