Editorial | Budgeting for students

Positive news has been few and far between when it comes to finances these days. Therefore, it's heartening to hear that Penn administrators have worked hard to keep the necessary tuition and board increases as low as possible.

This year, Penn tuition will rise 3.75 percent, while total student costs (which include room and board) will increase 3.8 percent. According to the Department of Labor, the Consumer Price Index, a widely accepted measure of inflation, also increased 3.8 percent over 2008. And because inflation for the coming year is expected to be lower due to the economy, the move to keep tuition lower is a step in the right direction in terms of making Penn affordable to families.

But more importantly for students and families, these incremental increases - the lowest in 41 years - show the awareness that Penn has of the financial pressures faced by Penn students and families. While the University is experiencing its own form of intense financial pressure - the endowment's value declined 19 percent in the second half of 2008 - families with smaller pocketbooks than the University's are struggling on a much more base level, and Penn's decision shows great cognizance and sensitivity to this fact.

And while President Amy Gutmann and other high-ranking administrators have been reassuring students and families for months that the planned increases in financial aid would continue despite the economic turmoil, it's nice to have had this affirmed last week. The increases were a priority before the stock market started to decline, and are all but necessary now. While these measures are not reasons to hope for a quick end to the current situation, it's certainly a reason to smile.

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