WPI Weathers Economic Storm, Grows Surplus
Worcester Polytechnic Institute said it finished its last fiscal year with an operating surplus of $8 million, a six percent increase over the previous year.
This fall, WPI has enrolled its largest-ever freshman class and has hired 23 new, full-time faculty members, the most it's ever hired in a single school year and a 10 percent increase over the number of new hires brought on last year.
In a statement, Dennis Berkey, WPI's president, said the institute has "planned well, managed well, and we have also been fortunate."
Last year, WPI froze hiring for all positions except the "most mission-critical positions" and created a "Presidential Commission on Efficiency and Effectiveness."
Undergraduate tuition increased by 2.9 percent for the 2009-10 year, which is the school's smallest yearly tuition increase in nearly 20 years.
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