News and Events
College Weathers Economic Storm
Like everyone, Washington College feels the pain of the nationwide migraine that is the current American economy. From December 2007 to December 2008, the College's endowment dropped from $168 million to $118 million. Though times are tough, the College is soldiering on—fortunate, at least, in not being as predominantly endowment-dependent for operational expenditures as are many schools.
While Washington College's operating budget is largely tuition-funded, top administrators decided to keep the 2009-10 tuition increase as low as possible. The College is dedicated to remaining within the bounds of affordability. Washington College's tuition increase for next year is the lowest in 34 years.
This year's increase raises the total student charges (tuition, room and board, and mandatory fees) from its current $41,185 to $42,810, which amounts to an additional $1,625.
Some ray of hope in the overall fiscal-health picture comes from a great influx of first-year applicants. Fall 2008 saw the largest first-year class in school history. January 2009's prospects for the Fall 2009 freshman class are considerably higher than those of the previous January.
"Our goals continue to be to preserve the quality of the student experience and to keep faith with the faculty and staff whose dedication undergirds that quality," said President Baird Tipson. "Given the magnitude of the country's economic crisis, it will continue to be challenging to meet these goals. We must tighten our belts without cutting off our ability to breathe."