Lindenwood University will freeze tuition for 2003-2004 and reduce students’ room and board by $200. President Dennis Spellmann made the announcement Wednesday after a meeting of the university’s executive board.
The freeze covers all tuition paid at Lindenwood, including the adult accelerated program and graduate programs.
Undergraduate tuition at Lindenwood is $11,200 annually. Room and board is being reduced to $5,400.
Lindenwood has grown to nearly 12,000 students and has spent $30 million on two new residence halls and a new campus center in the past two years. Spellmann said the university is on solid financial ground and made the decision to freeze tuition to provide students “with some economic certainty in this uncertain time.”
He said his board of directors made the decision to freeze tuition again because the university has no debt “and it was the right thing to do for our students. We have the ability to do this, so we should do it.”
Public colleges and universities in the metropolitan area are making up for their loss of state funding by considering double-digit tuition increases, Spellmann said. Independent colleges and universities don’t receive the same state subsidies as public institutions, but they do face increasing costs “just like all other universities.
“You can increase revenue by charging more tuition,” Spellmann said. “But that will drive away students who cannot afford college. That’s not the way we want to do it. Lindenwood would rather make this promise to provide a little stability and will give students confidence that they can attend our school without having their cost skyrocket.”
Lindenwood, based in St. Charles, has 26 locations around the state of Missouri The university is currently in negotiations with the City of Belleville to open a campus in Illinois. Lindenwood also made international news recently with a barter program offering tuition for livestock.