VCU news

By Mike Porter

The Virginia Commonwealth University Board of Visitors today approved a budget for 2016-2017 that includes an increase in tuition and mandatory fees of 2.8 percent and a 1 percent reallocation from department budgets to increase student financial aid.

The budget supports the highest priorities of VCU’s strategic plan, Quest for Distinction, which emphasizes academic quality and student success. The budget provides a $5.6 million increase in university-funded financial aid to students — supported in part by a reallocation from department operating budgets of $3.1 million. The budget also includes $4.3 million for academic program growth and infrastructure, faculty recruitment and retention, and safety and compliance infrastructure.

“This budget reflects the need to balance access, affordability and the quality of our academic programs with those priorities intended to sustain a healthy future for VCU,” said VCU President Michael Rao, Ph.D. “At the same time, the budget allows us to increase the amount of university need-based financial aid to students.” 

Typical in-state undergraduate students enrolled in 15 credits will pay $13,130 in tuition and mandatory fees, which represents a 2.8 percent or $358 increase. Out-of-state undergraduate students’ tuition and mandatory fees are set at $32,287, a 2.6 percent or $824 increase.

Full-time Virginia undergraduate students enrolled prior to fall 2013 who are under the block schedule tuition model will see an increase of $317 in tuition and mandatory fees. Out-of-state students paying under the block schedule tuition model will pay $691 more.

The block schedule undergraduate tuition model will be discontinued beginning in fall 2018.

The university fee will increase $88 or 5 percent to address unavoidable cost increases and to provide additional student support such as student counseling, career services and Title IX training and enforcement. The library fee will increase by $10 to expand weekend hours.

The board approved other rate increases for the academic year, including those for advanced degrees, housing, dining and parking rates. More information can be found at budgetupdate.vcu.edu and mytuition.vcu.edu.