Industry - Delaware Business Times

Education, News, Statewide

Tuition increases coming to UD, GBC and WilmU

Katie Tabeling July 5, 2022

NEWARK —Three of Delaware’s universities and colleges have raised tuition for students this year, mirroring a national trend of rising tuition increases across the country. Earlier this summer, the University of Delaware announced it would ...

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Education, News, Technology

Drone training program preps veterans for new careers

Guest Writer July 5, 2022

WILMINGTON — Paul Dietrich developed an interest in drone technology while serving as a squad leader for the U.S. Army, but he didn’t have the opportunity to participate in a training program at the time. ...

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Bioscience and pharmaceutical, New Castle County, News

AstraZeneca to buy Calif. cancer firm for up to $1.2B

Jacob Owens July 5, 2022

WILMINGTON – Seeking to supercharge its cancer drug pipeline, pharmaceutical giant AstraZeneca announced a deal potentially worth more than $1.2 billion to acquire a small California-based biotech firm working on lymphoma treatment. AstraZeneca, which has ...

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Insider Only, Legal Services, New Castle County, News, Statewide

🔒 Schmidt takes helm at Richards, Layton & Finger

Jacob Owens July 1, 2022

WILMINGTON – Lisa Schmidt, a longtime corporate litigator, has taken over as president of Richards, Layton & Finger (RLF), the largest law firm in Delaware with more than 160 attorneys. Headquartered in downtown Wilmington near ...

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Hospitality, New Castle County, News, Retailing And Restaurants

New look, name unveiled for boutique Wilmington hotel

Jacob Owens July 1, 2022

WILMINGTON – The developer and future operator of the new boutique hotel on Market Street unveiled its first look this week at the project scheduled to open later this summer. Owned by prolific local developer ...

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Goldey-Beacom College is one of three colleges in Delaware raising tuition rates this year. | DBT PHOTO BY JACOB OWENS[/caption] NEWARK —Three of Delaware’s universities and colleges have raised tuition for students this year, mirroring a national trend of rising tuition increases across the country. Earlier this summer, the University of Delaware announced it would raise tuition by 3% next year. In-state tuition will rise by $390 to $13,370 while out-of-state tuition will increase by $1,050 to $35,890. UD cited “rising expenses and record inflation” behind the decision, although the university is expected to see a record-setting number of first-year students enroll in the fall. UD is expected to enroll between 4,500 and 4,650 freshmen, UD President Assassins told the Board of Trustees in May. Wilmington University also increased its tuition next year by 2.34%, which raises undergraduates by $162 to $7,182 and graduates up by $144 to $6,144. Goldey-Beacom College also raised its tuition 2.4% across the board. Undergraduate tuition moves from $12,750 to $13,050. GBC had cut its tuition in half the previous year as a measure to aid students during the financial uncertainty of the COVID-19 pandemic. Delaware State University, the only historically Black college in Delaware, will not raise tuition for the next school year, according to DSU spokesman Carlos Holmes. In the first year of the pandemic, higher education institutions across Delaware struggled retaining students, as many classes were pushed online as a way to slow the spread. That caused some financial fallout, in 2020, but some universities like UD were able to shrink a projected multi-million shortfall with cost-cutting measures and a rebound in enrollment. Others like DSU, were able to tap into federal funding through the CARES Act and the American Rescue Plan Act, while also growing enrollment and leveraging partnerships and financial contributions. Annual trends reports from the College Board showed that college tuition rates rose at low levels in the first two years of the pandemic. After adjusting for inflation, average tuition across the country increased by 1.6%, or $10,740 for in-state students at public, four-year institutions, according to the report. At private, nonprofit four-year institutions, average tuition increased by 2.1% to $38,070. Data is not yet available for nationwide trends for the 2022-2023 year. The average in-state tuition and fee rate in Delaware four-year universities was $13,901 as of most recent data, which is 29% more than the national average of $10,740. Over the last five years, tuition in Delaware has gone up about 4%, according to the College Board.