(no subject)
So I get yearly Email from RIT, which usually states tuition is going up once you cut through the fluff... On average it seems to be around a 3.5% increases. (Decent increase at ~$35K).
This year's Email states the financial crisis sucks, etc... There will be job losses in student families (actually my father just got laid off days ago :() and overall money is going to be tight for students, so what could RIT possibly do the make it easier on the students...?
(Trimmed the message down, but tried not to change the meaning, shown below the trimmed version is the full version.)
" As the bad news about the global economic crisis keeps rolling in, I thought it might be helpful to the campus community if I detailed a few of the steps that RIT is taking to adapt to current and evolving conditions. ..."
" First of all, I want to reassure everyone in the RIT family that the state of the institution is strong and the institution is very conservatively managed fiscally. ..."
" Nevertheless, we have not been untouched by the current economic crisis. ... As the current recession plays out, more of our current students and their families will face financial challenges as a result of nationwide layoffs and furloughs. It is also possible that the current economic crisis could affect enrollments in future years, and resulting tuition revenue could be reduced as a result. For all of these reasons, it is prudent for RIT to take steps to ensure that we can deal with all of these potential challenges."
...
" 1. RIT will ask its Trustees to approve a modest inflationary tuition increase in the range of 3.5-4.5% for the 2009-2010 academic year. ..."
...
" Other actions may prove necessary as we navigate through these extraordinary financial challenges, ..."
Is it me or is that a little contradictory?
Full message:
To: RIT Students, Faculty, and Staff
From: Bill Destler, President
Date: January 28, 2009
As the bad news about the global economic crisis keeps rolling in, I thought it might be helpful to the campus community if I detailed a few of the steps that RIT is taking to adapt to current and evolving conditions. These steps have been discussed with the Trustees, our Vice Presidents and Deans, and the Faculty Senate, Staff Council, and Student Government. Their input has been very helpful to me as we determine how best to navigate these troubled waters.
First of all, I want to reassure everyone in the RIT family that the state of the institution is strong and the institution is very conservatively managed fiscally. Enrollment is at an all-time high and applications to RIT from prospective students are ahead of last year at this time. There is no immediate budgetary crisis to deal with, and we do not at this time anticipate any reductions in staffing other than those that might ordinarily occur through retirements or individuals leaving RIT for positions elsewhere.
Nevertheless, we have not been untouched by the current economic crisis. The value of our endowment has dropped by more than 20%, and New York State is considering reductions in a number of programs that support RIT students and programs. Our fundraising efforts will continue unabated, but it is very likely that our ability to secure significant gifts to RIT from alumni and friends may be compromised by the current negative fiscal climate. As the current recession plays out, more of our current students and their families will face financial challenges as a result of nationwide layoffs and furloughs. It is also possible that the current economic crisis could affect enrollments in future years, and resulting tuition revenue could be reduced as a result. For all of these reasons, it is prudent for RIT to take steps to ensure that we can deal with all of these potential challenges.
Our actions have been guided by two fundamental principles. First, we will work to preserve the quality of our education and research programs across the University. Second, we will work to protect the RIT family, including students, faculty, and staff. Every decision we make and every action that we take to address the current economic crisis must take into account these two principles. To date, we have agreed upon the following steps:
1. RIT will ask its Trustees to approve a modest inflationary tuition increase in the range of 3.5-4.5% for the 2009-2010 academic year. Any increased revenue resulting from this increase will be used to augment need-based financial aid for our students, to cover a modest enrollment reduction should it occur, and to cover inflationary cost increases in such areas as energy and health insurance for our employees.
2. We will not include any salary increases for faculty, staff, or administrators in our budget planning for next year. Should the RIT fiscal situation turn out to be stronger than we predict, we can always revisit this issue next Fall.
3. I have asked the Vice Presidents to personally approve any faculty and staff hires until further notice to ensure that we keep personnel costs down to the minimum necessary to preserve the quality of our education and research programs.
4. Each Vice President has been asked for a plan to reduce spending in their division for the rest of this year and into next year.
5. The University will continue its current posture of moving forward with only the most strategic capital projects and will delay all others. Projects intended to address code or safety issues will continue as necessary.
6. Sr. Vice President Watters has been instructed to include a significant contingency fund in next year’s budget to protect the institution from unforeseen fiscal circumstances beyond our control.
7. Because enrollment is so important to our fiscal health, I have asked Sr. Vice President Miller to work with the Deans to plan an aggressive “yield” effort this year to encourage students admitted to RIT to enroll next Fall.
