Proposed VCU budget will not increase tuition for first time since 2001
RICHMOND, Va. — A proposed budget for Virginia Commonwealth University’s upcoming school year freezes undergraduate tuition rates for the first time in nearly 20 years.
Proposed on Monday by president Michael Rao and Chief Financial Officer Karol Gray, the freeze was enabled by a recently approved General Assembly incentive setting aside $57.5 million to Virginia colleges and universities that pledge not to increase tuition.
Upon approval by VCU’s Board of Visitors, tuition will remain at $12,094 for in-state students and $37,742 for students attending hailing out-of-state.
Despite the freeze, students will see a $106 increase in the university’s mandatory fees, a cost that encompasses library, technology, health, and student activity expenses.
Rams will also see increases in non-mandatory fees. Housing fees will increase by $191 while $104 will be tacked on to dining rates. Parking rates will increase by $20.
The freeze marks the first time students and their families will be spared of tuition increases since 2001 when in-state tuition stood at $1,837.50. By 2008, tuition had risen to $6,779, and by 2018, $14,460.
The proposed budget also features pay increases for faculty and staff, raising salaries by 3 percent in 2019 and 4 percent in 2020.