St. Mary’s College of Maryland’s Board of Trustees voted today to lower a planned increase in tuition from 4% to 2%. The hike, passed by the board in March 2012, was to be effective during the 2012-2013 academic year; however, a recent appropriation to the college by the state specified the funds be used to decrease tuition costs.
“This is wonderful news for our students and their parents and is especially meaningful for our trustees who will continue to work diligently to offer a high-quality liberal arts education that remains affordable,” said Board of Trustees Chair Molly Mahoney Matthews. “We are grateful to the governor and to the state legislature for their understanding of the unique place our college has in the state and for demonstrating that they value the distinct education our faculty and community provide for students.”
The state legislature passed budget actions on May 23, 2012 that altered the Higher Education Investment Fund to reduce in-state tuition for St. Mary’s College students. The lowered tuition rate of 2% will result in a comprehensive cost including tuition, fees, room and board for in-state, first-year students of $26,063.
“Preserving the integrity of our mission as a public honors college while maintaining a rigorous academic program that’s accessible to all students is a difficult challenge in tough economic times,” said President Joseph Urgo. “It is an honor to have the state’s enduring support and the support of our trustees who made it possible to pass along savings to our students and their families.”
The lowered increase in tuition will be effective immediately; students and their families will receive revised rate information in the mail this summer.