Dean Shearer moved that the College Council charge the Admissions and Financial Aid Committee with the responsibility of reconsidering and reporting on strategies for improving the College’s financial aid position, to assure the College’s multiple objectives of diversity, academic quality, and financial stability.
The Committee would be an ad hoc Council subcommittee, and Dean Shearer recommended expanding committee membership with the addition of two Council members. The committee would report back to the Council by Spring Term to have time for discussion of possible options and recommendations, to come to some decision before the end of the academic year on whether the College will remain at the status quo or implement some change. He said it will be difficult to manage feasible growth for the next budget/academic year without some sort of resolution or change in place. He commented on a few possible options available for consideration, which are included in the three- page memo, adding that only subtle change may be needed and that change need not come at the expense of diversity. He noted that without some adjustments in financial aid costs, everything else in the budget will have to be adjusted to fund the increasing costs, to the potential detriment of the College. He urged the Council to ask the Committee to objectively revisit the issues again. The process may include various sessions or forums for the campus.
Passed by unanimous voice vote.