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WithYourVlC Card Prices Effective Through March 7, 2000 [" r|V\ jjj ji” jjjj“| Prices In This Ad Effective Wednesday. March l Throucrh 1 • March 7. 2000 In Our Chapel Hill & cLboro stores onfy. ! MANUFACTURER S COUPONS j We Reserve The Right To Limit Quantities. None Sold To J j Dealers. We Gladly Accept Federal Food Stamps. I fOlt'Hfifili-JZfSiH U2T I State k National Va. Legislators Block Push To Freeze College Tuition By Alex Kaplun and Worth Civils Staff Writers The Virginia Senate recently shot down Gov. Jim Gilmore’s second effort in February to freeze college tuition after he leaves office. lnjanuary. the governor sent a bill to the state legislature that would freeze tuition at Virginia state universities from 2002 until 2004. But while the House overwhelmingly approved the bill, the Senate Finance Committee rejected it. The House bill then went to the Senate Education and Health Committee, where it again failed. The move came on the heels of a UNC Board of Governors proposal to increase tuition at five UNC-system schools to maintain competitive faculty salaries. The Virginia system is one of UNC’s main competitors. Students at the University of Virginia had mixed reactions to the bill’s failure. While they approved of low tuition, some were concerned the freeze might Duke Gets Usual Boost in Bills By Alicia Gaddy Staff Writer Duke University’s Board of Trustees recently approved a 3.5 percent tuition increase coupled with a 4.3 percent raise in financial aid. Unlike the proposed S6OO tuition increase at UNC-Chapel Hill, Duke’s new increase is not unusual. A1 Rossiter Jr., director of Duke News Services, said this increase, along with last year’s, would be one of the smallest in the last 30 years but that tuition rose steadily every year. The increase would raise total fees 3.7 percent for first-, second- and third-year students. Rossiter said Duke, with a $1.68 bil lion endowment, which was relatively small when compared to other private schools, had to increase tuition to remain competitive by maintaining top notch faculty and facilities. “Unlike some schools that have large endowments like Harvard and Stanford, much of our tuition goes to pay for 1 The investment results shown for the CREf variable annuity reflect past performance and ate not indicative of future rates nf ret. „n The- . ... dpalvou have Invested will fluctuate, so the shares you own me, bemoreo, less than their Sfnil priSSSffs'.'S SbhSToISSSSi lower the quality of their education. But legislators’ reservations about the bill were somewhat different - primari ly that the bill would remain in effect for two years after Gilmore’s term ended. Democratic Sen. Benjamin Lambert said he did not think it was appropriate for the current administration to saddle the next legislature with regulations. But the idea of freezing tuition is not unheard of to Virginia lawmakers, who froze tuition in 1996 until 2002. David Adams, assistant education secretary, said the proposed bill was aimed at letting parents know early that tuition would not increase. “(The governor) thought it was important that parents know that when they are sending their kids to college, they will pay the same tuition today as in 4 years when they graduate,” Adams said. Nan Peterson, elections chairman for the UVa. student council, said she sup ported the bill. “I really like the idea of a tuition freeze, and I think it’s impor tant to keep cost down,” Peterson said. undergraduate teaching,” he said. Rossiter added that Duke’s tuition was similar when compared to other pri vate research institutions. “Last year, our tuition and mandatory fees were within several hundred dollars of MIT, Yale, Johns Hopkins and Stanford,” he said. But he said Duke was striving to keep tuition fairly stagnant and thereby make the school more accessible to the public. Rossiter said that to achieve this accessi bility, Duke was trying to put less finan cial focus on non-academic activities. But with ever-increasing tuition, he said the school’s financial aid program was becoming more important. He said financial aid next year would total more than s3l million, and he esti mated that 1,930 incoming students would receive grant packages averaging $ 17,300. “That’s 11 percent more than this year,” Rossiter said. Rossiter added that Duke would con tinue its “need-blind” enrollment policy, admitting students regardless of their financial backgrounds. He said Duke would also continue to meet the total RETIREMENT INSURANEE MUTUAL FUNDS TRUST SERVICES TUITION FINANCING While TIAA-CREF invests for the long term, it's nice to see performance like this today. .*** 5*W TIAA-CREF delivers impressive results like these by PVVnPfIPPWWWVnpVMBtHH combining two disciplined investment strategies. In our equity accounts, for example, we combine 36.05122.02118751 active management with enhanced indexinq. With 1 TEAR 5 YEARS SINCE INCEPTION two strategies, we have two ways to seek out asof 12/31/99 asof 12/31/99 5/1/92 performance opportunities—helping to make your with over $ 250 billlon in assets, we're the world's investments work twice as hard. largest retirement company and the leading choice EXPENSE RATIO Combine this with our low on America's campuses. If that sounds good to CREF GLOBAL INDUSTRY expenses and you'll see you, consider this number 1 800-842-2776. Call and EQUITIES AVERAGE _ , how TIAA-CREF stands apart find out how TIAA-CREF can work for you today 0.37 1.92 from the competition. and tomorrow. tm Ensuring the future for those who shape it. (Lift Sally alar Hrrl But she and student council President Taz Turner also expressed concern that a tuition freeze could decrease resources available to fund needs such as faculty salaries and capital improvements. “While freezing may be approved by a lot of students, it’s not good for facul ty salaries, and we need more faculty,” Peterson said. Turner said he was also concerned about the university’s structural needs. “With the expansion of accommo dating more students, (the school) needs to increase tuition,” he said. “We’re facing structural and academ ic needs.” Lambert, who serves on the Senate Education and Health Committee, said the bill would have made it more diffi cult for lawmakers to raise tuition when the need arose. “If you had the freeze in the code, you would have to pass laws to (raise tuition),” Lambert said. The State & National Editor can be reached at stntdesk@unc.edu. financial need of all incoming students. “We guarantee that for any students that are admitted, we will put together a financial aid package,” Rossiter said. Jim Belvin, Duke’s director of finan cial aid, said next year’s additional aid would all be given outright. “The entire amount of additional financial aid is in the form of grants,” he said. Weighing the tuition increase against the financial aid increase, Belvin said financial aid students would gain from this decision, making it more practical for them to attend Duke. “I think it’s going to make it easier,” he said. Duke senior Justin Fairfax, youth trustee for the Duke Board of Trustees, also said new financial aid at Duke would increase students’ opportunities and give them more incentive to attend Duke. “Hopefully, if (low-income stu dents) know there’s a dedication to financial aid, they will be influenced to come here.” The State & National Editor can be reached at stntdesk@unc.edu. 1 800 842-2776 www.tiaa-cref.org
Daily Tar Heel (Chapel Hill, N.C.)
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March 1, 2000, edition 1
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