Wittenberg University - Update In Response to National Economic Situation

Update In Response to National Economic Situation red bar

Wittenberg University President Mark Erickson discusses the challenging economic reality the university, and all of us, now face.

President Erickson was recently interviewed by The Chronicle of Higher Education along with three other private liberal arts college presidents about the present financial crisis. Watch the interview.
Admission recommendations by alumni for qualified prospective students are one way to ensure a solid financial position. All recommendations will be acknowledged with an application fee waiver. Recommend a prospective student.
Gifts to our annual fund – The Wittenberg Fund – make a profound difference in the lives of our students and their families, especially during this difficult time. Make a gift.

Three sources of revenue ensure the financial strength and long-term success of our university: tuition and fees, endowment and annual fund support. A strong annual giving program – current unrestricted support through The Wittenberg Fund – represents the difference between just “getting by” versus being able to seize opportunities to ensure excellence. It allows us to support student scholarships, faculty development and innovative initiatives.

Tuition and fees provide the greatest revenue toward our annual budget. With the cost of tuition just north of $30,000, many may imagine that we are awash in tuition dollars. This is clearly not the case. Wittenberg resides in arguably the most competitive liberal arts college market in the country, and like our closest competitors, we provide generous financial aid to enhance access and attract top students. Consequently, the average net tuition per student is closer to $15,000.

Our endowment presently stands at $96 million, down from $119 million four months ago. Thankfully, we have a very talented and active Investment Subcommittee of our Board of Directors that has managed our allocation strategies in a manner that has (so far) moderated the impact of these changes for Wittenberg. Nonetheless, the larger the endowment, the more a school can provide annual support for faculty and programs, so we continue to monitor the state of our endowment closely.