Eureka College Trustees voted Feb. 7 to freeze room and board costs for the 2014-2015 academic year. The vote came on the heels of the board’s decision in October to also freeze tuition at this year’s rate. The freeze applies to current and incoming students.
“Our students and their families know the value inherent in the private, residential, four-year experience that Eureka College offers. And, we understand the constraints their family budgets are under,” Eureka College President J. David Arnold said. “The decision to freeze room and board rates as well as tuition for the coming year is another example of how we are helping our students and their families manage the cost of their education.”
The housing cost will remain $4,100 on average depending on which residence hall students select. The standard meal plan will cost $4,400.
Tuition will remain $10,030 per semester or $20,060 for the academic year. This is the second time in the last 10 years that the college has frozen tuition.
For most students, the cost to attend is reduced through institutional aid as well as state and federal educational grants. Incoming freshmen receive an average of $15,000 to $18,000 in financial aid.
“Eureka College has always been committed to keeping our exceptional educational experience affordable and accessible,” said Dean of Admissions Kurt Krile. “Since our founding in 1855, the college has consistently offered some of the lowest tuition rates among Illinois private colleges. This focus allows us to provide a private, liberal arts education to a diverse student base, including first-generation students, which improves the educational and economic capacity of our state.”
In addition to the freeze on tuition, fees, room and board, the college has developed a new institutional aid process to provide a straightforward approach for students and their families. Academic merit scholarships are now calculated based on two categories: students’ high school grade point averages and their ACT exam scores. Additional scholarships, called engagement awards, are given to students who show excellence in areas that are connected to the college’s mission, like community service, leadership and the fine and performing arts.
“We are being intentional about the type of student body we are selecting, and by revamping our scholarship structure, we are able to better incentivize students who fit with the Eureka College ethos of learning, service and leadership,” said Director of Marketing and Communications Corrie Heck. “The continued significant investment in institutional aid and the across-the-board rate freeze ensures that Eureka College students are graduating with a world-renowned private college education and relatively low levels of loan debt.”