newsuva board of visitors sets tuition for 2015 2016

UVA Board of Visitors sets tuition for 2015-2016


uva-logoThe University of Virginia Board of Visitors on Wednesday approved tuition rates for the 2015-16 academic year, adding a key component to a new financial model that significantly reduces student indebtedness for Virginia families.

Undergraduate tuition and required fees for Virginia residents will increase by 3.6 percent, or $470, from $12,998 to $13,468. The corresponding rate for out-of-state students increases by 3.7 percent. The total price of education for an in-state student – including tuition, fees, room, board, books and travel – would increase by 3.3 percent, or $895, to $27,963, compared to $27,068 in the current academic year. For a non-Virginian, the price of a U.Va. education would increase by 3.5 percent.

First-year Virginia students entering this fall will also see a $1,000 step increase added to base tuition. Currently enrolled in-state students will not pay the step increase, which also does not apply to out-of-state students.

The 2015-16 step increase, combined with another step increase in 2016-17, will generate funds the University will deploy to dramatically reduce debt for students from low- and middle-income Virginia families. For 70 percent of Virginia households, the “Affordable Excellence” model approved Tuesdayreduces the net cost of a U.Va. education.

Under Affordable Excellence, total maximum debt for low-income Virginians will be slashed from $14,000 over four years to a maximum of $4,000. For all other in-state students qualifying for need-based loans, maximum debt drops from $28,000 over four years to $18,000. Starting in the fall, the lowered indebtedness will be extended to all current in-state students with demonstrated need.

U.Va. also will offer the option of a four-year, fixed-price base tuition at a reasonable premium. The option will not include fees and school-specific tuition differentials.

Find the approved Affordable Excellence resolution here.

U.Va. will continue its commitment to meet 100 percent of demonstrated financial need of all undergraduates, and to make offers of admission with no consideration of a student’s financial situation. The University is one of only two public institutions in the country to operate admission on such a “need-blind” basis while also meeting all financial need of both in-state and out-of-state students. About 34 percent of undergraduates are projected to demonstrate financial need during the next academic year.

The University consistently earns national recognition for the quality and value of its education. The Princeton Review this year listed U.Va. as the nation’s top public school for affordability, academics and career prospects. U.S. News & World Report rates U.Va. as the No. 2 public university in the nation, while Kiplinger’s Personal Finance magazine has rated the University as the nation’s No. 2 best value among public universities for three straight years.

While considering tuition for 2015-16, the Board of Visitors used a variety of sources to address rising operational costs, including increasing the endowment distribution, identifying new institutional savings and, as a last resort, tuition revenue. Compared with the current academic year, the University faces an incremental increase of about $34 million in operating requirements and other expenditures. It also absorbed an $8.2 million mid-year reduction in state budget appropriations, which was put in place after tuition and rates were set for this year.

The legislature this year did increase funding for higher-education enrollment increases, but the state budget also brings higher costs to state agencies for faculty and staff pay increases, and higher mandatory contributions to the Virginia Retirement System, totaling an estimated $9.8 million.

The University also is investing $1.3 million in a multiyear plan to enhance electronic and print library resources, as well as $2.7 million in enhanced safety and student support initiatives. The latter initiatives include additional counselors at the Maxine Platzer Lynn Women’s Center, sexual assault and safety education programs, upgrades to the University’s camera system, additional police officers, establishment of the Corner police substation and the operation of the “Ambassadors” program.

The University proposal creates a contingency in the event the federal Department of Education concludes the Perkins Loan program. Such a move would require an investment of $3.5 million in University funds to ensure U.Va. continues to meet 100 percent of demonstrated financial need of all students.

For Virginia residents attending the University of Virginia’s College at Wise, tuition and mandatory fees will increase by 4 percent, or $352.



Have a story idea or a news tip? Email editor Chris Graham at [email protected]. Subscribe to AFP podcasts on Apple PodcastsSpotifyPandora and YouTube.

Latest News

classified documents

What they didn’t want us to know: What they were saying after Virginia’s 15-1 win over Army

refugees immigrants

Miyares joins political suit filed by Republican AGs over restrictive Biden asylum policy

Virginia Republicans are continuing the dumb politics from their non-border state over the southern border. Attorney General Jason Miyares has joined attorneys general from 17 states in a suit against the Biden administration over its Circumvention of Lawful Pathways rule. The rule, which went into effect on May 11, restricts the eligibility of migrants to...


Free summer camp gives young women a closer look at careers in fire, rescue

The Charlottesville Fire Department is hosting its Girls Fire & Rescue Camp for the second year in an effort to encourage girls to seek career opportunities in fire service.

hurricane season

Whether you live on the coast or inland, Virginians urged to prepare for hurricane season

massey cancer center vcu

VCU Massey Cancer Center designation to bring more access, clinical trials to Richmond area

cm punk collision

The CM Punk Effect: Why Tony Khan desperately needs his top draw back


Congress stepping in to reduce suicide, working to create grants for nets on bridges