In the cover letter that accompanied the report,
Hamilton President Joan Hinde Stewart affirmed the college's commitment to "making the finest possible education affordable to students from all income levels."
She told the senators that "[k]eeping higher education accessible to students from low- and middle-income families is a priority for us. This reflects our history and exemplifies the ideals of the college that is named for Alexander Hamilton, who rose from humble beginnings and, thanks to scholarship support, became one of the most influential minds in our nation's history."
In making her point, Stewart called attention to Hamilton's decision one year ago to reallocate $1 million in endowed funds to provide additional need-based aid for students who qualify for financial aid.
More recently, Hamilton's Board of Trustees set the comprehensive fee for the 2008-09 academic year. The new charges represent an increase of 4.8 percent, which is the lowest percentage increase in seven years. The trustees also approved increasing the financial aid budget by an additional $1.6 million to $23 million and approved a new endowment spending formula that provides additional income for the college's operating budget during good markets.
Hamilton's endowment returned 21.2 percent for the year ending June 30, 2007, placing its performance in the top quartile of colleges and universities reporting their investment returns to the National Association of College and University Business Officers.
