A List
2/22/03

ST. LAWRENCE SETS FEES FOR 2003-2004

CANTON - St. Lawrence University's comprehensive fee will 
increase by 5 percent for next year, with room and board 
remaining equal to 2002-2003 levels and tuition increasing 
by $1,705. The Board of Trustees set the fees at its winter 
meeting, held February 22 on campus.
	The Board approved an increase in the annual 
comprehensive fee from $34,035 to $35,740. The components 
will increase as follows:

                       2002-2003               2003-2004

 Tuition               $26,280                 $27,985
 Room                    4,170                   4,170
 Board                   3,585                   3,585

 Total                 $34,035                 $35,740

 	St. Lawrence University has several sources of 
revenue for annual operating expenses: tuition; room and 
board charges; funds from New York State; project grants from 
federal and state agencies as well as corporations and 
foundations; annual gifts from alumni, parents and friends; 
revenues from "auxiliary enterprises" such as the Brewer 
Bookstore; and, very importantly, income from the University's 
endowment, a long-term investment fund. Two of these 
sources - state assistance and endowment income - will not 
provide additional income next year, and may even provide 
less than this year.  
	- Based on Governor George Pataki's proposed New York 
State budget, St. Lawrence's allocation for the Tuition 
Assistance Program (TAP), Higher Education Opportunity Program 
(HEOP) and Collegiate Science and Technology Entry Program 
(C-STEP) is likely to be reduced by over $600,000 for the 
2003-2004 year.
	- The University's endowment market value has seriously 
declined, as is the case with most colleges and universities. 
For the fiscal year 2001-02 ending June 30, St. Lawrence's 
endowment lost $26.1 million, finishing at $173,998,626. In 
the time since, it has seen further declines.
	The University uses endowment income primarily to support 
the costs of its core educational mission. The decision to raise 
tuition, which funds the educational program directly, while
 holding room and board charges constant, will help offset 
the lack of growth in endowment income.
	While acknowledging the necessity of increasing the 
University's comprehensive fee, St. Lawrence President Daniel 
F. Sullivan also noted continuing commitment to a strong 
financial aid program for students.
	"We will do even more next year than we are doing 
now to assist able but needy students in attending St. Lawrence 
University," Sullivan said. "We are also strongly committed 
to increasing the diversity of our student body."
	St. Lawrence's comprehensive fee increased 5 percent 
in 2002.

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