RICHMOND, Va. -- Students at Virginia Commonwealth University will pay more for tuition, housing, dining and parking next school year.
The Board of Visitors approved its budget Friday for 2018-19 school year.
That budget includes an increase in tuition and mandatory fees of 6.4 percent for in-state undergraduate students. That means students enrolled in 15 credits per semester will pay $14,490 in tuition and mandatory fees. That’s a $866 increase from the 2017-18 school year.
Out-of-state undergraduate students will see their tuition and mandatory fees increased by $2,142 to $35,798 for the academic year.
“This budget will help the university attract and retain nationally prominent faculty members who reflect our student population, including adjunct faculty members who have been paid below the national norm for too long,” said VCU President Michael Rao, Ph.D. ”This budget helps ensure that we will provide an exceptional educational experience while staying true to our mission of advancing student success and access, including by providing an increase in financial assistance for students.”
According to the university:
The increase in tuition and fees supports providing $4.2 million for faculty positions, strategic hires and adjunct pay; $6 million in financial assistance for students; $2.8 million for utilities, library journal subscriptions, safety and compliance and building maintenance; and $6.1 million for a 3 percent merit-based increase for teaching and research faculty and a 1.5 percent merit-based increase for staff, effective Dec. 1.
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 here.
VCU’s tuition has more than doubled -- it’s up 120 percent — since the 2007-08 school year,” according to a report from Capital News Service (CSN). Back then, in-state undergraduates at VCU paid $6,196 — the fifth-lowest amount in Virginia.
During this decade, VCU’s tuition and fees have increased annually by an average of $743, or 8.4 percent, according to CNS.