Includes reporting requirements of Code of Virginia § 23.1-307 G.

Each year, the State Council of Higher Education for Virginia (SCHEV) provides a tuition and fees report based on charges approved by boards of visitors at Virginia public institutions. The report includes a list of tuition and fee charges to in-state and out-of-state students and for undergraduate and graduate programs. It also provides trends over time and comparisons to other states and highlights affordable options students can choose to reduce costs.

The requirements for the report are outlined in the Appropriation Act and are provided to the Governor and the chairs of the House Appropriations and Senate Finance and Appropriations Committees (Item 4-2.01.b.4.b).

The following are key findings from the 2023-24 Tuition and Fees Report.

• Tuition and mandatory educational and general (E&G) fees (those fees related to instruction and supported by the state) increased by $326 (3.5%) for in-state undergraduate students at the system level.

• Mandatory non-educational and general fees (those fees related to non-instructional or “auxiliary" activities) increased by $156 (3.6%).

• The average tuition and all mandatory fees for in-state undergraduates is $14,067 a $483 (3.6%) increase from the prior year.

• Room and board charges averaged $12,626 at baccalaureate institutions, an increase of $645 (5.4%).

• Total charges at baccalaureate institutions — the average sum of tuition, all mandatory fees and room and board — are $27,662 for the 2023-24 academic year, an increase of $1,143 (4.3%) for in-state undergraduate students.

• While charges have increased, Virginia undergraduate students on average will pay 47% of the costs related to education, while the state will provide 53%, 1% lower in cost shares than last year. This percentage is still below Virginia’s cost-share policy of covering 67% of costs. SCHEV staff estimates that if the state had funded institutions at the level of the cost-share policy (67%) over time, tuition would have been as much as $2,500 (30%) lower than current levels.

• The total charges for in-state undergraduates as a percentage of per-capita disposable income remains higher than the national average at 45.9% at baccalaureate institutions.

• Students who complete an associate degree at a community college and transfer to a baccalaureate institution can save an average of $20,893 of the cost of a bachelor’s degree. Other affordable options exist for students and families, including need-based financial aid that reduces the sticker price and access to pathway programs that begin in high school. More information on affordable pathways can be found in the section beginning on page 22.

• In 2022-23, most institutions used one-time funding or deferred expenditures to hold tuition at the 2021-22 rates for in-state undergraduate students. As a result, tuition did not increase for in-state undergraduate students between 2021-22 and 2022-23. Therefore, in 2023-24 the net increase for in-state undergraduate students will be $556 (6.2%) over what in-state undergraduate students actually paid in 2022-23, at the system level.