FixedFor4 Offers Washington College Families and Students More Certainty in Planning for Tuition
Continuing its attack on the issues of college cost, access, and student loan debt, Washington College has announced FixedFor4, a fixed-rate tuition plan beginning with next year’s freshman class and encompassing current undergraduates. Former President Sheila Bair, who has spearheaded the College’s efforts toward affordability over the past year, says the change will make it easier for students and their families to plan for and afford a four-year liberal arts education.
Here’s how FixedFor4 will work: Beginning fall 2017, tuition will cost $43,702. That will be the fixed rate for freshmen who graduate in four years (the Class of 2021), as well as for students already enrolled. Beginning in the fall of 2018, tuition increases for freshman classes will be evaluated annually, however the rate, once set, will remain fixed for the students’ four years. The cost of room and board is not part of tuition, and will continue to change annually depending on economic factors.
Frequently Asked Questions
Does this mean financial aid will only need to be packaged once?
Financial Aid will continue to be packaged one academic year at a time, as families are required to file the FAFSA each year to determine eligibility for federal, state, and institutional aid. Eligibility for financial aid will continue and be unaffected.
Will the college increase other fees to take up slack?
Room and board will continue to be driven by inflation and generally capped at the CPI (Consumer Price Index), which is 2% in FY ’18.
The 2 percent increase in 2017-18 is to pay for transitional costs?
The 2% increase is pegged to the CPI for FY ’18, which is 2%.
Does this affect my scholarship?
No, your scholarship will be unaffected.
How much does tuition tie in to total cost at the College?
Tuition locks 78% of total cost of attendance for families.