By Bianca Dinkha
With the new academic year underway Dominican is facing several budget cuts, with an estimated $3 million deficit. Low enrollment and rising costs have put pressure on the university to make budgetary adjustments.
With Dominican expecting 715 new incoming freshmen this year, only 605 students have enrolled for the fall semester. A final census is scheduled for September 15.
Mark Titzer, Chief Financial Officer, says that the university has 60 to 70 students below the budget and are looking at ways to balance their expenses, especially for staff and faculty.
This includes delaying capital projects, implementing a voluntary separation plan, introducing a flat health care contribution rate, and delaying the hiring of new employees.
The voluntary separation plan is for staff and faculty of at least 62 years of age with 10 years of service to resign by the end of this year in exchange for a full year’s salary and benefits.
Uncertainty in higher education, including concerns regarding access to loans, Pell Grants, and fears among mixed-status, or undocumented students are contributing factors to low enrollment.
“Our financial aid strategy and our acceptance standards didn’t really change materially,” Titzer said. “There’s a lot of uncertainty among families about the affordability of a college education. I think that all influences our enrollment.”
Additionally, there was a steep increase in tuition of 4.25%, while it had been rising by 2.5 to 3.5% annually since COVID, which might have affected enrollment as well.
Due to an imbalance between income and expenses, the university is looking at a projected $3 million deficit, said Titzer.
“There’s less support from the federal government,” he said. “Inflation, salaries, benefits and healthcare are all going up. It’s a yearly challenge to balance what students can afford and are willing to pay with what it costs to run the place.”
Tatiana Vasquez, president of Student Government Association (SGA), says that current elections for class senators will offer a way for students to voice their opinions during this time.
“Senators play a key role in making sure each class year’s unique concerns and ideas are heard, helping SGA advocate effectively for all students.” Vasquez said.
“If students are looking for additional support during this time, we want to hear from them,” she continued. “Our Senate meetings remain open, and it is our goal to think of additional ways to receive student concerns and comments to reach as much of the student body that we can.”
As Dominican faces challenges similar to many others, Titzer assures that the university is not in crisis and will continue to make necessary adjustments.
“We’ve been in business for 125 years,” he said. “We’ve been through a lot of ups and downs and have made it through stock market crashes, pandemics and wars. So, I think we’ll get through this.”
