Lyon School freezes tuition, housing, and meal plan charges for 2023-24 faculty yr

Inflation has hit many households arduous and not less than one non-public school in Northeast Arkansas has determined to freeze its tuition, housing, and meal plan charges for the 2023-24 faculty yr. The Lyon School Board of Trustees introduced not too long ago that it’s going to not enhance tuition or housing prices for the 2023-24 tutorial yr.

“Our board members are extraordinarily centered on our dedication to creating a Lyon School schooling inexpensive and accessible for college students and households,” stated Perry Wilson, Lyon School Board of Trustees chair. “Because the college-going fee in Arkansas continues to say no, it’s essential for all faculties and universities to give attention to efficiencies and cost-effectiveness with the intention to assist preserve a wholesome financial system and workforce within the state.”

Assistant vice chairman for enterprise and finance Joe Botana informed Speak Enterprise & Politics the typical full-time tuition is about $30,000 yearly. Meal and housing plans can collectively run from $10,000 to $11,000. However these aren’t actual, out-of-pocket prices for almost each scholar and their households, he stated.

Nearly all college students qualify for scholarships, grants, and different types of monetary support, he stated. Commuters, those that don’t dwell on campus have not less than 70% of their tuition prices lined by some type of monetary support on common, and in some circumstances it’s the next proportion that’s lined. Meaning $30,000 in actuality is just $9,000 per yr or much less.

Lyon School President Dr. Melissa Taverner stated the School continues to give attention to creating extra accessibility, bettering affordability and graduating extra college students.

“For 150 years, Lyon School has been deeply dedicated to our mission of making ready college students for fulfilling private {and professional} lives,” Taverner stated. “By freezing our tuition, we’re in a position to talk clearly that we’re firmly devoted to serving to our college students full their instructional journeys and fulfill their profession objectives.”

There was 12% enhance in new scholar enrollment from fall 2021 to fall 2022. The school had just below 500 college students enrolled this fall, Botana added.

A variety of components must be thought-about if the freeze will lengthen past the subsequent tutorial yr, Botana stated. These will embody operational price will increase and the way different non-public faculties deal with their tuition and housing prices. The objective is to make sure that college students get the “high quality, Lyon School expertise, however at an inexpensive fee,” he stated.

However the school has to stay aggressive in its market, he added.

“As a school that serves many first-generation and Pell-eligible college students, price can also be an essential consider retaining college students,” Taverner stated. “It’s extraordinarily essential to us to have sturdy scholarship and monetary support alternatives, excellent tutorial and scholar help providers, and life-changing scholar life experiences with the intention to meet the wants of our present and future college students. “Our objective stays for Lyon School to ship high-quality tutorial choices on the highest confirmed worth.”