Three Year Option

Winter, Summer and 3 Year Pre-Registration

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As we approach the Thanksgiving break, students are busy choosing their classes for the spring semester. Wesleyan offers almost 1,000 classes and dozens of programs, and so this can be a daunting process. I always have many first-year students in my classes (in the spring I’ll be teaching The Modern and the Postmodern again), and I know many of them are exploring a variety of fields even as they get closer to a field of concentration.

In recent years, we have tried to provide students with even more paths towards their degree. Some students choose to take classes during the Winter Break or in the Summer Session. Registration for the winter courses closes just after Thanksgiving, and so now’s the time to lock in those decisions:

Students considering a lighter course load in future term, or who are thinking of graduating in three years — or who simply wish to put their winter break to good use — may want to make a Winter Session course part of their academic plan. Housing and meal plans are available.

Students complete reading and writing assignments before arriving on campus. Classes meet 5 hours per day for 8 days in January.

A quieter campus, and a singular focus on just one course, allows students to connect more closely with faculty and classmates. These intensive courses provide opportunities for new insights as students engage with topics in a truly different format.

To review past courses, click here. For information about other Winter at Wesleyan programs, please visit wesleyan.edu/winter.

 

There is still plenty of time to think about summer, but that’s what I start to do when the weather gets nippy. Here’s the info on the summer session:

Wesleyan University offers an intensive Summer Session in which students can complete semester-long courses in only five weeks; courses are offered in June. Wesleyan Summer Session is open to students who feel they have the academic qualifications and stamina to complete an intellectually challenging course in a compressed schedule. Residential options are available for both Wesleyan and non-Wesleyan undergraduates. Local precollege (high school juniors, seniors, and PG students) are invited to attend courses as commuting students.

You can find more information on recent summer classes here.

Students take classes outside the semester framework for a variety of reasons, and some find that it allows them to graduate in three years (saving a considerable amount of money).

Students who graduate in six semesters (three years of normal course loads plus summer courses) may expect to save about 20 percent of the total cost of a Wesleyan education. The three-year option is not for everyone, but for those students who are able to declare their majors early, earn credit during Wesleyan summer sessions, and take advantage of the wealth of opportunities on campus, this more economical path to graduation can be of genuine interest. A maximum of two pre-matriculant credits (such as Advanced Placement, International Baccalaureate, or college credits earned during high school) may be applied toward an accelerated program. Students pursuing the three-year option will be held to all the graduation requirements for the Wesleyan bachelor of arts degree. Students considering this option should consult during their first year with Dean David Phillips to review policies and procedures.

More on the three year program here.

Good luck planning the best pathway for YOU for YOUR diploma!

Think Summer….Think Summer

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Looking out my window at snowy Andrus field, or walking Mathilde gingerly on the sidewalks around campus, it sometimes seems like we are in for an endless winter. The dominant subject for discussion on the faculty listserve is snow removal, and finding a couple of tons of salt this week was a cause for celebration in North College. Winter in New England. Nobody said it was going to be easy.

But yesterday was at times glorious, with the sunshine beginning to melt the ice and warm the heart. I didn’t need gloves or a hat when I went for my lunch at Usdan, and everyone seemed just a little cheerier. I know it’s just a tease, but still it’s fun to begin thinking of spring and SUMMER!

Yes, summer will be here before we know it, and that means (of course) we can start thinking about the Wesleyan Summer Session! Every year now there are hundreds of students on campus from June through August pursuing research, holding down jobs and taking classes. Continuing Education puts it this way:

Wesleyan University offers an intensive Summer Session in which students can complete semester-long courses in only five weeks; courses are offered in both June and July. Wesleyan Summer Session is open to students who feel they have the academic qualifications and stamina to complete an intellectually challenging course in a compressed schedule. Residential options are available for both Wesleyan undergraduates and non-Wesleyan students.

And I remind you that the classes, in poetry or biology, archaeology or government, CAN BE HELD OUTSIDE! It’s a lovely way to study and earn credit. A course listing can be found here.

People take summer classes for all sorts of reasons, but one of them may be a decision to graduate early. Wesleyan offers students the opportunity to graduate ahead of the traditional four-year schedule, which can save families quite a lot of money (and allow students to go on to other things). You can learn more about the three-year program here.

 

It’s Cold! Think of Summer (Fast)!!!

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The calendar says it’s spring, but it’s been cold and windy in Middletown. Best to turn thoughts to summer and the great offerings in the Wesleyan Summer session. Online registration for summer session classes closes at the end of the day on Tuesday, March 26th. You can sign up for courses in animal behavior or applied data analysis, computer programming or the graphic novel. It’s a great time to catch up on a course you’ve always wanted to take, or to finish a requirement for your major. Whether it’s drawing or economics, summer is a great time to study at Wesleyan.

