The change in the comprehensive fee from last year's cost of $38,940 represents an increase of 5.2 percent, according to Treasurer Peter Shea. He explained that the College's expenses increase more rapidly than inflation. "Unfortunately, every year our costs increases at a rate greater than inflation," he said.
The College has many substantial expenses, including financial aid, salaries and staff health care. Shea also mentioned the rising cost of fuel as one of the causes of the College's increased expenses. The College strives to provide the same level of service and benefits even with the rising cost of goods. "In order to provide the same level of health care for all employees, purchase new library books and give faculty and staff meaningful raises, [the fee increase is necessary,]" Shea explained.
In his letter, Marx emphasized that the College actually spends considerably more annually on each student than is reflected in the comprehensive fee, and that many students receive financial aid and do not pay the total comprehensive fee. "Half of our students do not pay the full annual comprehensive fee," Marx wrote in the letter. "Since the actual cost of an Amherst education is approximately $70,00 per student per year, even students who do pay the full comprehensive fee are subsidized by the College by about 42 percent."
The money the College uses to subsidize students' educational costs comes from "our endowment and the generosity of past Amherst generations, as well as current gifts from alumni, parents and friends," wrote Marx.
This year's 5.2 fee increase in not unprecedented; in fact, it is the same percentage increase as the increase between the 2003-04 and 2004-05 academic years.
Students in the class of 2005 paid $33,860 in comprehensive fees for their first years. Between their first and last years, the comprehensive fee increased by $7,120.