Student Union hosted a tuition forum for undergraduate students in Umrath Lounge Nov. 15. Washington University raised tuition for the 2018-2019 academic year by 3.5 percent.

The forum featured presentations from Chancellor Mark Wrighton, Vice Chancellor for Finance Amy Kweskin and Vice Provost for Admissions and Financial Aid Ronne Turner. Afterward, Kweskin and Turner were joined by Provost Holden Thorp and Assistant Vice Chancellor for Student Affairs Rob Wild for a Q&A session.

The presentations broke down Washington University’s revenue and expenditures, gave an explanation for how the University arrives at its total cost each year and detailed how financial aid works.

“This has been a continuation of a great tradition that we’ve had to have the opportunity to discuss financing of the University,” Wrighton said during the panel. “Tuition is an important revenue stream that directly affects the students and their families, and obviously has a very important effect on the University itself.”

Wrighton said that the process for setting next year’s tuition has already begun. University officials make a recommendation, but the final cost is decided by the Board of Trustees.

Kweskin’s presentation went further into how the University sets the tuition price. For the current academic year, there was a 3.5 percent increase in tuition from the 2017-18 school year, slightly below the average increase of 3.7 percent for the University’s peer schools, according to Kweskin.

That gives the University the 16th highest total cost of attendance among 26 peer schools.

“We want to make sure that we are sort of in line with our peers,” Kweskin said. “We tend to want to be more in the middle of the pack.”

Though tuition has risen steadily in previous years, Kweskin pointed out that the cost has gone down for the average student who receives need-based financial aid.

In fiscal year 2008, the year before the University established its no-loan program, the average student receiving aid paid 55 percent of tuition, fees and room and board that year, or approximately $25,789. In fiscal year 2019, however, students with aid with demonstrated need pay 33 percent of tuition, fees and room and board on average, or approximately $23,350.

Wrighton also mentioned the University’s goal of increasing its population of Pell Grant-eligible students on the Danforth campus to 13 percent by the fall of 2020. In the class of 2022, nearly 15 percent of students are Pell Grant-eligible.

“I’m proud that we’ve been able to make as much progress as we have because I know first-hand how important it is to be able to support students,” Wrighton said. “Our focus will continue to be on striving to provide the very best experience for all of our students.”

During the Q&A, one student asked about this emphasis on those from low-income backgrounds, pointing to a decrease in the number of middle-income students at the University, which splits the undergraduate population between low-income and high-income individuals.

In response, Thorp compared the enrollment behaviors of public and private universities.

“If you want the maximum number of people to get education at the right level of accessibility, you would say the Washington Universitys of the world should focus on low-income students and Illinois and Mizzou should focus on middle-income students,” Thorp said. “Public universities don’t have the same kind of financial aid programs that we have, so low-income students pay a lot more.”

In the third presentation of the night, Turner said the University’s goal is to make it financially possible for admitted students to enroll.

According to Turner, 27 percent of 2018 graduates took out loans. This is down from the 44 percent of 2008 graduates who borrowed, while the national borrowing rate is currently around 65 percent.

She also spoke about the office of Student Financial Services’ approach to aid.

“The team works hard to get to know students,” Turner said. “We assign every student who’s on financial assistance or financial aid a financial aid counselor, and you stay with that counselor for all four years. They really just want to understand your personal circumstances and they will make adjustments as needed based on your personal circumstances so that Washington University can remain affordable.”