An aerial view of the compass plaza on Monroe Park Campus during the daytime.

Citing increased costs, inflation, VCU discusses tuition increase for 2023-24

The VCU administration presented to the Board of Visitors a range of tuition increases from 3% to 5% for fiscal year 2023-24.

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The Virginia Commonwealth University administration today presented to the Board of Visitors a range of tuition increases from 3% to 5% for undergraduate students for fiscal year 2023-24. The same range has been proposed for graduate students.

VCU senior leaders discussed the financial implications for a range of tuition increase proposals and the need for an increase, citing inflation, increasing utility costs and operational needs. The proposed budget anticipates a state-proposed 7% average merit pool increase for faculty and staff compensation. Adjunct faculty would also receive a 7% salary increase. 

Budget recommendations for students also include an increase of $190, or 6% in mandatory fees, including a $165 increase in the university fee, a $15 increase in the technology fee, a $6 increase in the health service fee and a $4 increase in the library fee, citing needs and growing costs similar to the ones associated with the tuition increase proposals. VCU’s mandatory fees remain among the lowest for Virginia colleges and universities.

Under the recommended range, typical in-state undergraduate students enrolled in 15 credits per semester would pay $16,210 at 3% to $16,470 at a 5% increase in tuition with a 6% increase in mandatory fees in the 2023-24 academic year, an increase of $568 to $828. Out-of-state undergraduate students’ tuition and mandatory fees would be set at $38,794 to $39,462, an increase of $1,206 to $1,874.

Visit here to see details about tuition and fees. The Board of Visitors invites members of the community to provide feedback at VCU 2023 Tuition & Fees Open Comment Portal. The board will also accept public comments on the proposal during the full board meeting on May 12 before taking action on the proposed tuition increase and the university’s budget. Those meetings take place at James Branch Cabell Library, 901 Park Ave., Richmond.