Virginia Tech Board of Visitors to consider tuition rate hike for 2023-24 academic year on Friday

The Virginia Tech Board of Visitors will meet Friday to consider a 4.9 percent tuition increase for in-state and out-of-state undergraduate and graduate students as well as an increase in some fees for all students.

Pending the final outcome of the state’s budget process, the board and university may revisit tuition and fee rates in light of final state-mandated costs, incremental resources and anticipated needs related to the university’s priority investments.

“Virginia Tech depends on state support and appreciates the partnership we have had with the Commonwealth for many years now,” said Virginia Tech President Tim Sands. “Though the state budget process is not yet complete, we believe it is critical we take action now to help students and their families understand college costs before the May 1 acceptance deadline.”

Board of Visitors Rector Letitia Long said the board is committed to the access and affordability initiative.

“Higher education is not immune to the impact of continued periods of high inflation,” said Long. “Although this year’s rate increases are higher than we’ve seen the last several years, the return on investment for a Virginia Tech degree remains high, and at a lower cost than many of our peer institutions. Even with that, we recognize that for many low- and middle-income families a college education may seem out of reach, which is why the board remains focused with President Sands on increasing available resources to ensure all students have the opportunity to benefit from a Virginia Tech experience.”

Breaking it down

Virginia Tech ranks ninth of the 15 Virginia public universities in terms of total overall cost for resident undergraduate students. Virginia Tech continues to have the lowest mandatory fees among all public four-year institutions in the Commonwealth.

• In the past five years, the consumer price index has increased 21 percent. In-state tuition rates at Virginia Tech have increased 9 percent.
• If the proposed resolution is adopted, tuition for Virginia undergraduate students would increase $593, to $12,697 annually.
• If the proposed resolution is adopted, out-of-state undergraduate tuition will increase $1,556, totaling $33,310 annually.
• If the proposed resolution is adopted, comprehensive fees would increase $208 for a total of $2,585 next year.
• If the proposed resolution is adopted, annual room and board charges would increase by $990 per year, to a total of $11,746.

When adding tuition and mandatory fees with room and board costs, the total cost in 2023-24 for a Virginia undergraduate student living on campus would be $27,222. The total cost of an out-of-state undergraduate living on campus will be $48,439.