“as long as we are balancing our - purdue university · 2020-02-13 · “as long as we are...
TRANSCRIPT
“As long as we are balancing our operating budget, growing our faculty, investing in necessary capital projects, increasing staff compensation competitively, all without tapping our cash reserves, why would we raise tuition?”
JANUARY 2018 ANNUAL OPEN LETTER TO THE PEOPLE OF PURDUE
GROWING OUR FACULTY
2,228 2,259 2,253 2,230 2,199 2,207 2,225 2,325 2,404 2,473 2,460 2,510
0
500
1,000
1,500
2,000
2,500
3,000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018Excludes Postdocs & Extension Educators. Includes Continuing & Limited Term Lecturers. Uses FTE method.
FACULTY GROWTH OUTPACED STUDENT ENROLLMENT GROWTHSt
uden
ts p
er fa
culty
Excludes Postdocs and Research Faculty. Undergrads only.
13.62 13.08 12.48
0
2
4
6
8
10
12
14
16
2008-12 Median Fall 2013 2014-18 Median
INVESTING IN NECESSARY CAPITAL PROJECTS
Innovation District
BechtelInnovation Design Center
Engineering Renovations
Wilmeth Active Learning CenterAmerican Railway
Flex Lab
Controlled Environment Phenotyping
• Land O'Lakes Center for Experiential Learning• Hobart & Russell Creighton Hall of Animal Sciences• Purina Pavilion
STEM Teaching Lab Facility
ABE
INVESTING IN NECESSARY CAPITAL PROJECTSREPAIRS & RESTORATION (R&R) – PROJECTS UNDER $2M
Since 2013, investments in the upkeep & preventative maintenance of our buildings has increased 16%.
$36
$48$56
0
10
20
30
40
50
60
2008 2013 2019
Millio
ns
Projected
Up 56%
RECENT MAJOR FUNDING INVESTMENTS
$44 MillionFaculty Startup Investments for New Hires FY16-19
$35 MillionNew VetMed HospitalFY18
$81 MillionPurdue Moves InitiativesFY16-19
$27 MillionVarious student Initiatives (eg.Study Abroad, Advising etc. FY16-19
$76 MillionAcademic, research & infrastructure investments
Recurring Annually
INCREASING STAFF COMPENSATION COMPETITIVELY
• Dental Insurance – Added 2016• Autism Insurance – Added 2016
New Benefits
Pay Increases• 3.5% Merit Pay – 2016• 2.5% Merit Pay – 2017• 2.5% Merit Pay – 2018 • 2.5% Merit Pay – 2019
• Winter Recess – 2015, 2016, 2017, 2018
One-time Benefits
INCREASING STAFF COMPENSATION COMPETITIVELY
• Dental Insurance – Added 2016• Autism Insurance – Added 2016
New Benefits
Pay Increases• 3.5% Merit Pay – 2016• 2.5% Merit Pay – 2017• 2.5% Merit Pay – 2018 • 2.5% Merit Pay – 2019• 2.5% Merit Pay – 2020 New!
Total: 13.5% in 5 years
• Winter Recess – 2015, 2016, 2017, 2018• 2019 Winter Recess –New!• $500 Appreciation Award – 2019 New!
One-time Benefits
• 6 graduating classes will earn degrees without ever experiencing a tuition increase.
• Indiana residents continue to pay less than $10,000 per year in tuition.
• The last time a tuition increase was announced was when today’s freshmen were in elementary school.
ANNOUNCING YEAR EIGHT WITH NO TUITION INCREASES
STUDENT SAVINGSIf Purdue had raised tuition & fees at the average rate of other schools from 2013-18:
Tuition would be: ≈ Savings over 4 years*Indiana Students $1,400 or 14% higher $5,600 saved
Non-Hoosier U.S. Students $6,524 or 23% higher $27,000 saved
*Excludes Purdue in average, 4-year savings assumes all-rates held constant 4 years
vs. 4-year public universities
vs. Big Ten
AFFORDABILITY RECORDS & TRENDS
$3,631 $3,916
$4,281 $4,396 $4,348 $4,632
$5,092 $5,408 $5,451
$5,047 $4,555
$4,166 $3,988 $3,881 $3,657
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
AVERAGE ANNUAL STUDENT BORROWING PER UNDERGRADUATENOMINAL $
DEFAULT RATE: 3-YEARS AFTER EXPECTED GRADUATION YEAR
5.3% 5.1%
3.4%2.8% 2.5% 2.6%2.5%
1.6%1.0% 0.8%
6.4%5.9%
3.9%3.0%
3.6% 3.9%
0%1%2%3%4%5%6%7%
2010 2011 2012 2013 2014 2015
All Purdue WL Borrowers Purdue Borrowers who Graduated IU (All Borrowers)
QUALITYCOST =VALUE
Higher Education at the Highest Proven Value