Uncommon impact: VCU pairs efficiency with affordability

By Brian McNeill

At Virginia Commonwealth University, the data shows that the university has long prioritized and remains committed to keeping costs as low as possible — despite national higher education trends. 

For students from households earning less than $110,000, there was zero growth on average in the net price of a VCU education from 2019 to 2024. 

Overall, the net price of a VCU education grew by only 8%, despite 22.5% inflation over that same period.

A commitment to opportunity

At VCU, affordability is not an afterthought; it is a core part of the university’s strategy to expand opportunity and support student success, said Hernan Bucheli, Ed.D., vice president for strategic enrollment management and student success. 

“Our goal is simple: to make a high-quality, nationally recognized research university education accessible to talented students while maintaining strong outcomes and long-term value," he said.

Since fiscal year 2020, VCU’s Board of Visitors has implemented modest tuition adjustments below the rate of inflation, with no tuition increases in fiscal years 2020, 2021 and 2022, due largely to support from the commonwealth of Virginia and internal budget realignments. VCU’s average annual tuition increase between 2019-20 and 2024-25 was 2.4%, compared with the Consumer Price Index average increase of 3.9% and the Higher Education Price Index average increase of 3.5%.

“Over the past several years, we have worked intentionally to limit tuition growth while increasing the amount of financial support available to students,” said David Allen, Ph.D., VCU deputy chief financial officer and associate vice president for finance. “Over the last five to six years, annual tuition increases at VCU have remained below the rate of inflation, while institutional, state and federal aid have grown significantly. The result is that many families, particularly those earning under $110,000, have seen little to no growth in their net price to attend VCU.”

Another important factor is the value students receive for that investment, Allen said. 

“VCU is a major research university with a fully integrated academic health campus, providing access to nationally recognized programs and clinical experiences that are not widely available elsewhere in the region,” he said. “Our goal is to help students from all backgrounds access those opportunities without cost becoming a barrier.”

Increased support and an emphasis on efficiency

Between 2019-20 and 2024-25, institutional, state and federal financial aid grew 15%, helping VCU students afford the cost of a VCU degree.

VCU has also made it a priority to shorten students’ time to graduation, and it currently has the highest four-year graduation rate in its history. 

As a result, VCU students’ median debt has declined by 4%. 

“We are focused not only on affordability at the point of enrollment but also on helping students graduate with manageable debt,” Allen said. “The decline in median student debt over the last several years reflects a combination of increased financial aid, responsible tuition management and institutional efforts to support student success and timely graduation.”

The Joint Legislative Audit and Review Commission’s 2024 Spending and Efficiency in Higher Education report found that higher state general fund support has enabled VCU to minimize growth in tuition. 

The JLARC report also found that VCU is Virginia’s most efficient university based on spending per full-time student.

Over the past 10 years, VCU has implemented over $110 million in budget cuts and realignments. 

VCU is also navigating significant budget challenges that are increasing costs for the university. 

The number of students attending VCU through the Virginia Military Survivors and Dependents Education Program has climbed from 166 students in 2018 to a projected 1,822 students in 2027. The program enables family members of disabled veterans to attend Virginia colleges without paying tuition or fees. The commonwealth currently helps VCU cover some of the costs, but the program is expected to still cost the university $20.6 million next fiscal year.

All told, VCU anticipates that mandatory, critical and inflationary costs —  including military waivers and mandatory state salary increases — will total $32.2 million in fiscal 2027.

Notably, VCU faces academic costs other universities do not. VCU is the only university in Virginia and only one of 12 in the U.S. that graduates students across all health science disciplines — medicine, dentistry, pharmacy, nursing, public health and health professions. The cost of offering VCU’s health sciences degrees is approximately 3.5 times higher than other academic degrees. Roughly one-quarter of VCU graduates are in the health sciences.

Along with VCU’s focus on affordability, the university is also committed to accessibility. 

“VCU’s focus has been on ensuring that access to a high-quality education remains within reach for the students and families we serve,” Allen said. “While our students arrive well-prepared for college (entering with an average GPA of 3.65 and typically bringing about 18 college credits), many are also the first in their families to attend college or come from communities that historically have had less access to world-class research institutions. Keeping the university affordable is central to our mission of expanding opportunity.”