The federal stimulus package has lent some breathing room to UVA’s constricting financial situation. On Monday, April 13, the Board of Visitors approved a lower-than-expected tuition increase for both in-state and out-of-state students. Virginians, who comprise 69 percent of the student population, will pay $375, or 5 percent, more per year to a total of $7,873.
About $10.2 million in stimulus money was allocated to the University, making the small in-state increase possible.
For out-of-state students, however, the board approved a higher-than-expected 7.5 percent increase, or $2,075, for a total of $29,873 a year. The increase is also part of a decision by the General Assembly to increase capital fees for non-Virginians from $2 to $10 per credit hour.
According to a UVA press release, more than a third of the revenue from the increases in tuition will go to AccessUVA, the University’s financial aid program, spearheaded by the late admission dean Jack Blackburn. More than half of the students who receive aid are in-state students.
Other increases include the undergraduate housing cost, up 5.1 percent, and meal plans, up 5.4 percent. In-state graduate students will see their tuition and fees increase a little over 4 percent to $12,635 and out-of-state graduate students will pay 2 percent more for a total of $22,635. Darden School of Business in-state tuition and fees will increase by 7.4 percent to $43,500 a year, and out-of-state tuition to $48,500 a year. In-state law students will see an increase of 5.4 percent to $38,800 a year, and out-of-state $43,800 a year.
UVA fares well against two other big public schools in adjacent states. The University of Maryland says it will freeze tuition for a year, and in-state students will end up paying exactly what last year’s freshmen paid, $8,005. The university is still unsure about possible changes to current out-of-state tuition, $23,076. If you really want a bargain, head over to Chapel Hill. In-state students attending the University of North Carolina at Chapel Hill will pay $3,865 in tuition. For out-of-state, tuition is $21,753. In these dire economic times, anyone want to be a Tar Heel?
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