Swarthmore College Bulletin (June 1998) - ITS

Why can’t a college beAs Swarthmore’s comprehensive fee breaksBy Jeffrey LottMabel Clement Lee ’34 still hasone of her Swarthmore Collegeinvoices, dated “NinthMonth, 8, 1933.” In an era ofcomputer-generated bills, its typewrittencharacters have the look of amedieval manuscript. Yet puttingaside the quaint Quaker nomenclaturefor September, the real curiosity is thefull price of Lee’s senior year at college.Including room, board, and aspending account deposit, it came to$950.In August Swarthmore will mailinvoices for the 1998–99 academicyear. The bottom line for those payingfull price: $30,740. But then, not everyonepays full price, and every studentat Swarthmore—including those whopay $30,740—receives a significantsubsidy from the College’s endowment.“Price” is the key word here, saysPaul Aslanian, vice president forfinance and planning, and it is quitedifferent from “cost.” Next year theCollege’s actual expenditure per student—thecost of a Swarthmore education—willbe approximately $51,000.Thus the College will subsidize theeducation of every enrolled student,whether or not that student receivesfinancial aid, with about $20,000 infunds from sources other than tuitionand fees. Significantly, this figure doesnot include the funds set aside fromthe budget for outright grants to aidedstudents. It is pure “value added” forevery Swarthmore student, and itcomes largely from endowmentincome and to a lesser extent fromother annual gifts.Still, the price of quality higher educationis perceived as being steep,and Aslanian is often asked why theCollege can’t be run more like a busi-20 SWARTHMORE COLLEGE BULLETIN