For students from families that qualify for need-based financial aid, their Federal Pell and Minnesota State Grants will stretch farther in covering a greater portion of their tuition expense. And the tuition decrease will reduce the out-of-pocket cost for students from families that do not qualify for federal or state need-based financial aid.
With our published tuition price rolled back to approximately what it was a decade ago, Concordia will become one of the most affordable private colleges or universities in Minnesota and in the Concordia University System. The average net cost for our students will be comparable to the cost of the region's public universities. In resetting tuition, nothing has been cut or eliminated from the Concordia educational experience in or out of the classroom. So retaining the high quality of the education we provide while reducing our tuition price will enhance our value equation.
Modest enrollment growth is projected due to the elimination or reduction of cost barriers that now prevent some students and their families from choosing a private university. Nevertheless, Concordia's strategic goal is to maintain a traditional student population of approximately 1,500 to ensure a quality experience in and out of the classroom.
Concordia expects to boost donor contributions to our endowment, which will strengthen our capacity to manage tuition to the best advantage of students and limit future tuition increases.