Letter to parents of Stephens College students
(March, 2009)
Dear Parents,
Nearly three weeks ago, I shared with our staff, faculty and students (we held two student forums and sent out information to students unable to attend), the ways in which Stephens is confronting some of the challenges created by the current economy. Every day I open a newspaper or web page and read about the effects on higher education institutions nationwide: endowment losses, rising food costs, a tighter loan market, a decline in fundraising revenue. I want to assure you that Stephens is flexible enough to adapt to these changes and is focused as always on the best living/learning experience for students. I realize there is a great deal of content in this letter, but I want to make sure you stay as up-to-date as possible; we will post additional information at http://stephens.edu/news/StephensUpdate as time goes on.
It is because of our strategic Renaissance Plan, launched five years ago, that we are able to address these challenges head-on; we are well-attuned to our finances and proactive in our approach to next year’s budget. Our vision for Stephens is solid and our direction clear; I have an outstanding, cohesive leadership team. As a college, we retained a remarkable 93% of our students from fall to this spring, testimony to their overall satisfaction with their experience here. Our progress over the past five years has been dramatic: a 72% increase in residential enrollment; a 150% increase in Graduate & Continuing Studies enrollment; stronger academic programs and talented, attentive faculty; greater alumnae and donor support; renovated campus buildings; and more partnerships with outside entities on programs for our students. Enrollment continues to grow.
Like many other institutions right now, we have implemented strategies to increase revenue, mainly through the addition of new academic programs, and to decrease expenses. These adjustments allow us to still forecast a balanced budget for 2009-10, a marked change from six years ago (in a better economy) when the College experienced deficits of more than $3 million. We have come a long way since then and celebrated our 175th anniversary last year as a much stronger, re-aligned institution poised for both short- and long-term health.
Through the winter, in various campus groups, we have gathered ideas, shared input and communicated these strategies for the coming year. Like other institutions, we have reduced some staff positions recently and after this academic year will reduce the number of adjunct faculty positions we will need this fall, while continuing to invest in new programs. We have retained all academic majors and minors, as well as full-time faculty. While we have tightened the course schedule for next year, this will not affect students’ ability to graduate on time. We are holding faculty, staff and administrative salaries at current levels for next year and suspending Stephens’ contributions to employee pensions for 2009-10.
Students begin signing up for housing and meal plans during the week of March 16. Students have always been required to have a meal plan, and since Fall 2004, all students have been required to live on campus throughout their time at Stephens with some exceptions. Students have been allowed to live off campus (and continue to do so next year) if they are married, over the age of 23, have children, or are Boone County residents living at home with their parent or guardian. Our Student Services office is available to discuss students’ individual situations. Research shows that students who live on campus have higher GPAs, persist through graduation, are more involved in campus life and generally more satisfied with their college experience. Typically we first announce tuition, room and board details in this letter, but due to the many changes for 2009-10, we held a student meeting this week where students received information and asked questions.
Tuition will increase 5% for 2009-10, less than the increase in years past and still under the national average for four-year private institutions. There will also be an increase in lab fees for certain fashion, art, science, applied music and equestrian riding classes that more accurately reflect associated expenses as well as the quality and level of service provided in these areas. A long-standing policy of charging an overload fee for more than 18 academic credit hours/semester (non-athletic) will be enforced starting this fall. We have increased the financial aid budget for next year to help meet families’ needs.
As all students think about employment prospects, Stephens offers several masters programs that save students time and/or money while making them competitive in the job market. We also offer grants to parents. If you are interested in learning more about any of these options, please contact Jennifer Deaver in Graduate & Continuing Studies at (800) 388-7579 or jdeaver@stephens.edu. In addition, a large number of Summer 2009 online undergraduate Stephens courses will be announced over the next few weeks to students.
Housing costs are increasing 4% for next year, with variations depending on the hall, occupancy and air conditioning options. Temporarily closing Prunty and Searcy halls after this academic year means we will offer more rooms on our Residence Quad as double occupancy, which is a less expensive option for families concerned about costs. While single rooms are not guaranteed, upperclass students (rising seniors are first in the lottery system) have the first option for single rooms; incoming freshmen will have roommates.
Closing Prunty and Searcy (two of our eight halls) gives us an opportunity to evaluate some aging mechanical and electrical equipment, as intrusive investigations are not easily accomplished when a hall is occupied. In addition, the recent re-opening of Columbia and Wood halls, which are slightly more expensive than our other living options, has led to excess housing on the Residence Quad. Consolidating housing reduces costs associated with needed heating, cooling, cleaning and maintenance. We will work with the residents, including pet owners and Kappa Delta members, to relocate to Hillcrest Hall this fall. Hillcrest offers suite-style living, private baths and air conditioning – features not available in Prunty and Searcy – at a lower cost than what these residents are paying now. Last week, we received notification that the University of Missouri will close its Health Connection fitness operation in Hillcrest Hall in June, due to the university’s own budgetary concerns. We have already begun exploring various scenarios so our students, faculty and staff have a fitness option for this fall.
Food costs are increasing nationwide, and the College is absorbing half of the 8% increase we are experiencing in this area. Students’ board costs will increase 4% next year. The biggest change in students’ meal plans is that students will now select a meals-per-semester plan rather than a meals-per-week plan; they may choose from five options, ranging from 75 to 250 meals per semester for added flexibility. Students are required to select a meal plan, and greater meal plan participation keeps costs as low as possible for everyone and helps ensure students have easy access to nutrition while juggling their many activities. Other changes will establish continuous dining service from 7:30 a.m. - 7:30 p.m. and a “Grab-n-Go” in the central academic area for increased accessibility and convenience for students and faculty.
Again, I recognize this is a great deal of information to absorb. As always, please don’t hesitate to contact us with any questions or concerns. Deb Duren, vice president for student services, will be more than happy to discuss housing and meal plans with you and your student.
Warmly,
Wendy B. Libby, Ph.D.
