College cuts tuition
A local college is restructuring its undergraduate tuition pricing, beginning in 2018.
Cornerstone University said yesterday it will freeze tuition for returning students for one year, extend its block tuition from 17 to 18 credits and reduce its tuition “sticker price” from $27,520 to $24,500, beginning in January.
”We are constantly looking for ways to reduce costs to our students, while preserving a sustainable, high-quality academic experience in an educational environment where our students can grow and flourish, both professionally and personally,” said Joe Stowell, president, Cornerstone University.
“Our goal is to help more students have access to market-relevant degrees that lead to meaningful careers, as seen currently through our above-average job-placement rates.”
Cornerstone said 93 percent of its 2016 traditional undergraduate students were employed or in graduate school within six months of graduation.
Expansion of block tuition
Up until now, the university has charged students a set price for a block of 12-17 academic credit hours. The restructuring will expand the block to 12-18 credit hours for the same price. The change, effective in January, will save students who take an 18th credit hour $700 per semester and up to $1,400 per academic year.
One-year tuition freeze for returning students
Instead of the annual tuition increase that students normally pay, net tuition for returning students in the 2018-19 school year will remain the same.
Reduction in the tuition “sticker” price
Starting with the fall 2018 semester, pricing for the academic year will be re-set from the 2017-18 tuition “sticker” price of $27,520 to $24,500 for 2018-19.
The sticker price refers to the published cost, compared to the net price, which is what students actually pay after scholarships, grants and financial aid.
The tuition restructuring occurs in the midst of Cornerstone launching new nursing and engineering program partnerships this academic year with the University of Detroit-Mercy and Grand Valley State University.
In October, the university will also break ground on a new $15.5-million science and technology center.
Founded in 1941, Cornerstone University is a non-denominational Christian liberal arts school in Grand Rapids.
The school has undergraduate and graduate programs, two seminaries — Grand Rapids Theological Seminary and Asia Baptist Theological Seminary based in Chiang Mai, Thailand — and a radio division called Cornerstone University Radio, or 91.3 WCSG.