NEW WILMINGTON, Pa.– A solid education can put a dent in your wallet to say the least. To attend a beautiful private institution that is nationally ranked as one of the best might cost you around $45,000. That is the rough going tuition rate if you attend Westminster college. Which has been on a steady one percent increase over the past couple years and shows no signs of slowing down anytime soon. While Westminster is a beautiful campus with great facilities, we still see many renovations. With renovations ongoing and construction all over the place you may begin to ask, “is this where my money is going?”. The answer is no. I recently talked to Vice President of Westminster Ken Romig who has all the inside scoop.
WC recently refinanced its debt and sold bonds which created about 14.2 million dollars in new money. This money along with fund raising are covering most of the new renovation jobs going on around campus. The money must be invested into longterm assets but the debt still needs paid off. So some of your tuition money goes towards paying off the long term debt, which is why you keep seeing an annual increase.
Most of your tuition money goes towards full operation costs of the college. Taking care of the college’s bills, and also paying for the faculty and staff. The hope for the college is to attract more students so costs can go down. so all the improvements are student focused to provide the best possible experience.
Don’t let the high price fool you. Westminster gives a lot of scholarship money along with financial aid. Most kids only end up paying an average of about $21,000 per year. So next time that professor gives you a ridiculous assignment or tests just tell them “remember I pay your salary pal”.