Trustees Set FY 2004 Budget, Tuition, Room and Board

Trustees Set FY 2004 Budget, Tuition, Room and Board

By Jack Dunn
Director of Public Affairs

The Board of Trustees approved the University's operating budget for FY 2004 and set tuition, room and board fees for the coming year at its meeting on Feb. 7.

The budget, set at $536 million and balanced for the 32nd consecutive year, included a 5.7 percent increase in tuition, room and board charges, bringing the total cost of attending Boston College to $37,413. To offset the tuition increase, the trustees approved a 5.8 percent increase in financial aid, raising the amount awarded to students next year to $81.1 million, an increase of $4.5 million over last year.

Included in the budget was $5.6 million for new academic and technology initiatives, along with $4.6 million for the scheduled renovation of campus residence halls. It also contained an allocation of $5 million for construction-related costs for the 322-bed residence hall near St. Ignatius Gate, and $2 million for the scheduled upgrade of laboratories in the Merkert Chemistry Center.

Citing the cost of attracting and retaining excellent faculty and offering first-rate student facilities as the reasons behind the tuition increase, the trustees noted that Boston College's tuition was the fifth lowest of the 20 private colleges and universities with which BC has maintained a comparison during the past two decades. Those competitor institutions with higher tuitions included Boston University, New York University, Georgetown, Brown, Tufts and Holy Cross.

In addition, the board's committee chairmen gave reports on the status of the University's academic affairs, buildings and properties, investments, student life and fund-raising initiatives.

Buildings and Properties Chairman Joseph E. Corcoran reported that construction bids will go out in March for the residence hall between St. Ignatius Gate and Vanderslice Hall.

Reporting for the Student Life Committee, Benaree P. Wiley updated the trustees on the University's outreach to graduate students, and UGBC's ongoing efforts to work with the Office of Residential Life to ensure the safety and comfort of students living off-campus.

The next meeting of the Board of Trustees is scheduled for June 6.

 

Return to February 13 menu

Return to Chronicle home page