In an email shared with students and faculty, LAU’s President Michel Mawad revealed that the Lebanese American University LAU will no longer be able to sustain the current financial plan due to the dollar crisis in Lebanon.
Earlier this year, the university decided to request that a portion of the tuition fees be paid in LBP and the rest in USD check. However, as a result of the shift of their budget costs to fresh USD, the current financial plan is no longer sufficient to sustain LAU.
The university has made the decision to adopt a fresh dollar budget that will be effective starting Fall 2022. They also assured their students that the Financial Aid budget will be increased to support students in need.
Tuition fees at LAU range from $8,300 to $10,800 depending on the major, which is an unimaginable amount that is unrealistic for the majority of students, especially those depending on Financial Aid and grants.
As other universities are expected to follow suit, education is gradually becoming more intangible for many.