February 26, 2018

On Saturday, the Colorado College Board of Trustees approved the college's budget for the 2018-19 academic year. This budget is the result of many months of analysis and prioritizing done by our campus Budget Committee, comprised of faculty, staff, and students. Their recommendation comes to me, and then with the trustee's Budget and Finance Committee, we present the budget to the full board for their approval. Based on that process, tuition and fees were set at $55,470. For those living on campus, the comprehensive fee will be $67,982, with a standard double room rate of $7,530 and the meal plan C rate of $4,982.

Underscoring Colorado College's commitment to access, we continue to increase the financial aid budget, which has been, and remains, one of our top strategic priorities. This includes maintaining financial aid for all returning students even as we continue to build it for incoming students. Students who are currently receiving financial aid will be notified about next year's aid package by June 1.

Beyond increasing financial aid, the tuition increase will be used to fund strategic investments in the quality of a Colorado College education, such as creating new opportunities for field study, summer research, and internships. We also will use the increase for debt service payments for the recent improvements we have made to our campus facilities (such as Tutt Library and the East Campus residential development); and infrastructure (such as our improved network); and a three percent increase in faculty and staff compensation.

Recognizing that a Colorado College education is a significant investment for students and their families, I am grateful for the generations of donors who have invested in CC as well. Every year, endowment earnings and annual-fund giving provide approximately 25 percent of our operating budget, enabling Colorado College to offer an exceptional education at a comprehensive fee that is significantly below what we spend on each student. Outside of the operating budget, major gifts also fund campus renovation and construction projects.

As an economist specializing in higher education, I can assure you that a college education is among the best investments one can make. Our commitment at Colorado College is to offer the highest quality residential liberal arts education. With our strategic plan as our guide, we are continuing to create new programs and opportunities that will benefit our students throughout their lives.

Should you have any questions, please do not hesitate to contact me at president@coloradocollege.edu.

Sincerely,

Jill Tiefenthaler