Collegiate School plans to increase tuition 6.5 percent. (Photos by Brandy Brubaker)
Tuition hikes are on the horizon for some of Richmond’s priciest private schools.
The area’s four largest private schools will raise tuition by anywhere from a few hundred dollars to a little more than $1,000 for the 2014-15 school year, officials said.
Collegiate School, the area’s largest private school by enrollment, leads the pack with a planned 6.5 percent all-around tuition increase for the coming year.
Head of School Keith Evans said the hike was necessary to keep faculty salaries competitive with other schools.
“We’ve been pretty conservative with what we’ve done with tuition and also pretty conservative with what we’ve done with compensation for faculty,” Evans said. “We got a little behind with competitive salaries for faculty. It’s really important to us to have great teachers and to keep them here and also to recruit great faculty.”
This year’s tuition at Collegiate School ranges from $18,880 to $22,170, depending on grade level, according to BizSense’s annual ranking of private schools. The increase will bump tuition to about $20,107 to $23,611.
Enrollment at the West End school at 103 N. Mooreland Road was 1,600 for the 2013-14 school year.
The Steward School at 11600 Gayton Road will increase its tuition by just under 4 percent for the coming school year.
Spokeswoman Lori Jobe said the increase is determined using conservative projections that focus on what the school needs most.
“For example, of the tuition increase, 99 percent will go to salaries, coach stipends, benefits, professional development, and instructional and technology expenses, all of which directly benefit students, faculty and staff,” Jobe said in email.
This year’s rates at the Steward School range from $9,100 for half-day junior kindergarten to $21,110 for grades 9-12. In the fall, that range will become $9,460 to $21,950. It has 627 students enrolled this year, making it the area’s fourth largest private school.
St. Catherine’s School, an all-girls school at 6001 Grove Ave.
The cost to send a student to St. Catherine’s School, an all-girls school at 6001 Grove Ave., will go up by about 2.8 to 3.64 percent, depending on the grade level.
This year’s tuition ranges from $16,045 to $23,350, the school said. Next year’s will be $16,500 to $24,200. With 950 students, St. Catherine’s is the third largest local private school.
It said the increase is necessary to retain and attract the best educators and to provide “the most comprehensive and challenging academic, arts and athletics programs.”
CFO/COO Peter Pastore said St. Catherine’s takes financial responsibility seriously.
“We diligently tackle cost control in every way possible, focusing on areas that do not compromise our rigorous academic programs,” Pastore said in an email. “No cost is too small to investigate, from replacing printers with highly efficient models to hedging natural gas usage. As part of renewing annual contracts with vendors, we expect them to come to the table with cost-cutting plans.”
St. Christopher’s School is an all-boys school at 711 St. Christopher’s Road.
St. Christopher’s School, the area’s second largest private school, also has a tuition increase on tap for next year, spokesman Stephen Lewis said.
The all-boys school at 711 St. Christopher’s Road will increase tuition between about 2.3 and 3.47 percent, depending on grade level.
Tuition for the current school year ranges from $17,575 to $23,750. Tuition next year will be $17,975 to $24,575. It has 965 students enrolled.
“These additional resources are important in helping us to compensate our faculty and staff competitively, to support their ongoing professional development, and to bring new program enhancements to life,” Lewis said.
He said the school relies heavily on endowment funds, which help to cover operational expenses for Luck Leadership Center and to develop the new surface for Knowles Field.
A representative of the area’s fifth largest private school, Trinity Episcopal School, said it has not set tuition for next school year. This year, tuition is $20,580 for its 475 students.
Private schools are big business in Richmond. The five largest schools alone brought in more than $100 million in tuition and donations combined in 2011, according to the most recent data available from nonprofit tracker Guidestar.
In 2013, many of the top local private schools reported that enrollment and donations were reaching their highest levels in years. That fueled construction projects at several of the schools, including St. Catherine’s, St. Christopher’s, the Collegiate School and the Steward School.
