For immediate release
Feb. 27, 2003
As of June 1, per-hour tuition cost to attend Abilene Christian University will increase 7.1 percent, approximately the same as the previous year's increase of 7 percent, said Phil Schubert, ACU vice president for finance. In addition, financial aid amounts continue to increase in keeping with rising costs.
The price per credit hour will increase from $397 to $425 for the 2003-04 school year, and the total direct cost will be $19,335. This annual cost includes tuition, fees, room and board, and is based on a student taking 30 semester hours, eating 20 meals per week on campus, and living in a residence hall, Schubert said.
"The current increase still leaves ACU in the lowest quartile of price among private universities across the country while allowing us to maintain the highest quality in a distinctively Christian environment," said Jack Rich, executive vice president of ACU. "Incremental price increases help us sustain our commitment to an exceptional academic experience for students."
In addition to holding the tuition increase to the lowest possible level, ACU continues to provide students with a tremendous amount of financial aid, said Gary West, director of student financial services.
Last year, the university awarded approximately $50 million to students in the form of grants, scholarships, loans and work-study, which is about $2 million more than was awarded the previous year. Almost 95 percent of the entering freshman class received some form of financial aid in 2001-02, and the average amount of total financial aid per ACU student who received aid in 2001-02 was $11,219, an increase from the 2000-01 amount of $10,714.
The Association of Governing Boards of Universities and Colleges reports that the cost for higher education at times must increase at a rate higher than inflation. However, much of that increase is used to supplement financial aid.
"A college education, one of the most valuable assets individuals gain in the United States today, is seldom inexpensive," the AGB said in a brochure. "But what students and their families end up paying averages about one-third less than the posted price."
In that regard, ACU is competitive.
"An ACU education prepares students for leadership and service like no other school, and we are committed to keeping the cost of an ACU education competitive to allow as many students as possible to take advantage of what we have to offer," Rich said.
Abilene Christian University, a national leader in Christian higher education, is a private, selective university of approximately 4,700 students from 50 states and 60 nations. ACU offers exceptional academic quality, is one of "America's 100 Best College Buys," and belongs to the prestigious Council for Christian Colleges and Universities. ACU's mission is to educate students for Christian service and leadership throughout the world. Accounting students pass the CPA exam at three times the national average, pre-medical/dental school acceptance is twice the national average, and ACU's physics program has received almost $2 million for research from the Department of Energy.
If you are a member of the media who would like more information about this release, please contact Wendy Kilmer, university news coordinator.