Where does your
tuition money go?
fay Nicole Rlvenbftrk
The last tuition payments for ‘90-'91
are due by March 31. As you or your
parents reach for a check lo complete
payment for semester expenses, try
thinking “Where does that money go?"
To answer that question, Mr. Charles
I'aylor, Offtce of ^siness and Finance,
offered information on how the Meredith
price lag breaks down.
First of all, Meredith tuiaon, the
price it costs to attend class, was $5,310
for the 90*91 school year. Next year, the
price jumps to $5,720, a 7.7% increase
which is attributable to normal inflation
in North Carolina. An additional $510
could be applied to tuition bills, phased
in over a three-year period, if the Baptist
State Convention withdraws an expected
$S>00,000 contribution.
In addition to tuition, on-cimpus
students pay for auxiliary services known
as room and board, which accounts for
another $3,000 per year. These services
include housing, utmiies, local telephone
usage, ablevision, health services, and
21 meals per week. In charging students
for these services, Meredith College tries
to maintain about a 10% profit to cover
extra heat usage during especially cold
winters and to maintain and repair aging
buildings.
What many students may noc realize
is the no student pays the full cost of
attending college here. Because
investments and donations, the price of
tuttJon is $710 less than it might be
otherwise.
Sources for Meredith College 1991-92
Operating Budget
miscellaneous
other auxiliary enterprise^
departmentalfees^
investment earnings
unrestricted
gifts
tuition, room
and board,
telephone,
health senAce
Total operating budget for 1991-92:
$18,845,800
This chart shows
where Meredith
College receives its
operating funds.
Stturce: O/Jice ofhtisiness and
I'inancc
Most of the fii nds a>me from profits
from tuition, room and board, telephone,
and health .service.
Unrestricted gifts to the college
account for 7.1%, investment earnings
make up 3-5% of the budget, and
depaitemntal fees account for 3.2%
Ohter auxiliary enterprises make
up 5.4% and miscellaneous income
accounts for the remaining 2.2% of
Meredith's operating budget.
Rnee
S)eedi
Get^ AHETCallingCaitl and your first call is liree.
Tnerei no better time K) ^)eak yoitf iniaJ, Because
nw when you get }wr fo» wjull
get your fiisilS-fflliHiKcalJfteet
Ouf CiQlng Caid Is pan of the i47&rstudbtf jtn«r
«45pfoeram.awtiotef '
Vkh youtAJSrCamns Cant,
you cao fiom almost anywhens
to anywtoe. And you can wep
cafd, even if you move and
getanmphonenumbet
canipus. OrctU us at 1800 529-
Andla freedom ting.
/OKT Heiping makectXtes^lifea Utde easier.
'A BOOnls (ur a muw c
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The right choice.
More than a third of Meredith
students receive financial aid
by Carol Simons
Are you aware that Meredithsoidents
have access to some $4.5 million in
financial aid? This money is helping
more than a third of the students here
complete their college education.
Financial aid usually takes three forms:
loans, jobs, grants and scholarships.
Roughly 36% of fmancial aid is in
the form of loans. Need-based loans
have an interest rate of eight percent.
*nie rate for other student loans ranges
between ten and twelve percent.
Depending on the type of loan, the
paybadc period usually doesn't begin
until a fe;w months after the student is no
longerih school, although interest on
the loan amount may be accruing as
soon as the funds are received.
Between seven and eight percent of
rmandal aid is in the form of student
worker salaries. Pay ranges for student
workers is typically between $5.80 and
$4.50 per hour, although some
employers In the Triangle pay as much
as $8.00 or more for students with
specific ulents and skilb.
During the 1991-92 school year, the
Office of Financial Aid will initiate a new
program call Job Locations and
Development. It will actively contaA
companies and encourage them to hire
Meredith suidents. Any information the
college receives about off-campus
Opportunities will be avaOable through
their ofRce.
Scholarships and grants are usually
tteed-based or are based on academic
achievement without regard lo need.
More than half of ail student aid is the
form of a scholarship or grant The
advantage of this type of |s
that it^lon't have to be paid back.
If you are having trouble paying for
your education for whatever teason,
stop by the financial aid office on third
floor Johnson Hall. Even if ^)u think
your femUy can afford school without
any financial difficulty, you might still
find that you can qualifyfor an academic
scholarship, ^i^ reduces the amount
your parents have to spend, which they
could give to you d^ctly to reward
your ihrlftyness, which you could use to
buy yourself something nicel
Pane6 Marches, 1991