Benedictine, named the fastest-growing private research university in the country by The Chronicle of Higher Education and among 10 universities in the nation on the cutting edge of tech for 2013 by education and technology blog edcetera, has a history of bringing affordable education programs to the communities it serves. Following the tragedy of 9/11, Benedictine began offering free tuition to first responders to give them an opportunity for a career once they left public service. When the country’s financial crisis was at its peak in 2008, Benedictine was one of only a handful of universities nationwide to freeze tuition for all its students.
Though the job outlook is improving, the job market itself is changing. Traditional manufacturing jobs may never recover from their losses. Carpenters, assembly workers and software engineers were also hit hard by the recession.
On the other hand, areas such as international business, finance, health care and technology will enjoy some of the largest growth between now and 2018, according to the U.S. Department of Labor.
However, regardless of the field a job applicant hopes to enter, a college degree is a necessity. Not only is the unemployment rate for those without a degree higher than for those with one, the demand among employers for workers with postsecondary degrees will continue to surge while high school graduates will find themselves largely left behind. Degreed workers can also expect to make more than $1 million more in their lifetime than non-degreed workers, according to the U.S. Census Bureau.
That is why Benedictine University offered tuition breaks and financial assistance to students whose parents were hit hard by the financial crisis, and created an “Illinois Back to Work” program in 2011 to help people get a better education that would increase their job options. Though funding for the program has ceased, the idea that a quality college education should be affordable has not. The University is constantly striving to meet the needs of future employers by educating future leaders in business, science and education in a competitive environment.
Benedictine University is nonprofit institution. It's mission is to serve the community, including students, faculty, staff, alumni, parents and the greater global society. As such, costs are managed to retain high-level faculty, staff and facilities and not gorge upon a fragile populace by constantly increasing costs until they are exorbitant and impractical.
“We don’t have to answer to stockholders, so our costs are based on how efficiently we can run our programs,” said Benedictine University President William J. Carroll, Ph.D. “We have a history of making education affordable.”
Committed to Assisting Students:
Benedictine University is committed to serving a diverse student body as well as seeking out students who may believe they cannot afford a private education. More than 94 percent of incoming freshmen at Benedictine receive some form of financial aid. But what may be more surprising is that more than 98 percent of these freshmen receive institutional grants – that’s free money that does not have to be repaid. And of this 98 percent, Benedictine Students receive more than $10,000 each in free University aid. Read more about how we assist students.
Where does your tuition go?:
Unlike public universities, which are partially subsidized by tax revenues, many private universities like Benedictine – which do not have substantial endowments or a large pool of major donors and are nonprofit institutions – rely predominately on tuition dollars to cover the cost of providing an education.