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Press Release
Naropa University Increases Financial Aid by $1 Million
Also Concludes Master Lease Agreement to Offer Additional
Student Housing
BOULDER, Colo. (March 15, 2005)—Naropa University today announced that its
board of trustees has approved increasing financial aid funding by $1 million
for the 2005-06 academic year, an increase of 60 percent in the university's
financial aid budget to a total of $2.8 million, in order to provide significantly
increased financial aid for Naropa University's neediest students. The board
of trustees also approved the conclusion of a master lease agreement for consolidated
housing that will expand significantly Naropa University's student housing
capabilities for first-time freshmen.
Both increased financial aid and additional housing resources are ongoing
university priorities in order to support Naropa University's growing undergraduate
population. Undergraduate enrollment has increased by 8.6 percent over the
past two years and by 37.7 percent since Naropa began offering four-year bachelor
degree programs in 1998. The number of first time freshmen has mirrored this
growth, increasing by 64 percent between 1999 and 2004.
Naropa University President Thomas B. Coburn said "In listening to our
students, it became clear that financial challenges were the major impediment
to their fullest engagement with their studies. Increased financial assistance
and housing resources will relieve the stress of students' daily lives, reducing
their dependence on outside employment and affording them greater opportunity
to focus more fully on our unique education. I am particularly pleased that
virtually all of our financial aid will continue to be based on the financial
need of students and their families."
The increased level of financial aid for undergraduates will raise Naropa
University's tuition discount for neediest students to approximately 30 percent,
a level that is comparable to similar private liberal arts colleges. It is
anticipated that this level of increased funding for financial aid will be
ongoing in subsequent years. Currently 70 percent of full time Naropa students
(undergraduate and graduate) receive financial aid. All of the additional $1
million in aid will be allocated for need-based awards.
The master lease agreement for consolidated housing is part of a multi-year
plan to enhance Naropa University's ability to offer more housing options to
Naropa students. It is anticipated that additional student housing resources
will be added in subsequent years.
Accredited by the North Central Association of Colleges and Schools, Naropa
University is a private, non-profit, non-sectarian liberal arts institution
dedicated to advancing contemplative education. Contemplative education is
an approach to learning that integrates the best of Eastern and Western educational
traditions, helping students know themselves more deeply and engage constructively
with others. The university comprises a four-year undergraduate college and
graduate programs in the arts, education, environmental studies, psychology,
religious studies, and creation spirituality. It offers BA, BFA, MA, MFA, MDiv
and MLA degrees, as well as professional development training and classes for
the community. In addition, the university runs study abroad programs in Sikkim,
India and Prague, Czech Republic.
Contact
Sigrid Badinelli
Director, Marketing & Communications
Naropa University
303-245-4822
sigrid@naropa.edu
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