Doing this requires ensuring student access through need- based financial aid, and hiring and retaining top-notch faculty and staff.
For most of our students, paying for a college education is a real challenge. Twenty percent of our students will be the first in their family to earn a college degree – consistent with our mission and a point of pride for Loras. However, the income of the typical family of a Loras student has stagnated or declined during the last decade. In fact, Loras families have incomes that are less than the families of students attending public universities in Iowa. This means that our students and their families make a significant financial sacrifice to receive the kind of education Loras delivers.
We are proud of our caring and dedicated faculty. We need your support to increase their compensation so that
Loras College can compete when attracting and retaining great instructors, and to ensure dynamic teaching careers.
Today, 83% of our students require some form of need-based assistance.
As a result, student aid is the secondlargest component of our annual budget, totaling almost $20 million this year. While many colleges are able to rely on payout from their endowments to cover most of the cost of student financial aid, the Loras endowment covers less than five percent of financial aid granted to our students.
– The current average annual salary of a full-time, tenured Loras faculty member is $58,351. The national average is $74,870.
– Loras instructors fresh out of graduate school typically receive $40,275, compared to a U.S. average of $55,455.