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St. John’s College wins 2019 Dive Award for change in financial model

Capital Gazette

December 11, 2019

 

The strategy at St. John’s College to cut tuition was recognized Monday by the Education Dive website, which named it the “4-Year College of the Year.”

The liberal arts school lowered tuition by $17,000, starting this academic year. The college turned to a $300 million philanthropic approach to provide support for administrative spending. Despite the possible risk, the school received support from the community, said Panayiotis Kanelos, Annapolis campus president.

“College leadership knew that reducing our tuition by a third involved significant risk. However, the trust in this course forward from all of our community — our faculty, staff, students, alumni, and donors — has been shown to be well-placed,” Kanelos said in a statement.

“Record application numbers from academically strong students is part of the proof that we’ve done the right thing, and done it correctly.”

In 2018, the school announced that tuition would go from $51,200 to $35,000 for the start of the 2019 academic school year. Education Drive reported that the college has made more than $200 million in donations and “is on track to eliminate its deficit by 2021.”

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