News Release (November 1, 1966)

PAGE 1

NEW COLLEGE, SARASOTA, FLORIDA FURMAN C ARTHUR INFORMATION NEH COLLEGE CUTS TUITION CHARGE, FEELS IT HAY INCREASE TOTAL INCOHF FOR RELEASE: TUESDAY, NClVEt!BER 1, 1966 Sarasota, Fla. -Colle11e today announced a decrease of $300 in its annual individual student charges, effective September 1, 1967. "He are not trying to set a trend or fight inflation," said President John Elro:::mdorf "He actually have some reason to believe that this decrease in our established charges may work to increase our total income." Dr. Elmendorf the seeming paradox as follows: New College has a three-term academic year about one-third longer than the average college year. Because the Neu College student can earn his degree in three years, the total cost of attendinv New College is comparable to the total cost at leadinp, private four-year institutions. There is considerable to Dr Elmen-dorf that the current $4, ;'.GO comprehensive annual charge at Net-1 College --for tuition, board, room and certain fees -inhibits many families, even those with reasonably high incomes, from seriously considering New College for their sons and daughtersc Paradoxically, families of more modest means are less inhibited, because they are aware that \o7ell-qualified students who need financial help can obtain it. -more-

PAGE 2

,. Nel-J" College, Sarasota, Fla. Par,e 2 "He feel that an educational bill belou $4,000 may a closer look at us by more families capable of paying a substantial part of the cost of college education for their children," Dr. Elmendorf said. "If this turns out to be so, l-J"e may well experience an increase in per capita income from students." He pointed out that approximately 75 per cent of Collep,e students are now receiving some degree of financial aid. This means that the average actual income per student is substantially lower than the stated charge of $4,200, New College, which accepted its first students in 1964, now has all three classes enrolled. The first graduates lV"ill receive their degrees from the collP.ge next surr.mer. --