Other actions may prove necessary as we navigate through these extraordinary financial challenges, in which case I will continue to inform the entire RIT family of any steps taken. Working together, I am confident that we can not only survive this difficult period, but continue to move this “category of one” university forward toward our shared goals. I am very grateful for your support and for your hard work for RIT.
cc: RIT Trustees
This year's Email states the financial crisis sucks, etc... There will be job losses in student families (actually my father just got laid off days ago :() and overall money is going to be tight for students, so what could RIT possibly do the make it easier on the students...?
(Trimmed the message down, but tried not to change the meaning, shown below the trimmed version is the full version.)
" As the bad news about the global economic crisis keeps rolling in, I thought it might be helpful to the campus community if I detailed a few of the steps that RIT is taking to adapt to current and evolving conditions. ..."
" First of all, I want to reassure everyone in the RIT family that the state of the institution is strong and the institution is very conservatively managed fiscally. ..."
" Nevertheless, we have not been untouched by the current economic crisis. ... As the current recession plays out, more of our current students and their families will face financial challenges as a result of nationwide layoffs and furloughs. It is also possible that the current economic crisis could affect enrollments in future years, and resulting tuition revenue could be reduced as a result. For all of these reasons, it is prudent for RIT to take steps to ensure that we can deal with all of these potential challenges."
...
" 1. RIT will ask its Trustees to approve a modest inflationary tuition increase in the range of 3.5-4.5% for the 2009-2010 academic year. ..."
...
" Other actions may prove necessary as we navigate through these extraordinary financial challenges, ..."
Is it me or is that a little contradictory?
Full message:
To: RIT Students, Faculty, and Staff
From: Bill Destler, President
Date: January 28, 2009
As the bad news about the global economic crisis keeps rolling in, I thought it might be helpful to the campus community if I detailed a few of the steps that RIT is taking to adapt to current and evolving conditions. These steps have been discussed with the Trustees, our Vice Presidents and Deans, and the Faculty Senate, Staff Council, and Student Government. Their input has been very helpful to me as we determine how best to navigate these troubled waters.
First of all, I want to reassure everyone in the RIT family that the state of the institution is strong and the institution is very conservatively managed fiscally. Enrollment is at an all-time high and applications to RIT from prospective students are ahead of last year at this time. There is no immediate budgetary crisis to deal with, and we do not at this time anticipate any reductions in staffing other than those that might ordinarily occur through retirements or individuals leaving RIT for positions elsewhere.
Nevertheless, we have not been untouched by the current economic crisis. The value of our endowment has dropped by more than 20%, and New York State is considering reductions in a number of programs that support RIT students and programs. Our fundraising efforts will continue unabated, but it is very likely that our ability to secure significant gifts to RIT from alumni and friends may be compromised by the current negative fiscal climate. As the current recession plays out, more of our current students and their families will face financial challenges as a result of nationwide layoffs and furloughs. It is also possible that the current economic crisis could affect enrollments in future years, and resulting tuition revenue could be reduced as a result. For all of these reasons, it is prudent for RIT to take steps to ensure that we can deal with all of these potential challenges.
Our actions have been guided by two fundamental principles. First, we will work to preserve the quality of our education and research programs across the University. Second, we will work to protect the RIT family, including students, faculty, and staff. Every decision we make and every action that we take to address the current economic crisis must take into account these two principles. To date, we have agreed upon the following steps:
1. RIT will ask its Trustees to approve a modest inflationary tuition increase in the range of 3.5-4.5% for the 2009-2010 academic year. Any increased revenue resulting from this increase will be used to augment need-based financial aid for our students, to cover a modest enrollment reduction should it occur, and to cover inflationary cost increases in such areas as energy and health insurance for our employees.
2. We will not include any salary increases for faculty, staff, or administrators in our budget planning for next year. Should the RIT fiscal situation turn out to be stronger than we predict, we can always revisit this issue next Fall.
3. I have asked the Vice Presidents to personally approve any faculty and staff hires until further notice to ensure that we keep personnel costs down to the minimum necessary to preserve the quality of our education and research programs.
4. Each Vice President has been asked for a plan to reduce spending in their division for the rest of this year and into next year.
5. The University will continue its current posture of moving forward with only the most strategic capital projects and will delay all others. Projects intended to address code or safety issues will continue as necessary.
6. Sr. Vice President Watters has been instructed to include a significant contingency fund in next year’s budget to protect the institution from unforeseen fiscal circumstances beyond our control.
7. Because enrollment is so important to our fiscal health, I have asked Sr. Vice President Miller to work with the Deans to plan an aggressive “yield” effort this year to encourage students admitted to RIT to enroll next Fall.
Other actions may prove necessary as we navigate through these extraordinary financial challenges, in which case I will continue to inform the entire RIT family of any steps taken. Working together, I am confident that we can not only survive this difficult period, but continue to move this “category of one” university forward toward our shared goals. I am very grateful for your support and for your hard work for RIT.
cc: RIT Trustees