A List
2/9/02

ST. LAWRENCE SETS FEES FOR 2002-2003

CANTON - St. Lawrence University's comprehensive fee will 
increase by 5 percent for next year, with room and board remaining 
equal to 2001-2002 levels and tuition increasing by $1,625. The 
Board of Trustees set the fees at its winter meeting, held February 
9 on campus.
	The Board approved an increase in the annual comprehensive 
fee from $32,410 to $34,035. The components will increase as follows:

                            2001-2002               2002-2003

 Tuition                      $24,655                 $26,280
 Room                           4,170                   4,170
 Board                          3,585                   3,585

 Total                        $32,410                 $34,035

	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 interest on 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.  
	- The financial impact on New York State of the September 11 attack, 
when coupled with the economic slowdown, has caused the state not to fund 
fully programs to which it had earlier committed, such as Bundy Aid, the 
Higher Education Opportunity Program (HEOP), and the Collegiate Science 
and Technology Entry Program (CSTEP).  St. Lawrence has absorbed the costs 
of the latter two programs.
	- The University's endowment market value has declined to 
approximately $192 million from a high of nearly $230 million, due to the 
recession. For the academic year 2000-01 ending June 30, St. Lawrence's 
investment return, like that of most colleges and universities, was negative, 
at -3.8%. 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.
	St. Lawrence President Daniel F. Sullivan noted the University's 
continuing commitment to a strong financial aid program by stating, 
"St. Lawrence will do even more next year than this year to help able but 
needy students afford to attend. In addition, our commitment to diversity 
in our student body remains very strong."
	St. Lawrence's comprehensive fee increased 3.75 percent in 2001.

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