…tuition and room and board only covers 86 percent of the cost of running Beloit College, so by this time in March, tuition “runs out.”
Ninety percent of Beloit students receive scholarships and financial aid to help make college more affordable. In fact, after financial aid is given out, the money Beloit actually brings in from tuition and other student fees only covers 86 percent of the annual cost of running Beloit. That means that by about this time in March, tuition “runs out.”
But Beloit College can’t shut down in March. Students need to attend classes and eat. Residence halls need to be heated or cooled. Classrooms and labs need equipment and professors! Student internships and study-abroad terms need to be paid for.
If it were just up to student tuition to keep Beloit running, we’d have to stop classes just after spring break. Or we’d have to raise the price of tuition and cut the amount of financial aid given out. Luckily, even though all the tuition money has already been spent, Beloit College will still be open for business next week. Check back in tomorrow to find out who pays for your education when tuition money runs out.
This article is part of an informational series related to Tuition Runs Out Day. Keep an eye out on campus for more “Did You Know” fliers, and check back tomorrow for another fact.