Reading, PA – In line with traditional higher education practices, Albright College has historically raised tuition annually (by an average of 4% each of the last 10 years), significantly outpacing the growth of median family income. It’s a practice that does not align with the college’s commitment to educating students of academic promise for success in lives and careers. With this commitment driving the college’s actions, Albright will break from its traditional model beginning with the 2019-20 academic year, and will right-size its tuition by reducing it 45 percent, from $44,206 to $24,500.
In addition, the college’s Advancement division will be focusing on new scholarships for rising sophomore, junior and senior students. Currently, Albright offers significant financial aid to first-year students, but less need-based institutional aid to cover year-to-year tuition increases for sophomore, junior and senior students.
“As tuition rises, need-based federal grant aid usually does not change for these students, often creating unanticipated bills,” wrote Albright College President Jacquelyn S. Fetrow, Ph.D., in a letter to Albright students and families. “New research shows that this is most troubling for middle income families.”
“In reality, very few students pay the full price of Albright’s tuition,” wrote Fetrow. “Right-sizing tuition helps us to be more transparent about today’s higher education costs, and aims to reduce the tuition gap for upper class students, but it is not perfect.”
Albright students who currently pay more than $38,122 (based on tuition, standard double room and gold meal plan) will benefit from a decrease in what they pay. Room, board and the student services fee will increase by $452 for all students for academic year 2019-2020; thus, a number of current students will still see an increase in overall cost.
“This increase will be much smaller than it would have been had the college continued its trend of raising tuition,” explained Fetrow. “In an era in which family incomes have stagnated and higher education costs have outpaced incomes, Albright is taking important steps to close the gap and make education affordable.
Answers to frequently asked questions about the right-size tuition plan are available on the Albright.edu website.
