The Virginia Tech Board of Visitors Executive Committee today set tuition and fees for the 2010-11 academic year.
Total tuition and mandatory fees for a Virginia undergraduate student will be $9,589, an increase of $854. This amount will be partially offset by a $130 American Reinvestment and Recovery Act of 2009 (or ARRA “Mitigation Grant”) provided to every instate undergraduate for tuition mitigation.
Non-Virginia undergrad students not living on campus will pay $23,217, a $1,339 increase. Total average annual costs for a Virginia undergraduate student living on campus will rise from $14,559 to $15,879. The out of state fees include an increase of $179 per year in the state mandated Capital Fee. All of the monies collected for the Capital Fee are returned to the state. Out-of-state undergrad students will see this figure rise from $27,702 to $29,507. (Note: There are several rates for room and board; individual costs will vary. The university uses an average to calculate suggested room and board for this demonstration.)
Like last year, the university will increase again financial aid by at least $1.2 million. The university’s Funds for the Future program, President’s Scholarship Initiative, and other scholarship programs will be enhanced with the creation of the ARRA Mitigation Grant program. The university will also continue the Horizon loan program for students whose family economic condition has changed due to the economic downturn such as job loss.
Graduate tuition and fees for Virginia residents will increase from $10,228 to 10,933 and move from $17,928 to 19,957 for out-of-state students. Tuition and fees for Maryland and Virginia residents attending the Virginia-Maryland Regional College of Veterinary Medicine will be $19,675, up from $18,415. Non-resident veterinary students will pay $42,704 annually.
Virginia Tech remains an excellent value when compared to comparable institutions. Earlier this year, Kiplinger ranked Virginia Tech 16th nationally among the 100 best values in public universities, and The Princeton Review ranked the university 8th nationally in a similar value ranking.
Virginia Tech’s overall cost to attend remains very competitive as compared to other Virginia schools or as compared to peer colleges and universities. Last year, Virginia Tech ranked 22 of 24 national peer universities (State Council of Higher Education for Virginia Benchmark universities) for overall cost to attend for in-state undergraduate students and 18 of 24 for out-of-state undergraduates. It is expected that metrics for the coming year will be comparable.
President Charles W. Steger added perspective to the board’s action by saying, “State support for higher education has slipped significantly in recent times. Virginia Tech receives $37 million less today for instruction than 10 years ago. During that time, undergraduate enrollment of Virginia students increased by more than 2,000, resulting in significantly less support per student from the commonwealth. Indeed, once adjusted for inflation, state support per Virginia student is about half today than at the beginning of the decade.
“Accordingly, students carry a larger percentage of the overall cost of education than in prior years. This cost shift to students and families is unfortunate but unavoidable. After decades of cuts, simple belt-tightening is not an option. In order to continue to provide the quality expected from Virginia Tech, tuition must rise.”
For further information concerning tuition and fees for 2010-11, visit the Virginia Tech Board of Visitors website.