All full-time regular session students will receive a one-time $275 rebate of their tuition payment. Part-time students will receive a $15 per credit hour rebate.
In addition, full-time students will receive a one-time $20 rebate of their comprehensive fee payment. Students who live on campus or who have purchased a meal plan will receive a $19 to $32 room-and board-rebate depending on which room and board plan they have.
This financial relief will be applied in the spring 2024 semester. Students enrolled for only a portion of the year will receive pro-rated relief.
Effective Dec. 10, eligible Virginia Tech salaried faculty and staff will receive a 2 percent salary increase. The university also will advance the graduate assistant stipend scale by 2 percent. These increases are in addition to the 5 percent compensation program approved by the board in June.
A special session of the Board of Visitors was held online today to authorize the tuition and fee rebate and to approve the 2 percent compensation program.
The action was taken after reviewing the amended state budget signed by Virginia Governor Glenn Youngkin on Sept. 14. The amended budget includes an additional 2 percent mid-year compensation program increase as well as new operating support for Virginia Tech.
“Now that the final impact of the state budget on major revenue and cost changes are known to us, the university was able to develop and recommend one-time tuition and fee rebates for the current academic year,” said Executive Vice President and Chief Operating Officer Amy Sebring.
The amended state budget includes $9.2 million for Virginia Tech in ongoing general fund support for affordable access to support inflation, student support services, programs for workforce needs and to minimize student costs. In addition, the budget included $3.1 million of ongoing general fund support for student financial aid to provide need-based undergraduate financial aid to reduce the amount of tuition revenue used for financial aid.
The next full Virginia Tech Board of Visitors meeting will be held Nov. 5-6 in Blacksburg.