The University of Virginia Board of Visitors today approved tuition rates for the next two academic years. The decision to set rates for two years is a shift from the previous approach of setting rates annually, and is a key feature of the board’s initiative to make tuition decisions more transparent and predictable for UVA students.
The board approved a 4.7% increase in base undergraduate tuition and fees for the 2022-23 academic year, and a 3.7% increase for the 2023-24 academic year.
Over the past six years, base tuition and fee increases have averaged less than 2% annually, including two years (2021-22 and 2019-20) when base tuition was held steady.
The board’s decision to raise tuition for 2022-23 and 2023-24 is a reaction to rising University operating costs across a wide range of sectors. The increased revenue will also enable UVA to offer competitive salaries for faculty, support a world-class student experience, and maintain its commitment to meeting 100% of the demonstrated need of undergraduate students through AccessUVA, the University’s financial aid program. After holding base tuition steady for two years and instituting a pay increase for University employees, this increase will ensure the University can maintain its standards for academic excellence and accessibility.
The rates assume a steady level of state funding and could be reconsidered if state funding is lower or higher than projected.
“Today’s decision to set tuition rates for the next two years is intended to increase transparency for our students so they have greater certainty and ability to plan for the future,” University Rector Whitt Clement said. “We do not take decisions about tuition lightly and we strive to limit increases in tuition to only what is needed to address rising costs, ensure financial stability, and maintain our academic excellence.”
Under AccessUVA, the University’s financial aid program, all demonstrated need is met and student debt is capped. In addition, in-state students with a family income of less than $80,000 receive free tuition and fees, while tuition, fees, room and board are completely covered for in-state students with a family income of less than $30,000.
Tuition helps the University support outstanding first-generation students and low-income students, both of whom UVA has prioritized for increased enrollment.
“These new tuition rates will help the University balance its annual budget in an inflationary environment, while maintaining our commitment to accessibility and to value,” President Jim Ryan said. “We will continue to be one of the few public universities in the country to meet 100% of students’ demonstrated financial need while offering all of our students a world-class education and experience during their time here at UVA.”
In 2021, Forbes ranked the University as the No. 1 Best-Value Public College in Virginia and the Best Public School for Financial Aid in the nation.
December 10, 2021