RD243 - 2018-19 Tuition and Fees at Virginia’s State-Supported Colleges and Universities
The Appropriation Act directs the State Council of Higher Education for Virginia (SCHEV) to make a report annually to the governor and chairs of the House Appropriations and Senate Finance Committees on the annual change in total charges for tuition and fees approved by the boards of visitors at Virginia’s public institutions of higher education (Item 4-2.01.b.4.b).
The following are key findings from the 2018-19 Tuition and Fees Report.
1) Tuition and mandatory Education & General (E&G) fees – the portion of costs supported by the state – increased $466 (5.7%). See chart on the following page for historical trends.
• At four-year institutions, students will pay an average of $9,121, an increase of $507 (5.9%).
2) Mandatory non-E&G fees increased $146 (3.9%).
• At four-year institutions, students will pay an average of $3,874, an increase of $161 (3.9%).
3) The average tuition and all mandatory fees for in-state undergraduates is $12,545, a $612 (5.1%) increase from the prior year.
• Students at four-year institutions will pay an average of $13,370, an increase of $669 (5.3%).
4) Room and board charges will average $10,633 at four-year institutions, an increase of $348 (3.5%).
5) Total charges — the average sum of tuition, all mandatory fees and room and board — will be $24,003 for the 2018-19 academic year, an increase of $1,016 (4.4%) for in-state undergraduate students at four-year institutions.
6) Virginia undergraduate students will pay, on average, 55% of the cost of education, which is reflected as tuition and mandatory E&G fees. The state share will fall to 45%, which is 22 percentage points below the 67% outlined in the state’s cost-share policy. SCHEV estimates that if the state share were aligned with the policy goal, tuition would be as much as $3,000 lower than current levels, or about 40% less.
7) Tuition and fees at Virginia’s research institutions based on 2017-18 data are 9th highest in the nation; 5th highest for comprehensive institutions; and 8th highest for two-year institutions.
8) For academic year 2018-19, the estimated total charges at four-year public institutions as a percentage of per-capita disposable income will be 50.0%, up from 47.8% in 2017-18. For two-year institutions the percentage is 11.1%, up from 10.9% in the prior year.
9) While rising tuition and fees are a concern, additional options exist to help offset the cost of a credential or degree, including leveraging financial assistance programs, assessing net price vs. total charges, completing a bachelor’s degree through a two-year transfer program and completing the degree or credential on time.