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Smith spends approximately $9 million annually
on study abroad programs, including the college’s four programs in Europe,
consortium programs, and independent programs offered by other institutions. In recent
years, the level of students studying abroad annually has been about 430 student
semesters or 215 full-time-equivalent students. The cost of study abroad programs
has spiked dramatically. The changing cost structure has made this a critical area
for review, presenting the challenge of identifying savings while continuing Smith’s
strong commitment to a global education.
To achieve savings in study abroad costs, the plan calls
for:
- Capturing savings from lower inflation rates and more favorable exchange rates
in the 2009-10 budget, in accordance with recent trends
- Controlling costs of non-Smith programs through strategies that include directly
enrolling students in the United Kingdom, Ireland, Australia and New Zealand, eliminating
the requirement that students apply for study there through other American universities;
scrutinizing more rigorously study abroad applications for their quality and relevance
to the student’s academic program; re-evaluating approved programs, seeking
programs of equal or better quality at a lower price; and limiting participation
in year-long programs in English-speaking countries
- Reducing operating expenses for Smith’s four Junior Year Abroad programs,
including such changes as discontinuing the lease of an under-utilized room in
Paris and seeking a more reasonably priced location in Florence when our lease
expires
- Discontinuing cost-of-living allowances for faculty directors.
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Message from
the President
Introduction
Employee
Compensation
Student-to-Faculty
Ratio
Comprehensive
Fee
Revenue
Facilites & Utilities
Study
Abroad
Libraries &
Information
Technology
Services
Administrative,
Student & Academic Support
Revenue
Generation
Investment
Required
Appendix
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