Collegiate School plans to increase tuition 6.5 percent. (Photos by Brandy Brubaker)
Tuition hikes are on the horizon for some of Richmond’s priciest private schools.
The area’s four largest private schools will raise tuition by anywhere from a few hundred dollars to a little more than $1,000 for the 2014-15 school year, officials said.
Collegiate School, the area’s largest private school by enrollment, leads the pack with a planned 6.5 percent all-around tuition increase for the coming year.
Head of School Keith Evans said the hike was necessary to keep faculty salaries competitive with other schools.
“We’ve been pretty conservative with what we’ve done with tuition and also pretty conservative with what we’ve done with compensation for faculty,” Evans said. “We got a little behind with competitive salaries for faculty. It’s really important to us to have great teachers and to keep them here and also to recruit great faculty.”
This year’s tuition at Collegiate School ranges from $18,880 to $22,170, depending on grade level, according to BizSense’s annual ranking of private schools. The increase will bump tuition to about $20,107 to $23,611.
Enrollment at the West End school at 103 N. Mooreland Road was 1,600 for the 2013-14 school year.
The Steward School at 11600 Gayton Road will increase its tuition by just under 4 percent for the coming school year.
Spokeswoman Lori Jobe said the increase is determined using conservative projections that focus on what the school needs most.
“For example, of the tuition increase, 99 percent will go to salaries, coach stipends, benefits, professional development, and instructional and technology expenses, all of which directly benefit students, faculty and staff,” Jobe said in email.
This year’s rates at the Steward School range from $9,100 for half-day junior kindergarten to $21,110 for grades 9-12. In the fall, that range will become $9,460 to $21,950. It has 627 students enrolled this year, making it the area’s fourth largest private school.
St. Catherine’s School, an all-girls school at 6001 Grove Ave.
The cost to send a student to St. Catherine’s School, an all-girls school at 6001 Grove Ave., will go up by about 2.8 to 3.64 percent, depending on the grade level.
This year’s tuition ranges from $16,045 to $23,350, the school said. Next year’s will be $16,500 to $24,200. With 950 students, St. Catherine’s is the third largest local private school.
It said the increase is necessary to retain and attract the best educators and to provide “the most comprehensive and challenging academic, arts and athletics programs.”
CFO/COO Peter Pastore said St. Catherine’s takes financial responsibility seriously.
“We diligently tackle cost control in every way possible, focusing on areas that do not compromise our rigorous academic programs,” Pastore said in an email. “No cost is too small to investigate, from replacing printers with highly efficient models to hedging natural gas usage. As part of renewing annual contracts with vendors, we expect them to come to the table with cost-cutting plans.”
St. Christopher’s School is an all-boys school at 711 St. Christopher’s Road.
St. Christopher’s School, the area’s second largest private school, also has a tuition increase on tap for next year, spokesman Stephen Lewis said.
The all-boys school at 711 St. Christopher’s Road will increase tuition between about 2.3 and 3.47 percent, depending on grade level.
Tuition for the current school year ranges from $17,575 to $23,750. Tuition next year will be $17,975 to $24,575. It has 965 students enrolled.
“These additional resources are important in helping us to compensate our faculty and staff competitively, to support their ongoing professional development, and to bring new program enhancements to life,” Lewis said.
He said the school relies heavily on endowment funds, which help to cover operational expenses for Luck Leadership Center and to develop the new surface for Knowles Field.
A representative of the area’s fifth largest private school, Trinity Episcopal School, said it has not set tuition for next school year. This year, tuition is $20,580 for its 475 students.
Private schools are big business in Richmond. The five largest schools alone brought in more than $100 million in tuition and donations combined in 2011, according to the most recent data available from nonprofit tracker Guidestar.
In 2013, many of the top local private schools reported that enrollment and donations were reaching their highest levels in years. That fueled construction projects at several of the schools, including St. Catherine’s, St. Christopher’s, the Collegiate School and the Steward School.