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Dear Alumni and Friends:
I’m sure you’ve read many articles or heard news reports discussing the value, costs, outcomes, and viability related to having a college education. These are the topics that seem to be concerning most everyone scrutinizing higher education.
What all of us at Loras College should care most deeply about is honoring our mission and delivering the very best faith-based educational experience we can – one Duhawk at a time. Loras uses its available financial resources wisely so that we can demonstrate a return on investment better than most because of our laser focus on students. Consider these facts:
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Job and Graduate School Placement - 93% of our graduates are enrolled in graduate school or employed within six months of graduation. One local institution boasts a higher rate publicly, but privately clarifies on its website that its statistic is derived by only counting survey responses received. At Loras, a graduate who does not reply or can’t be reached is considered one of the 7% defined as “not placed,” even though they may be in graduate school or gainfully employed.
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Cost of Attendance – Over 95% of our students receive some form of financial aid. As such, the average Loras student pays $20,000 a year (tuition, room, board, fees). My daughter attended the University of Iowa last year and the bill was $21,000 (as an in-state student).
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Student Indebtedness – Based on the most recent data available (2010), the average indebtedness of a student graduating from an Iowa public or private college/university is about $30,000. That figure also represents the average indebtedness of a Loras graduate. The $30,000 figure is less than the average of an Iowa State University graduate and less than 18 other Iowa private colleges.
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Pay Back - Over the years and as an industry, private colleges have demonstrated higher graduation rates and a quicker path into the job market. This is especially true at Loras. Thanks to Loras graduates’ high placement, relatively low indebtedness and strong ethics, Loras also boasts one of the lowest loan default rates in the country - 2.8% v. 9.1% nationally.
As you enjoy reading the stories and absorb the statistics we share in the report, you can take comfort in knowing that your alma mater continues to place a premium on a holistic experience that provides extraordinary outcomes at a value added price. We embrace our Catholic, liberal arts and global mission and are able to do so because of a dedicated and talented faculty and staff and support from you.
As you reflect on the influence Loras has had on your lives, recall the many contributions others made to make your education possible, consider the student outcomes we produce and the accolades we receive. I strongly urge your continued or renewed financial support. Our predecessors assumed we would always respond to the call of our alma mater and our successors and students depend on it.
Pro Deo et Patria – For God and Country!
James E. Collins (’84)
President
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