St. Mary's College of Maryland (SMCM) Board of Trustees voted on May 10 to keep tuition and mandatory fees unchanged for the fifth consecutive year, while approving a slight increase in room and board rates for the 2024-25 academic year.
Despite national enrollment uncertainties due to issues with the revised Free Application for Federal Student Aid (FAFSA) rollout by the Department of Education, SMCM President Tuajuanda C. Jordan, PhD, stated that the college remains in a strong financial position.
"Fortunately, the long-term tuition strategy we put in place several years ago allows us to continue to hold the line on tuition increases," Jordan said.
In contrast to SMCM, all 11 of the college's peer institutions raised tuition and mandatory fees last year by an average of 3.3%. SMCM's tuition is lower than it was in the 2013-2014 academic year, a difference amplified by inflation of more than 30% over that period. The approved 3.9% increase in room and board rates reflects rising costs of goods and services and the increase in Maryland's minimum wage.
The meeting marked the last for outgoing Chair Susan L. Dyer, who completed her maximum three-year term. Dyer, a commercial real estate developer and managing partner of an upscale restaurant in Leonardtown, Maryland, has over 30 years of experience in information technology strategy and development.
"It has been my absolute pleasure to serve as chair of this outstanding Board of Trustees and our equally amazing faculty and exceptional staff," Dyer said. "Under the tremendous vision and leadership of President Jordan, we have consistently focused on determining the best outcomes for our students, which truly reflects the heart of this institution."
Under Dyer's leadership, the Board maintained the tuition freeze, approved new academic majors, endorsed the three-year Rising Tide strategic plan, and upgraded the college's credit rating.
John Bell, a 1995 SMCM graduate and managing director for Wells Fargo Corporate & Investment Bank, will succeed Dyer as chair. Bell is the first alumnus to chair the Board of Trustees. Other board officers—Vice Chair Paula Collins, Treasurer John C. Wobensmith SMCM '93, and Secretary Nicolas Abrams SMCM '99—will continue in their roles.
In other developments, President Jordan announced her decision to retire in June 2025. The college's Taking the LEAD fundraising campaign will transition to the How High Can We Fly phase for its final year, having surpassed its initial $20 million goal ahead of schedule.
The Board also approved the 2024-25 meeting calendar, the awarding of degrees to the Class of 2024, a new attendance policy, a diversity report, the FY26-FY30 state capital budget proposal, and an authority and responsibility matrix. Additionally, updates on the Middle States Reaffirmation of Accreditation self-study were provided.
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