Cost of Attendance and Financial Aid
Tuition at Saint Benedict and Saint John's has risen faster than the average for all of Minnesota's private colleges in the last ten years, though it remains lower than both peer and aspirant liberal arts colleges. Since 2004-2005, tuition and fees (before financial aid) at CSB/SJU have risen by approximately 78%.
In 2012-2013, more than three-quarters of all CSB and SJU students applied for need-based financial aid. The number of students applying for need-based aid has increased at both CSB and SJU in the last four years. In 2012-2013, the average student seeking need-based financial aid was able to pay 36% of the total cost of attendance (inclusive of tuition, fees, room, board, and expenses) at CSB and 39% of the total cost of attendance at SJU. The percentage of the total cost of attendance students have been able to pay has declined slightly over the last 3 years at both CSB and SJU.
In fiscal year 2012, CSB/SJU students received nearly $110 million in financial aid, including grants, loans, and work-study. Total financial aid awarded has more than doubled since 2002. Institutionally-awarded grant aid is the single largest source of assistance for Saint Benedict and Saint John's students, totaling more than $60 million in fiscal year 2012, and representing nearly 60% of all financial aid awarded. Ten years earlier, institutional grants comprised only 49% of all aid received by Saint Benedict and Saint John's students. Together, institutional grants and student loans account for 83% of all financial aid awarded to CSB and SJU students (FY 2012).
Revenues and Expenditures
Like most other private colleges, Saint Benedict and Saint John's receive the majority of their operating income from student tuition. Tuition typically represents about 70% of budgeted operating income each year. Even though financial aid spending has increased significantly, both CSB and SJU have experienced substantial increases in net tuition revenue in the last decade. Between FY 2008 and FY 2013, total net tuition revenue per student at the colleges grew by 19%.