The University of Virginia Board of Visitors announced yesterday that it had approved a one-time $690 credit for in-state undergraduates for the 2022-23 academic year.
The rebate will erase the 4.7% tuition increase the university passed in December 2021 that was set to take effect for that academic year. It is estimated that the single credit will cost the university about $7.5 million per year. The university’s current base tuition rate for in-state undergraduates is $14,878.
The Board also approved a one-time current academic year credit of $182 for in-state undergraduates at its Wise campus, which had previously increased base tuition by 3% for 2022- 2023.
University of Virginia leaders said the decision to extend the credit “reflects changing terms that include significant additional state funding for higher education (including funds specifically to support affordable access for in-state undergraduates), cost savings, and the recommendation of Gov. Glenn Youngkin for all public colleges and universities in Virginia to find ways to keep tuition flat for the academic year In progress.
The Council’s action comes after Governor Youngkin asked Virginia colleges and universities not to raise tuition fees for the coming year. Most state public institutions agreed to freeze tuition fees, but the University of Virginia was not initially one of them. In June Youngkin named four new members to the Board of Visitors. And now the university sings a different tune.
“Setting tuition fees is one of the most important decisions that the management and board of any university make,” said Whittington Clement, rector of the university’s Board of Visitors. “Over the past several months, we have done a thorough job of assessing the Governor’s request and several other key factors that facilitated obtaining this credit, while maintaining our University’s strong financial position. This step is a positive outcome for the University and for the Commonwealth of Virginia.
“Our top priority is to maintain excellence, access and affordability here at AVU,” said university president Jim Ryan. “By taking the time and evaluating new sources of revenue, we were able to offer this credit in a way that protects these important priorities. I would like to thank the members of the University Board of Visitors and the AVU leadership team for the careful and deliberate work that led to this important decision.
Youngkin issued a statesment praising the action of the university. “The University of Virginia is one of the best universities in the country, and I thank them for working with us on behalf of Virginia families. I have encouraged colleges to keep tuition down at a time when inflation is hurting Virginia families and I appreciate that nearly all of our public universities in the Commonwealth do so.Today’s decision demonstrates that we can ease the burden on Virginia students by stopping tuition increases to provide more opportunities for Virginia students to pursue higher education.
According to the Governor’s statement, George Mason University is now the only public college in Virginia that has not yet made the decision to freeze tuition, adding that “the board’s tuition committee will make a recommendation to the entire Mason board in the near future. ”