College Financials

By The Mac Weekly

With economic greenshoots perhaps beginning to blossom into something more substantial – as evidenced by the 6.4% increase in U.S. GDP in the 4th quarter of 2009 – we would like to again commend the Macalester administration for their handling of the economic crisis. According to budget presentations by Vice President David Wheaton, the endowment has rebounded from the worst point during the recession and the 2010-11 budget represents an increase over the current 2009-10 budget. Such a sign is promising and shows the administration has done well by building sustainable budgets.Over the course of this recession, the college’s endowment fell over $200 million. To return to such promising levels demonstrates the strong leadership of Craig Aase ’70 and David Wheaton. In comparison to other institutions, Macalester was ahead of the field in minimizing losses to its endowment.

Despite this, we do want to articulate our continued concern over the rising cost of tuition – next year expected to rise more than four percent to just under $50,000. This number outpaces consumer price increases and wages from the past year and will continue to be a burden on students attending this institution.

The opinions expressed above are those of The Mac Weekly, as determined by the staff. The perspectives are not representative of Macalester College.