June 22, 2024
Finance

UD outlines financial pressures for Joint Finance Committee | The Latest from WDEL News


Higher costs are facing higher education, and that’s leading to unpleasant choices at the University of Delaware.

UD is one institution of higher learning that receives funding in the state budget. President Dr. Dennis Assanis appeared this week before the General Assembly’s Joint Finance Committee, which is reviewing Governor John Carney’s budget proposal for Fiscal Year 2025.

Assanis said the University of Delaware wants to become an even more attractive place for potential students, and hopes to see an increase in admissions of applicants from Delaware. UD hopes to grow the First State Promise Program that helps families pay for higher education and encourages Delawareans to stay in the state. Also, the university wants to continue developing the DSU-UD Dual Degree Program.

However, Assanis said the University of Delaware is looking for relief from rapidly escalating healthcare costs.

“Higher personnel costs especially for healthcare have made it more expensive for UD to attract and retain the excellent faculty and staff members who are essential to providing our students with great educational opportunities,” Assanis said.

Assanis added that the University of Delaware is dealing with other financial pressures: higher costs for goods and services, a commitment to paying prevailing wage on capital projects, and attempting to keep tuition and costs affordable. Assanis said some capital projects are being put on pause, but deferring projects raises costs in the future.

“We’re going to take significant measures, ranging from freezing hirings to spending on any kind of discretionary things…. but, at the same time, we need your help,” Assanis told JFC members.

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