VCU raises tuition to help offset budget cuts

By Pamela DiSalvo Lepley

RICHMOND, Va. – In an effort to help offset more than $77 million in state budget cuts, the Virginia Commonwealth University Board of Visitors today raised tuition by $300 for the spring semester.

        “Tuition increases are a painful necessity if we are to meet our commitments to the highest quality of instruction and research,” said VCU President Eugene P. Trani.  “Students, faculty and parents are deeply concerned about the impact of the budget cuts on the quality of their education.”

VCU is facing a 22 percent reduction in state support after a series of budget cuts this past year.  University officials said the additional revenue from the tuition increase, $14.1 million in the two-year budget cycle, will replace one dollar for every $2.20 in reduced state funding.

            “The funding trend for higher education in Virginia is disheartening.  State support of resident, full-time students at VCU is now less than it was 14 years ago,” Trani said.  “We need to continue to focus our collective efforts on developing new entrepreneurial initiatives and increasing private giving, among many things.”

            With the increase, Virginia undergraduates will pay $1,658 for spring semester tuition and out-of-state undergraduates will pay $7,143.

            University officials said the tuition increase will be used to increase course selections and shore up academic areas such as the libraries and computer services.  In addition, VCU will set aside 8 percent of the tuition increase for financial aid to help needy students.  This amounts to $375,000 of need-based financial aid for the spring semester and $750,000 for the 2004 fiscal year.

            The board also approved a one-time only faculty alternative severance option, a management tool which gives VCU administrators the alternative of offering enhanced retirement benefits to selected faculty in order to meet budget reductions.

            Paul Timmreck, VCU senior vice president of finance and administration, said the university has reduced its operating budget by about $28 million.  “Initial reduction plans rightfully hit general administration areas harder than academic areas.  Now academic areas will get some additional relief due to the tuition increase,” he said.