The Virginia Tech Board of Visitors has set tuition and fee rates for 2008-09 academic year.
Mandatory tuition and fees for Virginia undergraduates will rise from $7,397 to $8,198 annually. Non-Virginia undergraduates not living on campus will pay $20,825 annually, up from $19,775.
Total cost for Virginia undergraduate students living on campus will rise from $12,503 to $13,674 to annually, an increase of $1,171. Total annual cost for non-resident undergraduates on campus will rise from $24,811 to $26,301, an increase of $1,490.
“Maintaining quality of a Virginia Tech education drives our decisions. The board reluctantly approved these increases against the backdrop of erosion in state funding,” said President Charles Steger. In 2003 the university lost about $72 million in state funding and saw its budget reduced again by $10 million this year. The university now receives about $2,000 less per Virginia student than eight years ago.
In response to rising demand and requests from state officials, Virginia Tech has increased enrollment of Virginia students by about 1,500 since the beginning of the decade.
Steger says, “Costs such as energy continue to rise. Demand for our programs is strong, and we plan to add faculty in critical areas. We are also funding campus safety initiatives such as additional police officers, counselors, notification systems, and hardware. We again will increase financial aid.”
The university continues to implement the “Funds for the Future” program and work to ensure student access. Funds for the Future, a multi-million dollar program, protects lower income students from future tuition increases.
In 2008-09, the university will increase support for undergraduate financial aid by $1.8 million over the previous year. The state is increasing its financial aid support by $408,000. Together, this will provide about $2.2 million in additional support in 2008-09.
Graduate tuition and fees for Virginia residents will increase from $8,986 to $9,735 and for out-of-state students move from $15,351 to $16,866. Tuition and fees for Maryland and Virginia residents attending the Virginia-Maryland Regional College of Veterinary Medicine will be $17,336 up from $15,951 Non-resident veterinary students will pay $38,270 annually.
Certain students in the School of Architecture + Design will now pay an annual program fee of $650. The new fee will begin with incoming freshmen, internal transfers, and incoming graduate students to support design studios and associated equipment and technology.
Steger notes that even with increases, “A Virginia Tech education remains an excellent value. Virginia Tech’s overall cost to attend still will remain competitive compared to other Virginia colleges and universities, likely about 13th of 15 colleges and universities. The average total cost to attend a Virginia four year public school is $15,000. Even with this increase, Virginia Tech’s total cost will be $13,674. Compared to our peer universities around the nation (a benchmark group developed by the state), we will rank about 21st of 24.”