On Monday, President Shirley Ann Jackson held her semi-annual Town Meeting to discuss plans for the upcoming year. In her speech, Jackson put new faculty hires, recently-approved degree programs, and building construction and renovation as her top initiatives. Also, Jackson announced the Board of Trustees’ choice for the commencement speaker as author and journalist Thomas L. Friedman.
Jackson’s speech touched on increased applications for admission to the Class of 2011, citing over 10,100 applications. She cited statistics pointing to an increase of 97 percent in applications from females, 147 percent in historically underrepresented groups, and 149 percent in international students. Statistics have not yet been released from the Admissions Department regarding admission rates. She also cited RPI’s recent designation as one of the “New Ivies,” and our ranking as the 42nd among the nation’s universities and 24th in best values among national universities in U.S. News & World Report collegiate rankings.
Jackson also presented an overview of the Institute’s budget, noting projected revenue of $365.6 million and equal expenditures. This is up from a balanced budget of $208 million when Jackson became president in 2000. The endowment is also growing, Jackson stated. Initially at approximately $500 million when she took office, the Institute’s endowment now sits at about $754 million with goals to see that amount rise above $1 billion. Regarding the tuition increase of 7.1 percent to $34,900, Jackson said, “This tuition is necessary to offer the quality of education which we strive to provide to our students.” Jackson presented statistics that 46 percent of the revenue from tuition goes back to about 90 percent of students in the form of financial aid. “This rate increase will keep Rensselaer in the middle of the pack relative to other colleges and universities with which we compete,” she said.
Understanding that the rate increases may saddle upperclassmen with greater financial burdens, the Institute has created an additional fund in the financial aid office for use by undergraduate students who encounter financial difficulty while at RPI. “The financial aid office has been asked to reach out to those with the greatest financial need to offer assistance with meeting current and future financial needs,” Jackson said.
In regards to faculty, Jackson noted that the Institute will be hiring 43 new full-time, tenure, and tenure-tracked faculty over the next year, 11 of which are new “constellation” hires. “Faculty renewal will continue,” Jackson said. She reported that the faculty-to-student ratio now rests at 14-to-1, down from 17-to-1 when Jackson began her term. This statistic includes both graduate and undergraduate students, but Jackson noted that for undergraduates, that ratio is down to 11-to-1. This will bring the total number of new faculty hired under Jackson to 180, of which 73 are entirely new positions.
Additions to current programs were also touted, including the recently approved Games and Simulation Arts & Sciences major. Other new programs include a bachelor’s degree in Design, Innovation, and Society, a Ph.D. in Electronic Arts, and a joint program with Albany Law School leading to masters degrees in Commercialization of Technology and Legal Studies. Capital improvement plans were also presented, including the construction of the East Campus Athletic Village, expansion of the Russell Sage Dining Hall, completion of the Experimental Media and Performing Arts Center, and renovation of engineering and science labs.
In closing, Jackson presented the commencement speaker for the 201st commencement as Pulitzer prize winning columnist Thomas L. Friedman, writer for the New York Times and author of The World Is Flat. “Friedman’s writings about the interconnections between globalization, education, science and technology, energy security, and geopolitical challenges make him an especially relevant and compelling commencement speaker,” Jackson said. Friedman will receive an Honorary Doctorate of Humane Letters. The Institute will also be honoring reporter Don Hewitt, creator of the television news magazine 60 Minutes, with an honorary doctorate.
