By Crystal Bozek
cbozek@eagletribune.com
December 21, 2008 12:17 am NORTH ANDOVER — Merrimack College is sending students home for winter break with a little peace of mind in a reeling economy. The college announced that it is freezing the cost of tuition, room and board for the 2009-2010 school year. The cost will stay at $39,500. "We wanted to give parents and students a breather in difficult times," said Merrimack President Ronald Champagne. "It was a big decision for us." The announcement comes at a time when private colleges across the country are forecasting layoffs, moratoriums on new construction projects and filling vacancies, and substantial tuition increases. It's a time when people are criticizing annual tuition increases that are way beyond the cost of living increases, making it increasingly difficult for many families to foot college bills. So, how can Merrimack do it? Champagne said the college has managed its budget very conservatively in past years, leaving it some room in a tough year. The college also saw its largest class of freshmen and transfer students this year in close to 30 years — more than 700 — which the president called a blessing. And unlike other colleges, Merrimack is not endowment-dependent, with only 2 percent of the annual budget covered by endowment income. "We're not flush with funds, but we've managed our money very carefully," he said. "We're not putting freezes on hiring or cutting back services, really. There'll be a limited number of facilities improvements ... I believe financially we'll be fine." Typically, tuition has increased by 5 percent every year at the college that sits on the North Andover/Andover line. Merrimack is just the second college in the country to announce a freeze. Tuition at Benedictine University, in Lisle, Ill., will also remain static. The college has also increased the amount of financial aid it will provide next year by more than $1 million, to nearly $18 million in assistance. More than 80 percent of Merrimack students receive financial aid. College officials say the average amount of financial aid per student is $17,500 annually. The National Association of Independent Colleges and Universities forecasts that if the current economic pattern continues, it is possible that some tuition increases will be higher than the usual 5 or 6 percent next year. College of the Holy Cross officials say tuition has not been set yet, but that there will likely be an increase, according to spokeswoman Cristal Perriello. A note on the Worcester college's Web site states, "We do expect that comprehensive tuition, room and board charges will increase for 2009-10 to ensure that the college continues to have the resources necessary to provide exceptional academic programs and resources." Saint Anselm College in Goffstown, N.H. does not expect to set tuition until early next year. Champagne said Merrimack chose to announce its tuition intentions early so students could go home for the break knowing college would not cost them any more next year. "They would go home for the holidays with a nice Christmas present, if you will," Champagne said. The college has taken similar measures in the past. In 2006 and 2007, incoming freshmen were guaranteed frozen tuition rates for all four years at the Christian school. Champagne said Merrimack's tuition is middle range, but still expensive for the typical working family. And tuition has actually decreased in past years. Students had to pay $41,100 for the 2007-2008 school year. "I believe we have not seen the end of this or the extent of this," Champagne said "We believe going forward in next couple years we have to be very sensitive to costs. Those who want to attend Merrimack should be able to." ÔÇæÔÇæÔÇæ Join the discussion. To comment on stories and see what others are saying, log on to eagletribune.com. How Merrimack compares The cost of tuition, room and board at area schools for 2008-2009 (not including fees) Saint Anselm College- $39,200 Merrimack College- $39,500 Boston College- $46,210 College of Holy Cross- $46,970
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