Seton Hall’s Division of Finance released the university’s budget for the 2027 fiscal year (FY2027) on July 15, outlining a comparatively smaller budget than Fiscal Year 2026 (FY2026) as SHU responds to inflation through increased tuition and salary freezes for staff, faculty and administrators.
The Board of Regents approved a $340.7 million unrestricted operating budget for FY2027, a $7.3 million decrease from FY2026. The decrease in funding is paired with a 3.25% increase to SHU’s posted tuition, fees, and room and board, raising posted tuition by $847.
In an email to the university community, Edward J. Bishof Sr., vice president for finance and chief financial officer, said the budget is a response to rising costs, including “a roughly 23 percent jump in energy prices since May 2025,” alongside “a backdrop of 4.2 percent overall inflation” between May 2025 and May 2026.
While acknowledging that these changes may feel daunting to students, faculty and administrators, Bischof said the budget prioritizes SHU’s academics and values while maintaining financial strength.
“Rather than squander the University’s advantage, the Regents wisely approved a smaller budget that preserves our financial strength,” he said, “allowing Seton Hall to remain nimble in the face of considerable headwinds that will buffet our sector for the foreseeable future.”
According to Bishof, rising costs and inflation prompted the Division of Finance to reconsider its revenue and expense challenges, including class size, employee benefits, graduate programs and room and board.
Bishof first addressed employee benefits, noting that SHU’s cost to provide these benefits has increased by 30% over the past three years, with health insurance coverage serving as a “major driver” of this increase.
In response, Bishof said the Executive Cabinet has implemented a salary freeze for faculty, staff and administrators and reduced compensation for members of the Executive Cabinet. The Cabinet will also review all proposed promotions and open job postings and, according to Bishof, has approved a “decrease in existing headcount.”
Bishof also said the university is receiving less revenue from on-campus housing and meal plans as more students choose to commute or live off campus. As a result, tuition, fees and room and board will increase by 3.25%.
He also raised concerns about enrollment trends. With the recently graduated senior class larger than the incoming freshman class, Bishof pointed to a national decrease in first-year college enrollment. He said the underwhelming enrollment numbers are leading to “increased competition” as SHU works to recruit new students while retaining the current population.
To account for these enrollment changes, Bishof said the university limited the increase to its discount rate—the percentage of posted tuition that an institution offsets with financial aid. As the federal government makes changes to student loan policies, a limited increase to SHU’s discount rate helps offset decreased federal funding for higher education, ultimately preventing a budget deficit.
Alongside undergraduate enrollment concerns, the Division of Finance also addressed graduate program enrollment concerns. Due to changes in federal aid eligibility requirements for graduate students, Bishof said the Executive Cabinet is taking a cautious approach when projecting graduate program enrollment for the coming year.
Other measures introduced in the budget aimed at lowering costs include the potential sale of unused and underused off-campus properties and the suspension of some planned capital projects and expenditures.
The Division of Finance and the Executive Cabinet are continuing to finalize budget allocations for FY2027. Bishof said the measures outlined in the budget are intended to prevent financial hardship for the university as rising costs continue to impact higher education.
“These have been difficult decisions for the Executive Cabinet to make, but they are necessary given the state of the higher education sector. As I mentioned last month, Seton Hall is not immune from the challenges facing nearly every college and university,” Bishof said. “Ultimately, the FY27 budget will effectively position Seton Hall to continue to provide an exceptional Catholic educational experience this year and beyond.”
This article initially misspelled Edward J. Bishof Sr. It has been updated to reflect the proper spelling.
Michela DiLorenzo is the head editor of The Setonian’s News section. She can be reached at michela.dilorenzo@student.shu.edu.