Some students will use the summer to accumulate credits so as to be able to graduate a year early. There is, of course, considerable tuition savings in doing so. As we say on the webpage devoted to this option: “The three-year option is not for everyone, but for those students who are able to declare their majors early, earn credit during Wesleyan summer sessions, and take advantage of the wealth of opportunities on campus, this more economical path to graduation can be of genuine interest. A maximum of two pre-matriculant credits (such as Advanced Placement, International Baccalaureate, or college credits earned during high school) may be applied toward an accelerated program. Students pursuing the three-year option will be held to all the graduation requirements for the Wesleyan bachelor of arts degree. Students considering this option should consult during their first year with Dean David Phillips to review policies and procedures.”

So whether you are considering early graduation, or just want to spend part of your summer in small classes studying things that interest you, check out the Summer Session. If you don’t register online by March 26th, you can still fill out forms to register later. But isn’t it nice to think of summer in this chilly spring…

From Affordability To Transformation

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Since I first posted a blog at the Washington Post about affordability plans at Wesleyan, there has been strong interest in our three-year option. I’m delighted and a little surprised. As I’ve said, it’s not for everybody, but the three-year possibility might make sense for many people. Here are two audio clips in which I’ve discussed what we are doing in this regard:

NPR Marketplace

WOR Radio New York

When I arrived in the office this morning, Heather Brooke asked me how I liked the Wall Street Journal piece. I didn’t know anything about it, and then was surprised to read the opening lines of an op-ed by Fay Vincent:

As the costs of attending college continue to mount, often well beyond the rate of inflation, the search is on for ways to economize. One seemingly obvious way is to reduce the number of years required to graduate. Last month, Wesleyan University, the private liberal-arts college in Middletown, Conn., did just that.

President Michael Roth announced that his institution would encourage students who wanted to complete the requirements for the Bachelor of Arts degree in three years rather than the customary four. These students would take some course work during the summer along with their normal load during the school year.

“I think it’s important to show that liberal arts colleges, even ones as selective as Wesleyan, are trying to do something about affordability,” he told the Associated Press. Tuition, room and board there is nearing $50,000 per year.

There are a smattering of other colleges across the nation that have three-year programs, but none with as high an academic profile. And while the Wesleyan decision has not attracted much attention or discussion, I suspect there will be more such cost-saving efforts in coming years.

Mr. Vincent was underestimating the price of institutions like Wesleyan, but I was pleased to see him encouraging experiments that will enhance affordability. At Wesleyan, we also want our experiments to intensify the educational experience so that it is more compelling than ever. A liberal arts education has long been about transformation. With Wes faculty, students, staff and alumni making contributions, we can also transform liberal learning so that it’s more relevant than ever!

Financial Aid: Now More Than Ever

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In my previous post, I described some of the steps Wesleyan is taking toward what I called “sustainable affordability.” One step is almost uncontroversial: we will no longer raise tuition rates in excess of inflation rates. Over time, this should mean that we will no longer be among the most expensive schools in the country. Some commentators have suggested that we more aggressively charge those families who can most afford to pay. I don’t think this is a serious option. We can (and we will) ask families with economic capacity to contribute to our financial aid scholarship funds.  Their philanthropy is more important than ever, but we will not build philanthropy into price.

The most controversial step I described was being only as “need-blind” as we can afford to be. Many people believe that being “need-blind” is a sign of quality — educational quality and moral quality. As I’ve said before, we could be “need-blind” and spend less money on scholarships. It’s easy for schools to choose metrics of student quality (like SAT scores) that correlate with wealth. They can say they are “need-blind” while having a more homogeneous student body. Schools can also remain “need-blind” by increasing loan levels or expected parental contribution. We will not do this.

This is what we will do: Wesleyan will continue to seek a diverse student body,  continue to meet full need, and continue to hold down student debt. We will continue actively to seek students who have great academic potential and very high need — families whose incomes make them eligible for our no-loan program, students who will receive full scholarships. And we will strive to find ways to make Wesleyan more affordable to middle class students. I am grateful for the suggestions in this regard in the blog comments, and we will study them and other ideas throughout the next academic year. These will be discussed on campus and with alumni in various parts of the country. Following up on suggestions in the comments, we will be making more of our financial planning documents available on the web as updates to the Wesleyan 2020 site.

The third step I described in my previous post is a three-year option for the BA. This idea has generated considerable discussion across the country. The three-year option may be an affordability choice for many students. It does not require overloads, nor does it steer folks to particular majors or jobs. The three-year option is not, though, for everyone, nor is it a form of financial aid. It’s a choice of how to get a great education in a more affordable way.

