How does the College set the comprehensive fee?
The Board of Trustees carefully considers all revenue sources when setting fees for tuition, and room and board, based on the costs of operating the College and its mission to provide educational opportunities for students from all backgrounds. The Board considers fee levels of peer institutions as well as the impact of a fee increase on students with differing financial needs. The College always works to maximize all of its revenue sources, including philanthropic gifts and investment returns. The College requires revenue growth to keep up with increases in operating expenses and to invest in new initiatives.
Will aid packages address the increase in tuition?
Will aid packages for students who receive need-based financial aid increase to address the increase in tuition? Typically yes. Domestic students must reapply for need-based financial aid each year. If the annual review results in no change to the calculated family contribution, the financial aid package increases with the increase in cost. The increased eligibility will be met with a combination of grant and federal loan. Institutional and federal financial aid guidelines are used to determine financial aid program eligibility. Aid packages for returning students are released in May. Students with questions about their family contribution or their financial aid package should contact the Office of Student Financial Services.
Will the increase affect international students?
How will the cost increase affect international students (foreign nationals) who receive need-based financial aid? For international students receiving need-based financial aid, the award will be adjusted to cover the increase in the comprehensive fee. The increased eligibility will be met with a combination of grant and loan funds.
What costs will the increase cover?
The additional net revenue received from the comprehensive fee increase will be used to cover investments in world-class faculty, improving the student experience through enhanced support services, and in new and enhanced programs laid out in The Plan for Mount Holyoke 2021.
Is the College exploring ways to reduce costs?
In each budget cycle, the College considers measures to moderate expenses by managing the growth of staff positions, streamlining operations, and implementing technology solutions to improve workflow. It will continue to assess and evaluate how it can do even more to increase revenue and reduce expenses in the coming year.
What schools were included when comparing tuition?
The College typically compares its tuition and fees with approximately 40 institutions. Here is a sample of the fees at some of those schools:
Institutions with Comprehensive Fee in fiscal year 2019:
- Above $71,000: Amherst, Barnard, Trinity
- From $68,000–$70,999: Bates, Bryn Mawr, Smith, Wellesley
- From $66,000–$67,999: Holy Cross, Wheaton
- From $64,000–$65,999: Worcester Polytechnic Institute
Mount Holyoke Comprehensive Fee fiscal year 2020: $67,360 + $218 student fee