St. Thomas University Media Release

Communications and Media Relations
St. Thomas University
Fredericton, NB, E3B 5G3
Tel (506) 452-0522, Fax (506) 460-0335

 

May 13, 2005

St. Thomas University Board Approves 2005-2006 Budget

Fredericton – St. Thomas University’s Board of Governors has approved a balanced budget for fiscal year 2005-2006 with increased spending in academic and service areas.

The budget includes fee increases similar to the previous year which is expected to maintain tuition, residence and ancillary fees at St. Thomas as the most competitive in the Maritime region. The budget also continues high levels of student scholarships and bursaries.

“Our budget reflects our institutional priorities as we continue to invest in faculty, services and facilities to keep pace with the high expectations from our students,” said President and Vice Chancellor Dr. Daniel O’Brien. “Offering high quality programmes brings cost pressures and, at the same time, we are sensitive to the financial circumstances of our students, so I’m pleased that we are able to keep our fees among the best the region.”

Tuition will increase by $230 or 5.9 per cent bringing the tuition for full-time students to $4,145. This required increase addresses cost pressures from academic areas, particularly with the addition of five new tenure-track positions and a significant increase in part time faculty appointments. Residence fees will increase by 5 per cent as the cost of a double room with a base meal plan will increase from $5,330 to $5,600.

Dr. O’Brien noted that St. Thomas provides students with a generous scholarship and bursary programme devoting more of its operating budget to scholarships and bursaries than any other university in the region. It annually commits more than $1.5 million in scholarships and bursaries to students. More than half of first-year students hold an entrance scholarship, and one in eight hold a renewable award ranging in value from $2,000 to $46,000.

This year, the university will introduce technology and capital enhancement fees of $50.00 each. The technology fee is required to counter increasing expenditures in that area. The capital fee is necessary to address increased pressures for capital expenditures. Balanced against these fees, St. Thomas is the only university in the region to include a health plan as part of tuition, a $100.00 value.

Media Contact – Jeffrey Carleton, St. Thomas University, (506) 452-0522 or carleton@stu.ca.