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Financial Summary

Balancing Quality and Cost

A Calvin education is excellent because it is all-embracing. Our students investigate deeply, engage complexities, expand their hearts, sustain the campus community, and extend the college's redemptive reach into the world. Calvin educates the whole person. And we offer this education to a wide pool of students—by keeping it affordable.

At the core of the Calvin educational experience is academic rigor. In addition to almost 100 academic options, the college offers university-caliber research opportunities. This year, for example, the Merck Company Foundation and the American Association for the Advancement of Science awarded the college with a three-year, $60,000 grant that will enable 15 student-professor teams to conduct interdisciplinary research in biology and chemistry.

Valuable internships, a multitude of study abroad opportunities, and a robust honors program (a full 7 percent of the 2002 graduating class wore honors medallions) round out the Calvin academic experience.

The rigor pays off. Calvin students score impressive pass rates on national qualifying exams. And Calvin ranks 22nd among 1,000 peer private institutions in the number of graduates who have gone on to earn doctoral degrees.

As Calvin students study, they also worship and serve. Some are worship apprentices, coordinating and leading worship services throughout the campus, and helping to fulfill the college's vision to revitalize worship through the Lilly Vocation Project.

Many tutor in inner-city schools, work in food pantries, and volunteer at retirement homes, hospitals, after-school programs, and social service organizations—and they often do it as a complement to their work in class.

This is the educational mix that allows Calvin to produce redemptive teachers, lawyers, environmentalists, doctors, authors, cancer researchers, politicians, scientists, surgeons, homemakers, artists, journalists, filmmakers, judges, engineers, and clergy.

While maintaining its excellence, Calvin also maintains its commitment to affordability. In 2002–2003, Calvin's tuition and fees were $2,500 below the national average for private colleges and universities.

National college guides consistently praise Calvin for delivering a superior education at a reasonable price. Calvin is listed as one of only 20 colleges that deliver the "Best Academic Bang for Your Buck" in the Princeton Review's Best 345 Colleges. The 2002 edition of Barron's Best Buys in College Education commends the college's research facilities and study abroad programs at "a price even John Calvin himself would not want to reform."

 Unrestricted Budget 2002–2003

Unrestricted Budget 2002–2003 = $72 million

  • Salaries and Wages $32.1 million
  • Other $21.9 million
  • Benefits $13.2 million
  • Food Contract $5.8 million
    Total $72 million
 
 Unrestricted Sources of Revenue 2002–2003
Unrestricted Sources of Revenue 2002–2003 = $72 million
  • Room and Board $11.8 million
  • Bookstore $2.8 million
  • Denominational Ministry Shares $2.7 million
  • Operation Gifts $2.6 million
  • Net Tuition and Fees $49.1 million
  • Other Revenue $3.0 million
    Total: $72 million

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