QUESTION #16: CAN YOU EXPLAIN AGAIN WHAT THE TUITION DISCOUNT RATE IS? I CAN NEVER KEEP STRAIGHT WHETHER "IMPROVING" THIS NUMBER MEANS MAKING IT HIGHER OR LOWER....
The tuition discount rate is the Grinnell College-awarded scholarships and grants pool divided by our total tuition and mandatory fees (room and board are excluded). That is, the discount rate is the Grinnell College-awarded scholarships and grants pool as a percentage of total tuition and mandatory fees. "Improving" the discount rate means either spending less on scholarships and grants (which we are NOT doing) or generating additional net tuition and fees. Thus, a lower discount rate allows us to increase expenditures for high priority budget requests. All students will benefit if the College can lower its discount rate while continuing to meet full-demonstrated need for financial aid.
As of next year, due to the change in how we charge for off-campus study, discussed in Question #14, the methodology for calculating our discount rate will change. Under the "old" methodology (which excluded the tuition and fees charged for non-Grinnell off-campus programs), next year's discount rate would have been 50%. Under the new methodology, which will now include tuition and fees from students studying off-campus, the discount rate will be 48%. This "new" discount rate is represented in the tuition and fees pie chart in Question #2. Going forward, the discount rate will be computed using the new pricing for off-campus study.