I want to be clear: As we increase our endowment levels, we will spend even more money on financial aid. Financial aid endowment and endowing key academic programs are the highest priorities for our fundraising efforts. Our generous parents and alumni have been donating tens of millions of dollars so that we can continue to meet the full economic needs of a very significant percentage of the Wesleyan student body. Labels aside, we are more dedicated than ever to supporting our students so that they can get the most out of their education. Labels aside, we will continue to use a holistic admissions process that strives to create a diverse class of talented students from different parts of the world, from all walks of life.

We will not pursue economic policies that undermine the long-term viability of alma mater. We want our university to be stronger over time, not for the sake of our endowment, but so that future generations can benefit from a Wesleyan education. Financial Aid — now more than ever.

We have been discussing these ideas about sustainable affordability over the last year with students, faculty, alumni and staff, and we will continue to gather ideas about how best to proceed. We do not expect these to be easy conversations. These questions can look very different from different perspectives. But to all of you who care deeply about Wesleyan, be assured that we will redouble our efforts to find ways to hold down costs, enhance diversity and increase support for scholarships. We want to increase access to Wesleyan not just for the near term, but also for the long term. Financial aid — now more than ever. Wesleyan — now more than ever.

 

Sustainable Affordability

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Just before Reunion-Commencement weekend, I discussed changing some of our assumptions for budget planning with the Board of Trustees. This followed several months of discussions with faculty, students and staff on campus. After the February board meeting, I met in an open session with the Wesleyan Student Assembly, as did the treasurer and chair of the faculty in subsequent weeks. I also led a discussion of budget priorities in an affordability meeting with students, and reported on our economic planning to faculty at various meetings. Throughout the year, Joshua Boger and I have been discussing these ideas with alumni groups.

At the Board meeting we discussed planning the 2013-2014 budget with some new assumptions, which are described below. Our goals are to make Wesleyan more sustainable and affordable while maintaining our commitment to providing the very best liberal arts education. In the fall, I will continue discussions with the various members of the Wesleyan family. Together, we will chart a path that creates the conditions that will enable the university to thrive long into the future.

Over the last few years there has been a marked increase in attention given to college affordability. As the cost of higher education (both public and private) has continued to climb, and as the prospects for economic growth continue to dim, many have wondered about the value of an undergraduate degree.

Despite this disquiet about college generally, during this same period the number of students trying to gain admission to Wesleyan has increased dramatically. Thus far this year we’ve accepted fewer than 20% of the students who applied. Our total student charges will increase by 4.5% next year, reaching $58,000, which provides about 74% of the revenue it takes to run Wesleyan. Our financial aid budget is projected to increase by 15%, which means we will be allocating about $50 million to scholarships in 2012-2013.

For years, we have followed this same pattern: tuition increases well above inflation, and financial aid increases that go far beyond that. Although this works well enough for families from the highest and lowest income brackets – the former don’t worry about a budget and the latter don’t have to pay – we’re squeezing out middle and upper-middle class families. Furthermore, this budget model isn’t sustainable.

Over the past 20 years, the percentage of the tuition charges that goes to financial aid has risen steadily. In the past, Wesleyan has dealt with this issue by raising loan requirements (replacing grants with loans), and by taking more money out of the endowment (or just spending gifts rather than directing them to the endowment).

One way to change this dynamic is to cut costs, and we have substantially reduced expenses without undermining the academic core of the institution. In my first year as president in 2007-2008, we canceled almost $200 million in planned capital expenditures. We also made difficult decisions that resulted in $30 million in annual budget savings and increased revenues. We have improved energy efficiency and re-negotiated our health insurance coverage.  We have also reduced our exposure to increases in our debt service costs while developing a program to begin repaying some of the debt the university incurred in the 1990s.

But I have also introduced measures that increase pressure on the operating budget. In 2008, we reduced loans for most students by about a third, which I still believe was the right thing to do given our claim to “meet full need.” And we also began placing a much higher percentage of the money we raised each year into the endowment. Our endowment per student is well below most of our peer schools, and it seemed vital to build Wesleyan’s economic foundation. While we do this, it is also essential to have funds to run a great university right now.

This year I have proposed a plan to trustees and the campus with three new components to make Wesleyan more affordable in ways that can be sustained. The first is to establish a “discount rate” that is as generous as possible, but that is also one we can afford. The discount rate refers to the amount of tuition the university does NOT collect, and it is the key measure for financial aid. For Wesleyan this means just under a third of our tuition charges will go to financial aid. This is approximately the percentage of the budget devoted to aid from 2000-2008.

We remain committed to meeting the full financial need of the students we enroll, and to do so without increasing required student indebtedness.  This may mean that we will have to consider the capacity of some students to pay, as we do now with transfer and international students. We will read all applications without regard for the ability to pay, and we will be need-blind for as many students as possible. Currently we project this to be about 90% of each class (depending on the level of need). We could retain the label “need blind” by raising loan levels or shrinking grant packages – but this is the wrong thing to do. We feel it is crucial for the education of all our students to meet the full need of those who are enrolled without increasing their debt. As we raise more funds for the endowment, we will be able to build a more generous and sustainable financial aid program.

