The University Board of Trustees approved an average increase of 2 percent in meal plan rates, along with an overall 1.16 percent decrease in room and board expenses starting in 2011.
Each meal plan rate, except for BG-on-the-Go, will see an increase.
Sheri Stoll, chief financial officer, said the United States Department of Agriculture is estimating a 3 to 4 percent increase in the cost of retail food. Bloomberg, a financial news organization, anticipates an increase of 1.5 to 2.5 percent.
“So that is why we felt that if we stayed on the low end of that, that would be a reasonable increase for us for this coming year,” Stoll said.
President Carol Cartwright said the University is aware of the concerns about the overall affordability and cost of higher education. But increases in food costs affect everyone, including the University.
“We are clearly living in the world that everyone else lives in terms of what is happening, for example, with food prices,” she said.
Stoll said the current economical situation was accounted for when deciding on the increases.
“I know an increase is still an increase, but I think we tried very hard to keep it as low as we could,” she said.
Room rates will also see a change in 2011, but it will be in some students’ favor.
“While we are increasing our standard double room, our average room rate change is actually a decrease of 1.16 percent,” Stoll said. She said the rates were adjusted by looking at currentroom rates relative to each other, to the new halls, to the external rental environment in the community, as well as occupancy levels in the community.
After the new rates, doubles in Offenhauer Towers and Founders Residence Hall will stay the same. Singles in both residence halls will decrease by $150, or 4.69 per- cent. The Founders Super Single will decrease by $300,or 8.11 percent. Standard single and double room rates in other residencies will increase by 2.93 percent and 3.39 percent. It is estimated that the current price of $2,215 for a standard double will increase to $2,280; singles from $2,950 to $3,050.
Cartwright said the University will continue to be priced competitively amongst schools in the area.
If other state institutions increase room and board by 3 percent, the University will continue to be 6th out of the 13 Ohio four-year public colleges in terms of lowest total cost with $16,728 in fiscal year 2011, according to estimates presented to the Board of Trustee’s financial committee. If the other colleges have no increase, the University will move to the 7th spot.
“If you consider the total cost of attendance, we are clearly right at the midpoint,” Cartwright said. “It is still a very strong value for the overall opportunity and experience, in our judgment.”
