A List
2/26/05

ST. LAWRENCE UNIVERSITY ANNOUNCES FEES FOR 2005-2006

CANTON – Rising fuel and food costs are the central reason for the first 
increase in room and board fees at St. Lawrence University since 2001. The 
University's Board of Trustees today raised St. Lawrence's comprehensive 
fee by 5.5 percent for the 2005-2006 academic year.
	The Board approved an increase in the annual comprehensive fee from 
$38,025 to $40,115. The components will increase as follows:

                       2004-2005               2005-2006

 Tuition                 $30,270                 $31,935
 Room                      4,170                     4,400
 Board                     3,585                      3,780

 Total                   $38,025                 $40,115

	President Daniel F. Sullivan explained the different reasons behind 
the decision to raise each component of the comprehensive fee.
 	"Just as every business and homeowner has been affected by rising 
costs of fuel and every family can relate to higher grocery bills, so too 
has St. Lawrence felt the pressures in these areas," said Sullivan. "We're 
trying to reduce expenses through an energy management campaign, but these 
efforts will not meet the full needs of our budget. We are raising room 
and board charges because we did not believe we should reallocate funds 
from the academic program in order to fund additional expenses related 
to campus management."
	To fund the academic program, for which the largest single expense is 
faculty salaries but also includes, for example, materials used for classes 
each year, funds for field trips, money for student research projects, books, 
computers, and science equipment,  St. Lawrence University has several 
sources of revenue: tuition; 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, which supplies 
12 percent of the annual operating budget.
	The University calculates endowment income based on the average market 
value of the endowment over the past three years, when the economy had 
experienced decline. 
	"Because the University uses endowment income primarily to support the 
costs of our academic program and because University trustees and administration 
decided to maintain the strength and scope of the academic program, trustees 
decided also to raise tuition," said Sullivan.

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