Saint Mary’s response to the economic situation

We want you to know that Saint Mary’s is keenly aware of the challenging financial situation that unsettled the global economy this fall. We are concerned but confident about the University’s continued financial health. We are more concerned about the impact of economic developments on the families of our students. We’ll have a better sense of this after January, 2009.

Saint Mary’s financial status is stable. We budget conservatively, we invest conservatively, and we live within our means. We are less impacted by the stock market than some other schools because we are tuition-driven and don’t rely on endowment income. Enrollment the past few years has been excellent.

In general, our students still seem to be able to find loans if they need them. We are concerned about individual family situations, and we will work with families who are trying to cover college cost. If your financial situation changes during the school year, you are welcome to contact us to see if you qualify for additional aid.

In the longer-term, higher education is often considered a good investment in difficult financial times, and Saint Mary’s is positioned on the lower end of pricing for Minnesota private universities. We provide an excellent private education at relatively low cost, and we will continue to be as accessible as possible to as many students as possible. More than three-quarters of our students attend here with the benefit of financial assistance.