Trustees at Elon University have approved a 2002-03 fiscal year budget that includes funding for new faculty and staff positions, expansion of the Fellows scholarship programs, additional library resources and upgrades in technology. The board approved the $79 million budget at its annual spring meeting held March 12-13 on the Elon campus.
“The trustees are continuing to support major investments in academic programs and personnel,” says Leo M. Lambert, Elon president. “Over the past six years, we have added more than 65 full-time faculty positions, expanded library resources and upgraded technology at every level. All of this is in line with the goals of the NewCentury@Elon strategic plan.”
Fifteen new faculty positions will be added in several academic departments and the 13 staff positions include new positions in student life, counseling, technology, physical plant and staff development.
Significant increases in scholarship funding will be concentrated in two areas, the selective four-year Fellows programs and the Presidential merit-based scholarship awards. Elon’s six Fellows programs offer talented students a variety of enriching educational opportunities and support. Need-based scholarships and athletic scholarships are also being increased. This year’s 21 percent increase in financial aid comes on top of last year’s 15 percent increase.
Next year will be the fourth straight year of significant new investments in library resources. In the past three years, Elon has doubled its spending on library acquisitions, and currently invests nearly $200 per student each year on books, journals, electronic and online collections. Next year’s increase will be concentrated on print and electronic academic journals, giving students access to more than 10,000 journal publications.
Next year’s technology initiatives include improved networking and security, new equipment for instructional technology and a continuation of Elon’s plan to replace computer equipment on a three-year cycle.
Tuition for the 2002-2003 academic year will be $15,280, an increase of $945. Room, board and fees will total $5,315, a $220 increase. Even with those increases, Elon’s cost for 2002-2003 will remain about 18 percent below the national average for private colleges and universities, about 5 percent below the average for schools in the South, about 35 percent below the average for schools in New England and about 25 percent below the average for schools in Middle States.