DePaul University: Finance

Howard HeevnerRyan Service

Edward Smith

DePaul University DePaul University Mission StatementMission Statement

This mission statement embodies the principal purposes of DePaul University. As such it is the nexus between past, present and future; the criterion against which plans are formulated and major decisions made; the bond which unites faculty, students, staff, alumni, and trustees as an academic community. As a university, DePaul pursues the preservation, enrichment, and transmission of knowledge and culture across a broad scope of academic disciplines. It treasures its deep roots in the wisdom nourished in Catholic universities from medieval times. The principal distinguishing marks of the university are its Catholic, Vincentian, and urban character.

DePaul UniversityDePaul UniversityFacts Facts

Located in Chicago, IL

Metropolitan, Lincoln Park, Downtown, 4 suburban locations

Based quarter system

Founded 1898; was the little school under the ‘el’

Vincentian Order of the Catholic Church

882 full time faculty members; 700 part time faculty members

Largest Catholic University

10th largest private university

Princeton Review #1 diverse student population

World Report #1 in undergraduate student satisfaction with college experience (2004)

DePaul UniversityDePaul UniversityDemographicsDemographics

One–third student population are students of color

One–fourth of incoming first year students class qualify for pell assistance in 2007

Roughly 30% of incoming first year students are first generation students

55% of students women

DePaul UniversityDePaul UniversityDemographics (cont.)Demographics (cont.)

15,024 undergrad students

7,353 graduate students

1,024 law school students

Member of the Big East Athletic Association

Commerce, Law, Liberal Arts and Sciences, Computer Technology and Information, Communication, New Learning, Education, Music, Theatre

362nd for total cost of attendance

369th faculty compensation

DePaul UniversityDePaul UniversityTuition increasesTuition increases

Full time undergraduate tuition

27% increase between ‘03 and ‘07

2003 $18,810

2004 $19,760

2005 $20,960

2006 $22,440

2007 $23,895

DePaul University DePaul University Financial AidFinancial Aid

Average % of Attendees

Federal Grant Aid

$3,724 26%

State & Local Grant Aid

$3,864 38%

Institutional Grant Aid

$8,784 68%

Student Loan Aid

$4,645 53%

Any financial aid type

80%

DePaul University DePaul University Financial Aid (cont.)Financial Aid (cont.)Federal State of

IllinoisThe

UniversityOther Total

2003 $141,043,000 $18,889,000 $60,943,000 $17,984,000 $238,859,000

2004 $154,671,000 $18,274,000 $71,241,000 $26,648,000 $270,834,000

2005 $157,878,000 $17,755,000 $77,472,000 $31,434,000 $284,539,000

2006 $158,533,000 $17,001,000 $80,110,000 $36,449,000 $292,093,000

2007 $172,124,000 $19,377,000 $85,011,000 $31,969,000 $308,481,000

DePaul University DePaul University National TrendsNational Trends

Who pays for higher education and how we pay Student- Tuition (increase of 145% from 1980-2003 vs. income

at 23%) Student Aid-Loans, grants, work study

Loans makes up over 69% of student federal aid 1990-2000 Tuition increases showing shift from tax payers

funding higher education to students Private university tuition up 77% Public university tuition up 84%

Parents-Tuition assistance to students State and Federal Government-Taxes, accountability, decreases

in funding, “budget balancer” Tax breaks for students and institutions Direct Funding Student Aid R and D

DePaul University DePaul University National Trends (cont.)National Trends (cont.) Private donations

Corporate research partnerships

Overall Revenue Sources for both Public and Private Institutions

35%-State Government

16%-Federal Government

38% -tuition and fees

11%-other sources (corporate partnerships, donations)

DePaul UniversityDePaul UniversityRecommendationsRecommendations

Plank V of 2012 Strategic Plan is Strengthen Financial Position – we think this is good

With DePaul’s students reliance on student loans increasing financial aid support from private sources needs to increase

Increase collaboration with other Chicago institutions

Continue to support the mission and not let financial hardships deter that support

Exploit marketing opportunities within their niche populations and not deviate from what made them DePaul

DePaul UniversityDePaul UniversityReferencesReferences

About DePaul . (2008). Retrieved December 4, 2008 from, http://www.depaul.edu/about/index.asp

DePaul Univeristy. (2008). Retrieved December 4, 2008 from, http://www.stateuniversity.com/universities/IL/DePaul_University.html

Gladieux, L. E., King, J. E, & Corrigan, M. E (2005). The federal government and higher education. In P. G. Altbach, R. O. Berdahl, & P. J Gumport (Eds.), American higher education in the twenty-first century. (2nd ed., pp. 163-197). Baltimore: The Johns Hopkins University Press.

Johnstone, D. B. (2005). Financing higher education: Who should pay? In P. G. Altbach, R. O. Berdahl, & P. J Gumport (Eds.), American higher education in the twenty-first century. (2nd ed., pp. 369-392). Baltimore: The Johns Hopkins University Press.

McGuinness,Jr., A.C. (2005). The States and Higher Education. In P. Altbach, R. Berdahl & P. Gumport (Eds.), American Higher Education in the Twenty-First Century (2nd ed., pp. 198–225). Baltimore: The Johns Hopkins University Press.

DePaul UniversityDePaul UniversityQuestions?