Paying for Growth

By The Editors / May / June 2002
June 30th, 2007

WHAT SIMMONS WILL DO:

FACULTY

- add 100 full-time faculty members over the next five years

- raise faculty salaries and benefits

- increase budget for faculty recruitment and start-up funds

- adopt a more generous faculty-leave program

 

FINANCIAL AID

- adopt need-blind admissions beginning this fall

- replace first-year work-study requirement with one-year scholarship beginning this fall

 

GRADUATE SCHOOL

- raise graduate-student stipends

- provide full health-care coverage for all graduate students

- supply summer funding to humanities and social-sciences graduate students

 

ACADEMIC SERVICES

- increase library budgets

- increase funding for computing and information services

WHERE SIMMONS WILL FIND $80 MILLION OVER THE NEXT THREE YEARS:

TUITION & FEES

- raise total student charges 4.6 percent this fall ($3 million)

 

ENROLLMENT

- budget for average annual enrollment of 5,645 undergraduates and 700 graduate students ($18 million)

 

ENDOWMENT

- increase the draw from 4.6 percent to 5.25 percent ($23 million)

 

FUND-RAISING

- raise annual giving by 15 percent ($4 million)

- increase unrestricted giving ($9 million)

- donations to support need-blind admissions ($4 million)

 

NONACADEMIC BUDGET SAVINGS

- reduce the use of outside vendors when possible ($5 million)

- capture savings from staff vacancies ($14 million)

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Related Issue
May / June 2002