The Board of Visitors today adopted a plan to set the upper bound of tuition and fees for 2004-05. The total cost to attend Virginia Tech for a Virginia undergraduate campus resident will be no more than $10,062 per year, an increase of $883. Out of state campus resident undergraduates will pay no more than $20,957, an annual increase of $1,844. (Total cost includes tuition, all fees, and room and board.)

The state budget contains not only state taxpayer appropriations, but also provides the revenue collection and expenditure authority for nongeneral funds (such as tuition) and related guidance or restrictions on components of tuition and fees. As a result, without a budget from the state, the board is unable to establish the components of the total tuition and fees package for 2004-05.

By establishing an upper bound of tuition and fees, the university can develop student financial aid award packages for incoming students thereby helping students and families plan for the coming year. Once the state budget is determined, the university will set specific tuition and fee levels. University officials intend to finalize rates as soon as possible.

The tuition and fee proposal will allow Virginia Tech to begin a four-year plan to generate sufficient funds, along with anticipated state support, to address Virginia's under funding of core academics. "I am particularly pleased that students will see protection of quality programming, retention of talented faculty, increased course offerings, and reduced class size. We have a pressing need to preserve the integrity of university programs and we raise tuition only because we lack the state funds to achieve base adequacy. We raise tuition with reluctance but know that our constituents value and demand quality," said Charles W. Steger, president.

Officials note that Virginia Tech remains an excellent value. "I am very pleased to note that even with these increases, we expect that Virginia Tech's total charges for tuition, all fees, and room and board for Virginia undergraduate students will be the lowest among Virginia's four-year public colleges and universities," said Minnis Ridenour, executive vice president and chief operating officer. The university estimates that for the upcoming academic year the total cost for an on-campus undergraduate resident student will rank 15th of the 15 Virginia four-year public institutions and will rank 23rd of its 23 national peer universities. Out-of-state undergraduate total costs should rank 18th of 23 peer institutions.

The university will begin to address "base adequacy," course availability, low faculty salaries, and financial aid. When fully funded, the plan includes allocating more than 200 new faculty positions over the four-year period in order to help reduce classroom crowding and provide more flexible course options. Virginia Tech faculty salaries currently rank in the 27th percentile as compared to its peers. This is well below the state's goal of achieving the 60th percentile of the university's national peer group.

Steger added, "We are pleased to announce significant increases in financial aid, up to $3.4 million of university funds can be made available to ensure access." The actual amount will depend on actual state appropriations and individual student need.

The maximum graduate tuition and fees are as follows: On-campus resident, $7,613; on-campus non-resident, $11,683; off-campus resident, $7,311; off-campus non-resident, $11,439. For Veterinary Medicine, Virginia/Maryland resident, $12,878; non-resident, $29,150.

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