WHAS11 coverage

(WHAS11) - With a little less than a month before classes begin, universities across our area are seeing record breaking enrollment.  College tuition in this area ranges from a few thousand dollars to more than $30-thousand per year - including room and board.

So how is it that in a stagnant economy the story on college campuses is growth?

Prospective students touring Bellarmine University today saw new classrooms and residence halls under construction. 

While Bellarmine planned for this growth, a down economy is believed to be encouraging it too. 

“I think people look at it as a long term investment,” Bellarmine Vice-President Fred Rhodes explained, “And, they look not just in the short term, the economy right now needs to shift in a positive direction, but they look at investment and what they are doing and education is the best investment you can have.”

Bellarmine’s incoming freshman class is a record 600 students - a five percent increase over last year’s record.  While Bellarmine was traditionally a commuter college, up to 40% of new students are from out of state. 

By tradition, The University of Louisville is also thought of as a commuter school, but a private company is adding more housing for students just north of campus at the site of the American Standard Building, and 65% of incoming freshman will live on campus this year.

U of L estimates an enrollment of 22,000 this fall, including a record 2600 incoming freshman, 200 more than last year.  In fact, enrollment is now closed for the freshman class, so if U of L was your fallback, or less expensive option, you might be out of luck.

One option could be Indiana University Southeast in New Albany—which for the first time has housing on campus in five lodges featuring full apartments.

“Of course the truth is we have 6000 students and 400 beds so we’re still a commuter campus,” said Jenny Johnson Wolf of IU-Southeast.

“And for those students who where gas prices are going to have an impact and they want to maybe borrow less to go to school but still get a quality degree, we become a very appealing option,” Wolf told WHAS11’s Joe Arnold.

The economy might be affecting the timing of students’ decisions.

“Students are applying to more than one institution, nationwide,” Wolf elaborated.  “In fact, they are applying to more than three institutions nationwide and they are choosing at the last minute which university to call home.”

I-U southeast won’t know enrollment totals until classes start, but freshman applications are up 23%, with a total enrollment of 6400 this semester.

The economy hasn’t hurt Sullivan University in Louisville, which forecasts up to a ten percent increase in enrollment.

While Spalding University says their “daytime transfer student” numbers are down, their freshman class is up 18 percent over last year.

In Lexington, a University of Kentucky spokesman says U-K will not release specific numbers until September, but that applications, acceptance and enrollment are all up over last year and “trending strong.”

It’s not just traditional age students.  At Bellarmine, they are seeing a record number of students returning to school, changing careers and furthering their education.

“People want to invest in something instead of just being stagnant,” Dr. Rhodes said, “If they are unemployed or are in a tough financial situation, they’re going to look to ‘how can I get of this? How can I move forward?’ and one of the best investments is education.”

Meanwhile, earlier this summer—the main lender for student loans in Kentucky had to suspend approving loans because of the national credit crisis.

But, U of L’s Financial Aid Director says the student loan crisis is over and those loans are again available.  In fact, the amount of money students can borrow has increased since last year.