Over the past year, Hawaii Pacific University has seen a 10 percent decrease in their enrollment, from 7,463 students to approximately 6,700 students for this coming fall. While this decrease is similar to that seen in private colleges around the country, this decreased commission will mean that Hawaii Pacific University will have to reduce the number of faculty positions and reduce employee benefits. Tentatively, 18 of HPU's 250 full-time faculty members will not have their contracts renewed. There will also be a reduction in the employer contribution to retirement plans and decrease in tuition waiver benefits for full-time employees and their dependents. Janet Kloenhamer, the executive vice president for administration and general council, stated, "Guided by our strategic plan, HPU is forging a path to deliver the highest quality of education, with increased services, programming and spaces, both efficiently and cost-effectively. Unlike public universities that receive state funding, HPU's operating budget is largely from tuition dollars and private gifts. The realignment of existing resources is necessary to make long-term investments to ensure that HPU becomes an even better, stronger university."
According to their IRS tax filing, Hawaii Pacific University earned $101.6 million in revenue, out of which $96.5 million came from tuition and fees. HPU also provided about $20 million a year in scholarships. Full-time undergraduate tuition for the 2014-2015 school year is $20,930.
Source: Honolulu Star Advertiser, 5-24-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
