VCU news

By Pamela DiSalvo Lepley

RICHMOND, Va. – The Virginia Commonwealth University Board of Visitors today approved tuition and fee rates for the 2004-2005 academic year.

Total costs for a typical full-time, in-state, undergraduate living on campus will be $12,058 for the upcoming academic year, a four percent increase over 2003-2004 charges.  Full-time, out-of-state students living on campus will pay $24,322, an increase of 1.6 percent above this year's charges.

In the absence of a state budget for the next fiscal year, VCU officials said charges for the next academic year are based on a continuation budget as adjusted for enrollment growth and inflation.  "The tuition and fee rates for the 2004-2005 academic year reflect our commitment to constrain the cost of education for our students," said VCU President Dr. Eugene P. Trani.  "Future tuition increases should also be modest assuming the Commonwealth begins to address our $56 million shortfall in state funding as calculated by the Joint Legislative Committee on Base Adequacy."

Specifically, tuition and fees for full-time, undergraduate Virginia students were set at $5,138, an increase of $269 or 5.5 percent above the 2003-2004 charges.  Out-of-state students will pay $17,402, an increase of $189 or about one percent.

Room and board rates will rise by $197 or 2.9 percent, for a cost of $6,920 for a typical double occupancy room and 19-meal plan. 

VCU is continuing last year's initiative of setting market-based tuition rates for several of its high-demand graduate programs, such as medicine, pharmacy and nurse anesthesia.  "This initiative enables the university to provide targeted funding for the high priority needs of the programs with less reliance on state funding," Dr. Trani said.

The 2004-2005 tuition and fee rates adopted by the VCU Board of Visitors may be revised depending on the final actions of the 2004 General Assembly.  The state budget has a direct effect on VCU's budget and the setting of student tuition and fee rates.  The actions taken by the board today are based on the general direction of the House and Senate in earlier work on the 2004-2006 budget.  

Although a final state budget has not been adopted by the General Assembly, "it is important that we move forward with the 2004-2005 tuition and fee rates so that students and parents can plan effectively for the new academic year," Dr. Trani said. 

The VCU Board of Visitors will consider the full budget plan for the University at its regular quarterly meeting on May 21.