VCU news

By Pamela DiSalvo Lepley
Division of University Relations

The Virginia Commonwealth University Board of Visitors today approved an operating budget for 2009-2010 that includes increases in tuition and fees for the upcoming academic year.

In-state tuition and mandatory fees for typical, Virginia undergraduate students will increase $338, or 5.0 percent, for a total annual cost of $7,117. At this level, VCU’s tuition and fees for the 2009-2010 academic year will remain the lowest among Virginia’s doctoral institutions.
 
“These are difficult economic times for our students and their families, as well as for the entire university. We worked very hard to keep cost increases at a minimum,” said VCU President Eugene P. Trani. “Funding from the federal stimulus package was key in helping VCU mitigate tuition increases while still providing the foundation of what our students need to be successful in their academic careers.”

Trani said need-based student financial aid from all sources will increase 8.6 percent in fiscal year 2009-2010 to help ease the impact of the tuition and fees increases. Total student financial aid for the upcoming academic year will be $69.7 million.

State support for educational programs was reduced by $34.5 million compared to the budget plan adopted last year. The temporary federal stimulus funding will offset $20.5 million of the state reductions.

“With enrollment growth driven by improved student retention, three new buildings coming on line, and cost increases in utilities, maintenance contracts and leases, budget development was extremely challenging,” said John M. Bennett, senior vice president for Finance and Administration. “We have made tough choices in every area of VCU’s operations – focusing our resources on our highest academic priorities.”

The VCU Board approved several other rate increases:

•    Undergraduate tuition and fees for out-of-state students will increase $1,025, or 5.2 percent, to $20,749. The out-of-state rate includes a $240 increase in the annual capital outlay fee mandated by the state General Assembly to offset the cost of state debt service paid for academic buildings.

•    The average annual cost for university housing and meal plans will increase $365, or 5.9 percent, to $6,579.

•    Tuition and fees for in-state master’s students will increase $533, or 5.7 percent, for a total cost of $10,014. Costs for out-of-state master’s students will increase $966, or 5.3 percent, for a total cost of $19,177.

•    Tuition and fees for in-state doctoral students will increase less than 1 percent, to $9,122, and 1.8 percent for out-of-state students, to $18,210.