Spring Break
Financial aid update
NeNe Bafford
Issue date: 1/28/09 Section: News
With the nation now in a declared recession, students are becoming concerned about tuition for the 2009-2010 year.
If the financial aid did not increase, would this affect some students' decisions to continue their education at Rhodes?
Simone Simmons, a junior, thinks that the downturn in the economy could influence her decision to stay at Rhodes next school year.
"Yes and no, because it will be my senior year and the requirements to graduate could be different and I could end up staying at another school longer, therefore spending more money. Since the economy is so bad it's difficult to continue to think about education and my future when tuition keeps on increasing," Simmons said.
Two months ago, Allen Boone, Vice President for the Finance and Business, said, "There is no question that the downtown in the economy will have adverse effects on all colleges and universities and Rhodes is not immune to these effects. That said, Rhodes is relatively well positioned to weather the consequences of this tough economic environment."
Now that the two months have passed, Boone said that the College has increased the financial aid package in the current year.
"The College has not decreased financial aid in the current fiscal year due to the economic downturn. In fact, the College has increased aid to some students on a case-by-case basis due to extraordinary circumstances," said Boone.
The College is also planning on increasing the financial aid package for next year, as well.
The financial aid budget is projected to increase significantly in the next fiscal year," said Boone.
Although the economy is in a recession, the number of applications has increased for the 2009-2010 year.
"Currently, we have a 30+% increase in the number of students who have submitted Part I applications to the college," said Dave Wottle, Dean of Admissions.
Along with the increase in the number of applications, there has also been a slight increase in the number of people indicating an interest in need-based financial aid.
The Office of Admissions encourages students who have had changes in their financial circumstances to come and let them know and although they can't guarantee help, they will try to help.
President Troutt, also recognized students' changes in financial circumstances in an e-mail that was sent out to each class last November.
"We want to make getting help as easy as possible for you," said Troutt, in the email.
If you need are in need of help or advice, you can contact Carol Casey, Dean of Student Affairs at casey@rhodes.edu.
If the financial aid did not increase, would this affect some students' decisions to continue their education at Rhodes?
Simone Simmons, a junior, thinks that the downturn in the economy could influence her decision to stay at Rhodes next school year.
"Yes and no, because it will be my senior year and the requirements to graduate could be different and I could end up staying at another school longer, therefore spending more money. Since the economy is so bad it's difficult to continue to think about education and my future when tuition keeps on increasing," Simmons said.
Two months ago, Allen Boone, Vice President for the Finance and Business, said, "There is no question that the downtown in the economy will have adverse effects on all colleges and universities and Rhodes is not immune to these effects. That said, Rhodes is relatively well positioned to weather the consequences of this tough economic environment."
Now that the two months have passed, Boone said that the College has increased the financial aid package in the current year.
"The College has not decreased financial aid in the current fiscal year due to the economic downturn. In fact, the College has increased aid to some students on a case-by-case basis due to extraordinary circumstances," said Boone.
The College is also planning on increasing the financial aid package for next year, as well.
The financial aid budget is projected to increase significantly in the next fiscal year," said Boone.
Although the economy is in a recession, the number of applications has increased for the 2009-2010 year.
"Currently, we have a 30+% increase in the number of students who have submitted Part I applications to the college," said Dave Wottle, Dean of Admissions.
Along with the increase in the number of applications, there has also been a slight increase in the number of people indicating an interest in need-based financial aid.
The Office of Admissions encourages students who have had changes in their financial circumstances to come and let them know and although they can't guarantee help, they will try to help.
President Troutt, also recognized students' changes in financial circumstances in an e-mail that was sent out to each class last November.
"We want to make getting help as easy as possible for you," said Troutt, in the email.
If you need are in need of help or advice, you can contact Carol Casey, Dean of Student Affairs at casey@rhodes.edu.
Be the first to comment on this story