I would like to congratulate the Institute on its $360 million windfall, and would like to ask a favor—that the policy of annual tuition increases of five to six percent be immediately suspended and reevaluated to ensure that tuition grows no faster than inflation and average salary.
In the GM column in the February 14 Polytechnic and in an article in the March 21 Polytechnic,news of the 5.5 percent increase was printed. Judging from where this news was buried and the reaction over the past several years from the general student body, the conclusion I draw is that it’s just another ho-hum increase in the cost of an education. However, it’s much more than that.
I first came to RPI in 1987 as a freshman. Still in my possession is the 1986 Peterson’s Guide to Colleges and Universities, and according to that book, RPI’s annual undergrad tuition was just cracking the $10,000 level at that time. It’s now projected to be over $24,000 for the next academic year. That amounts to a 140 percent increase over 15 years, or roughly 5.5 percent annually, which—surprise!—is the percentage increase for next year. Graduate tuition, however, has been stabilized at its current level of $700 per credit—a move I must applaud, being an MBA student.
You’re probably asking why I would be concerned about undergrad tuition since I am one year away from getting another graduate degree and wrapping up my college career. Simple: I remember my middle-class roots and am worried about the long-term outlook as a future head-of-household. I was the first person at the town meeting on March 28 to ask about the necessity of tuition hikes and received President Jackson’s "Lesson in College Economics." What follows is my lesson on college economics from a college attendee’s standpoint.
Now, the rising cost of a college education is a given in today’s world. The problem comes when it’s compared with inflation, which has only been 2.5-3 percent annually over the same period, and 60-70 percent since 1986. Furthermore, the average starting salary for an engineer rose from roughly $30,000 to $48,000 in the same time—again only 60 percent. At that rate, in 25 years, when many students may expect to send their future firstborn to college, tuition will have quadrupled and will surpass the average starting salary for most engineers! Imagine the loan payback period!
With regards to the practice of prestige pricing, where, as I understand it, college tuition goes up to attract wealthy families, all I can say is that if it is true, I am deeply offended at the practice. A private school education does require some sacrifice, but after years of seeing many of my friends be reduced to near-impoverishment simply to afford staying in school, and oftentimes needing to drop out, I believe we have a major problem. There are fewer rich folk than there are middle-income folk in America, and some of the greatest minds originated from families with minimal wealth, so what message is prestige pricing supposed to send?
Tuition is set by the trustees. How many of the trustees themselves are wealthy? How many of the trustees were always well-to-do or attended school half a century ago when it was less expensive even after adjustment of the dollar? How much notice does the RPI community have about when the trustees will set tuition, or is it only news after the fact? From now on, trustees should listen before acting—whether it be by putting some students and/or parents on a consultant panel, naming recent non-wealthy alums as junior trustees with voting power, or having town meetings with the RPI community prior to any major decision or meeting.
And as for the students, you all need to speak your minds, and now is the time. I asked this question at the final debates of the GM and PU candidates and all expressed concern about the steady increase, so I am optimistic about future voice and action.
I feel it is completely reasonable and workable to devote a mere three percent of the $360 million gift to a tuition-hike freeze, followed by hikes only within the bounds of general inflation.
Richard E. Vehlow
MGMT GRAD
