Pittsford, N.Y.— During a state of the college speech earlier this week, Nazareth College President Daan Braveman announced a series of cuts and consolidations coming to the school. He says the changes will help make tuition costs lower for students.
In the next fiscal year, departments will make cuts to operating costs totaling $550,000. Certain administrative offices and services will merge and approximately 120 employees have already been offered voluntary early retirement packages. Braveman says if not enough people accept the offer there could be cuts to staff.
These measures equal to $5.8 million dollars in cost-savings for the school. Braveman explains that these changes will prevent future financial difficulties.
“The demographics are such that in the northeast there are fewer high school graduates over the next decade,” Braveman explained. “Also, the public, and rightfully so, won't tolerate six, seven and eight percent increases in tuition anymore.”
Braveman adds that through these cuts, the school is able to minimize tuition increases.
Next semester, tuition will increase by 3.9 percent for undergraduate students.
“Years ago, we had six to seven percent increases,” Braveman said. “Next semester we'll have the lowest increase we've ever had.”
Higher education is a $4 billion industry in the Rochester area and Braveman says he hopes slowing down the growth of tuition costs allows this sector of the Rochester economy to grow.
“What I'm hoping will happen here and I'm assuming that this will happen with the other schools that are doing this, is that it will attract more students,” Braveman said. “We'll be more competitive. If we lower the price without compromising the quality, we will all be more competitive.”
In January, RIT President Bill Destler announced similar cost-saving measures. Destler said RIT would try to drop tuition increases to 3.5 to four percent over the next couple of years.