Scholarship fund cripples students
September 29, 2014
As tuition costs continue to rise at Columbia, the college’s scholarship funding has dramatically increased.
During the 2013–2014 academic year, the college awarded $32 million in scholarship aid to students—an $8.5 million increase from the previous year. Correspondingly, for the 2012–2013 academic year, tuition was $21,200, but increased in the 2013–2014 academic year to $22,132. This year, tuition took another jump to $22,884.
While it is admirable that the administration is awarding more scholarships to students, Columbia should not increase scholarship funds greatly when the school’s financial stability seems questionable. Because fundraising ability remains uncertain and Columbia derives most of its budget from tuition, the increase negatively impacts current students who pay for college with loans, especially because the scholarship support will aid incoming students and neglect returning students.
The administration should recognize that it is unfair to use current students’ tuition to fund scholarships that will not benefit the majority of them.
Public institutions have state support and elite private institutions have large endowments and are fundraising powerhouses, which enable such schools to use those funds toward scholarships. Columbia struggles to receive financial support outside of tuition funds, as reported April 5 by The Chronicle. When Kwang-Wu Kim took office, he said fundraising would be a major priority for his administration, but tactics are still in the developmental stages.
The increase in funding is beneficial for students who cannot afford to attend Columbia without scholarships. However, constantly increasing tuition can financially cripple other students despite the attempt to help those in need of scholarships. This is not fair for students who take out loans and pay them back with interest or for parents paying to send their student to school. The students working several jobs in order to afford their tuition become an afterthought. Columbia has a low retention rate, and the college’s unstable tuition could be a contributing factor. Some students who drop out of Columbia may do so because tuition becomes too unaffordable. At a time when the college is suffering from declining enrollment, it should try to support its current students—not push them away. The most effective way to do this is by stabilizing tuition.
That is not to say that Columbia’s initiative is not admirable. Without scholarships, some of the college’s most promising students would not have been able to attend. To prevent such an imbalance, the scholarship fund should be capped for now until Columbia can use endowments and fundraising. Instead Kim should address student concerns directly, especially at upcoming town hall meetings he will host this year.