1.0Lafayette Magazine Summer 2012https://magazine.lafayette.edu/summer2012gaulahttps://magazine.lafayette.edu/summer2012/author/gaula/College Budget 101 - Lafayette Magazine Summer 2012rich600338<blockquote class="wp-embedded-content" data-secret="YR7BuI6V66"><a href="https://magazine.lafayette.edu/summer2012/2012/07/20/college-budget-101/">College Budget 101</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://magazine.lafayette.edu/summer2012/2012/07/20/college-budget-101/embed/#?secret=YR7BuI6V66" width="600" height="338" title="“College Budget 101” — Lafayette Magazine Summer 2012" data-secret="YR7BuI6V66" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script type="text/javascript">
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https://magazine.lafayette.edu/summer2012/wp-content/uploads/sites/8/2012/07/FbudgetSummer2012FEATURED.jpg960400A close look at the revenues and expenses of a representative small private college. by Annette Smith Parker | Infographics by Dale Mack The American higher educational model is robust—no other educational system in the world provides such diversity of experience and opportunity. Nevertheless, in the last 10 to 15 years tuition costs have risen dramatically, and particularly at small private colleges and universities. Some of the factors include highly trained faculty members who provide a hand-tooled education in small classes, low student-faculty ratio, significant academic resources including technological infrastructure, library materials, and laboratory equipment, and support for residential life on beautiful campuses with counseling and career services and enhanced security staff. The budget in the example presented here is of a nonprofit private institution, designated by law as “a purely public charity” because of the benefit it provides to society.* Nonprofit institutions are exempt from paying most taxes, can accept donations, and they provide financial aid to students, supporting those who would otherwise be unable to afford higher education.