North Park Expands 2009 Aid in Response to Recession

Post a Comment » Written on December 22nd, 2008     
Filed under: News
CHICAGO, IL (December 22, 2008) – North Park University announced that it is expanding its financial assistance in August 2009 to first-year and transfer students in response to the current national recession.

The additional funds will also be used to supplement merit- and need-based aid for students with limited ability to fund a private college education, school officials said.

North Park also anticipates making more aid available to students whose families experience a dramatic reduction in income, such as a parent losing a job. These students may file a financial aid appeal through the Financial Aid Office.

“North Park sees this as a time to further invest in students in order to prepare them for the challenges of the future …”

In another step that will benefit new and returning students, the university will not increase its rates for on-campus undergraduate housing for the 2009-2010 academic year. This applies to students living in the university’s four residence halls as well as in university owned apartments and houses.

“The current economic challenges facing the United States and the world were unforeseen four years ago when North Park made the decision to restructure its financial aid,” says Mark Olson, dean of enrollment.

“North Park sees this as a time to further invest in students in order to prepare them for the challenges of the future, when a degree from a quality institution will be more critical for career success and for lives of significance and service,” Olson notes. “This is not a time to pull-back or retrench.”

In 2004, the school became one of the first in the country to drastically cut its tuition. At the same time, it reduced the amount of financial aid given to students. The school did increase assistance for incoming students in 2008.

The restructuring has proved popular. Since 2004, total enrollment has grown by more than 30 percent from 1,420 to 1,882 and has more than doubled in the last 15 years.
North Park’s tuition continues to be nearly $6,000 below the national average for private colleges and universities, Olson says.

Details about first-year and transfer academic scholarships is available on the North Park University undergraduate admission website or by emailing Mark Olson.

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