In preparation of the full Virginia Tech Board of Visitors meeting scheduled for June 2, the Finance and Resource Management Committee met Thursday to discuss tuition scenarios for the 2020-2021 academic year.
Central to that conversation was university leadership, led by President Tim Sands, and board members expressing their desire to consider a proposal that would not raise tuition for all undergraduate and graduate students, both resident students and out of state students, for the coming academic year.
“As the board reflects and prepares for the vote we will take on June 2, we must consider the impact our decision will have on students and their families in this time of financial stress,” said Tish Long, chair of the Finance and Resource Management Committee after the meeting.
“I am deeply grateful for the commitment our board and university have demonstrated, for the open and transparent dialogue we have had and will have, and for making sure we are doing what is best for this university,” added Long.
“At today’s Finance and Resource Management Committee meeting, our administration signaled our intent to consider, among the options we will present to the committee later this month, a recommendation to extend the tuition freeze for in-state undergraduates for a second year. Furthermore, we are including among the options, a freeze of tuition rates for all graduate and undergraduate students regardless of residency,” said Sands after the meeting. “Given the extent to which the pandemic has introduced uncertainties into the planning of our students, their families and our University, we feel it is important to offer a degree of stability and predictability, even if this puts additional strain on the university’s financial planning.”
The Finance and Resource Management Committee vote on a tuition and fees proposal at its May 29 committee meeting, to bring forward to the full board for a vote on June 2.
The Finance and Resource Management Committee also received a report on the 2020 state and federal legislative session and its impact on higher education and Virginia Tech, specifically.
The committee also discussed the development of the 2020-21 university budget and compensation for graduate assistants. These matters are also scheduled to be further discussed and voted upon at the June 2 meeting.
The next Virginia Tech Board of Visitors committee meeting will be held online on Wednesday, May 13 in closed session for the purpose of conducting interviews for student representatives to the Board of Visitors. More information may be found on the Virginia Tech website.
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