Nichols College News

Nichols Announces a 2009-2010 Economic Impact on Surrounding Region of $108M





Nichols College President Gerald Fels states that for 2009-2010, the College’s positive economic impact on its surrounding communities topped $108 million, a three percent increase over the previous year based on factors which include budget, capital improvements and student spending and fees.

In addition, Nichols conservatively estimates that for the same period, student clubs and athletic teams performed over 6,000 volunteer service hours, for an additional value of $125,100.

Adds Fels: “Our students, faculty and staff are committed to share their time, talents and treasure with those in need, including the Webster-Dudley Food Share, Red Cross Blood Drive, Walk for the Cure, and the Bison Reading Program.”

For the last twelve years, the campus master plan has enhanced the charm of the Hill with heightened beauty, safety and functionality. “It’s our policy to buy goods and services from the surrounding communities, use local vendors and create jobs,” says Vice President for Administration Michael J. Stanton. “This focus helps the region achieve long-term, sustainable growth.” Today, Nichols employs 151 full-time and 141 part-time individuals, with nearly 80% living nearby, owning homes and paying property and excise taxes to local towns.

According to Vice President for Enrollment & Marketing, Thomas R. Cafaro, Nichols is proud to educate students from the surrounding region. “Almost 97.2 percent of our students receive some form of financial aid,” he says, with 38 percent of Day student enrollment coming from two surrounding counties: Worcester County, Mass. and Windham County, Conn.

The amount of financial aid awarded for Day, Evening Undergraduate and M.B.A. students from all sources for the 2009-2010 academic year totaled $31,866,743. And to date, over 103 students with financial need from the Towns of Webster and Dudley have received, or are currently receiving, Fels-family scholarships of up to $20,000 to commute to the College.

“We have always believed that business education isn’t confined to a classroom,” concludes Fels, “and that being a good neighbor is serious business. We remain steadfastly committed to our region.”