April 14, 2009 — The University of Virginia's Board of Visitors today approved lower-than-expected increases in tuition and fees for undergraduate Virginians. The increase – just $375, or 5 percent – brings annual tuition and fees for in-state full-time students to $7,873.
The University had anticipated greater in-state increases, but the recent allocation of $10.7 million in temporary funding – made possible by the American Reinvestment and Recovery Act of 2009 – allows for a partial mitigation of in-state tuition increases for the next two years.
At the same time, slightly higher-than-expected increases were approved for out-of-state students, who make up 31 percent of the undergraduate student population. (Virginians make up 69 percent.)
Tuition and required fees for non-Virginians will increase 7.5 percent, or $2,075, to $29,873 a year. A portion of the out-of-state tuition increase is the result of the 2009 General Assembly action to increase the out-of-state capital fee from $2 per credit hour to $10. This action requires the University to increase the annual capital fee by $244 for all full-time out-of-state students in order to generate required revenue for the Virginia College Building Authority Debt Service.
Tuition revenue supports both University initiatives and daily operations, said Leonard W. Sandridge, the University's executive vice president and chief operating officer. Primary recipients, he added, include the new Student Information System support organization; increased costs of employee fringe benefits; utilities; the operation and maintenance of newly constructed University buildings; core investments in the College of Arts and Sciences; and AccessUVa, the University's financial aid program.
More than a third of the incremental revenue realized from tuition increases will be allocated to AccessUVa to ensure the University's commitment to affordability.
"We anticipate that with the current economic situation, we will see more students who qualify for financial aid," Sandridge said. Since AccessUVa was approved by the Board of Visitors in February 2004, the University has increased the program's annual budget from $20 million in its first year to $63 million for the current academic year. Sandridge said he expects the AccessUVa budget to increase by another $10 million in 2009-10.
Three-quarters of the students receiving some form of financial aid are in-state students.
"Each year, one goal we have in setting tuition is to keep the University of Virginia a good value for the students of the Commonwealth. Members of our board are committed to providing the best education at an affordable price," Sandridge said. "They also are committed to AccessUVa, which has distinguished the University as a national leader in recruiting and enrolling a more socio-economically diverse student body."
Required auxiliary fees totaling $1,755 – which support Athletics, Student Health, recreational facilities, Newcomb Hall, University Transit Service, auxiliary services, student programming, Microsoft licensing fee, Safe Ride and WTJU – will see no increase next year.
The board approved a number of other rate increases:
• The University's undergraduate housing rate, one of the lowest among its national peer institutions, will increase by 5.1 percent.
• Meal plans, also one of the lowest among national peers, will increase an average of 5.4 percent.
• Tuition and fees for in-state graduate students will increase by $495, or 4.1 percent, to $12,635; out-of-state graduate tuition and fees will increase by $495, or 2.2 percent, to $22,635.
• Darden School of Business in-state tuition and fees will increase by $3,000, or 7.4 percent, to $43,500; out-of-state tuition and fees will increase by $3,000, or 6.6 percent, to $48,500.
• Law School tuition and fees for in-state students will increase by $2,000, or 5.4 percent, to $38,800; out-of-state tuition and fees will increase by $2,000, or 4.8 percent, to $43,800.
• Medical School tuition and fees for continuing in-state students will increase by $1,750, or 5.4 percent, to $34,400; out-of-state tuition and fees for continuing students will increase by $1,750, or 4.1 percent, to $44,400. Entering students will pay $750 more.
The University had anticipated greater in-state increases, but the recent allocation of $10.7 million in temporary funding – made possible by the American Reinvestment and Recovery Act of 2009 – allows for a partial mitigation of in-state tuition increases for the next two years.
At the same time, slightly higher-than-expected increases were approved for out-of-state students, who make up 31 percent of the undergraduate student population. (Virginians make up 69 percent.)
Tuition and required fees for non-Virginians will increase 7.5 percent, or $2,075, to $29,873 a year. A portion of the out-of-state tuition increase is the result of the 2009 General Assembly action to increase the out-of-state capital fee from $2 per credit hour to $10. This action requires the University to increase the annual capital fee by $244 for all full-time out-of-state students in order to generate required revenue for the Virginia College Building Authority Debt Service.
Tuition revenue supports both University initiatives and daily operations, said Leonard W. Sandridge, the University's executive vice president and chief operating officer. Primary recipients, he added, include the new Student Information System support organization; increased costs of employee fringe benefits; utilities; the operation and maintenance of newly constructed University buildings; core investments in the College of Arts and Sciences; and AccessUVa, the University's financial aid program.
More than a third of the incremental revenue realized from tuition increases will be allocated to AccessUVa to ensure the University's commitment to affordability.
"We anticipate that with the current economic situation, we will see more students who qualify for financial aid," Sandridge said. Since AccessUVa was approved by the Board of Visitors in February 2004, the University has increased the program's annual budget from $20 million in its first year to $63 million for the current academic year. Sandridge said he expects the AccessUVa budget to increase by another $10 million in 2009-10.
Three-quarters of the students receiving some form of financial aid are in-state students.
"Each year, one goal we have in setting tuition is to keep the University of Virginia a good value for the students of the Commonwealth. Members of our board are committed to providing the best education at an affordable price," Sandridge said. "They also are committed to AccessUVa, which has distinguished the University as a national leader in recruiting and enrolling a more socio-economically diverse student body."
Required auxiliary fees totaling $1,755 – which support Athletics, Student Health, recreational facilities, Newcomb Hall, University Transit Service, auxiliary services, student programming, Microsoft licensing fee, Safe Ride and WTJU – will see no increase next year.
The board approved a number of other rate increases:
• The University's undergraduate housing rate, one of the lowest among its national peer institutions, will increase by 5.1 percent.
• Meal plans, also one of the lowest among national peers, will increase an average of 5.4 percent.
• Tuition and fees for in-state graduate students will increase by $495, or 4.1 percent, to $12,635; out-of-state graduate tuition and fees will increase by $495, or 2.2 percent, to $22,635.
• Darden School of Business in-state tuition and fees will increase by $3,000, or 7.4 percent, to $43,500; out-of-state tuition and fees will increase by $3,000, or 6.6 percent, to $48,500.
• Law School tuition and fees for in-state students will increase by $2,000, or 5.4 percent, to $38,800; out-of-state tuition and fees will increase by $2,000, or 4.8 percent, to $43,800.
• Medical School tuition and fees for continuing in-state students will increase by $1,750, or 5.4 percent, to $34,400; out-of-state tuition and fees for continuing students will increase by $1,750, or 4.1 percent, to $44,400. Entering students will pay $750 more.
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April 14, 2009
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