The second component of our affordability effort will be linking our tuition increases to the rate of inflation. We have already moved into the realm of the country’s most expensive colleges, and this is not a list on which we want to remain. Restraining tuition increases will require us to maintain our search for efficiencies while also investing in educational innovation across the curriculum.

The third component is to emphasize a three-year option for those families seeking a Wesleyan experience in a more economical form. We will help those students who choose to graduate in six semesters get the most out of their time on campus. The three-year option isn’t for everyone, but for those students who are prepared to develop their majors a little sooner, shorten their vacations by participating in our intensive Summer Sessions, and take advantage of the wealth of opportunities on campus, this more economical BA might be of genuine interest.  Allowing for some summer expenses, families would still save about 20% from the total bill for an undergraduate degree.

I am convinced that these measures will enable us to preserve access to Wesleyan for capable, creative students while preserving the essential qualities (great faculty, diverse community, excellent facilities) that these students want. We are justly proud that so many who are so talented want to be part of the Wesleyan educational experience. With thoughtful planning, which will involve continued discussions with students, faculty and alumni, we can ensure that this remains the case for generations to come.

Why Colleges Should Offer a Three Year Option

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As I prepare for my commencement speech this year, I remember vividly when I first realized that I could graduate college in three years rather than four. As a freshman, I was certainly in no hurry to leave. Indeed, I loved being in college: I was excited by the combination of freedom and opportunity to work hard on subjects I loved with faculty I admired. I didn’t want to leave – even for vacations!

But I realized that graduating in three years would save my family lots of money. Neither of my parents had attended college, and they had sacrificed for years to send my brother and me to the schools of our choice. My father was a furrier, and my mother had given up a promising singing career to raise us (while earning money selling clothes in our basement). They were proud that they were able to afford good colleges for us, and they would never have asked me to skip a year.

But I was proud, too, and I wanted to show my father that all the studying I had done had paid off in some way. I had accumulated credits through APs and a summer program, and with a little extra effort I could save almost a year of tuition – over $6,000! I loved my alma mater, but it seemed expensive even in the 1970s, and so I became a sophomore during my first year. The campus offered me countless opportunities, and I ran after them: I was president of my (co-ed) fraternity, published fiction, took music lessons, held down more than one job, and sought to excel in my classes. At the time, I thought that given the fact that I was going to be at school for only three years, I’d better take full advantage of everything there that I could.

Well, I have now been back at my alma mater as its president for five years, and I still find it an amazing place full of opportunities for learning. Recently, I have spoken with the trustees here about measures we can take to make the university more affordable while still ensuring the quality of an education that comes from face-to-face learning with accomplished scholar-teachers. Wesleyan, like many universities, has gotten ever more expensive, and even though we have a robust financial aid program, we know that many families who don’t qualify for large scholarships have great difficulty paying the high tuition we charge. We use these high fees to maintain the quality of our campus and our instruction – and to provide more funds for financial aid.

But in the last year or so, I’ve come to believe that this model is unsustainable. In a new model we are developing we will be committed to spending almost a third of our revenue on scholarships while meeting the financial need of our students without requiring excessive loans. We will also commit to linking tuition increases with inflation, rather than depending on the much higher rates of increase to which Wesleyan (like most colleges and universities) has been accustomed for decades.

We will also make more visible — and provide more support for — the “three year” route that I chose in the mid 1970s. That is, we will help those students who choose to graduate in six semesters (along with some summer work) get the most out of their time on campus. The three-year option isn’t for everyone, but for those students who are prepared to develop their majors a little sooner, shorten their vacations by participating in summer sessions, and take advantage of the wealth of opportunities on campus, this more economical BA might be of genuine interest. In our case, allowing for some summer expenses, families would still save about 20 percent from the total bill for an undergraduate degree. At many private schools that would be around $50,000!

Some have said to me that students think of their undergraduate experience as among the four best years of their lives – so why would they only want three? That’s the question I faced in 1975, and my decision then was that the economic trade-off was worth it. My appreciation for the remarkable experience had at residential liberal arts colleges has only grown since then, but that does not mean that I came to regret my decision. Three marvelous years here were enough to set me squarely on the path of a lifetime of learning.

Again, by no means is the three-year option for everyone. But if we can offer families the same quality undergraduate degree at a significantly reduced total price – and I think we can – why not do it? Our professors will continue to advance their own fields as they mentor young people whose curiosity, idealism and ambition are unleashed. By making this experience a little more accessible, I am betting we will only add to the diversity and quality of the experience for all our undergraduates.

Cross posted from the Washington Post