The Virginia Tech Board of Visitors will meet on Monday, March 22, at 1:15 p.m. in Latham Ballroom at The Inn at Virginia Tech, 901 Prices Fork Road, Blacksburg, to consider tuition and mandatory fees for the 2021-22 academic year.
Virginia Tech’s tuition and fees strategy is intended to support the university’s strategic plan within the context of the various budget implications of the state’s general assembly actions and other major initiatives that impact university costs in the upcoming year.
Over the past several years, the board has sought to balance the affordability of a Virginia Tech education with targeted investment that will position the university as a global leader in teaching, research, and innovation. With a heightened focus on student affordability amidst the ongoing COVID-19 pandemic, the university has leveraged incremental state funding with cost containment strategies, administrative efficiencies, and the reallocation of existing resources to support these high-priority needs.
As a result of these continued efforts, the board was able to freeze tuition increases for a second straight year for in-state undergraduates in 2020-21. The board also held tuition increases to 2.9 percent in each of the prior three years, all while making a sustained commitment to critical initiatives that will advance Virginia Tech’s mission as a leading global land-grant institution.
On March 22, the board will consider a combination of cost containment and revenue enhancement strategies that will address the increasing costs of personnel, fringe benefits, fixed costs, continued investment in academic programs including faculty, and the enhancement of high-demand student support services.
To further advance affordability, the university will continue working to expand private philanthropy in support of the university and increase student financial aid programs, namely the university’s Funds for the Future program, which offsets the cost of tuition and fee increases on returning students with family incomes up to $100,000.
Final decisions are contingent upon the outcome of the general assembly session, when total mandated costs and the level of state support are fully understood by the university. The following ranges of tuition and Educational and General (E&G) fee adjustments for fall 2021 will be considered by the Board of Visitors:
Virginia resident undergraduates: Tuition and E&G fees may increase between 0 percent and 2.9 percent.
Non-resident undergraduates: Tuition and E&G fees may increase between 0 percent and 2.9 percent.
On-campus graduate students: Tuition and E&G fees may increase between 0 percent and 2.9 percent.
All students: Mandatory fees may increase up to $90 to support mandated cost increases, including employee benefits and compensation as well as enhancements in student health and counseling services.
These recommendations are designed to continue Virginia Tech’s trend of below-average increases in undergraduate tuition and fees, made possible through commonwealth investment and the university’s focus on cost containment and strategic allocation of limited resources.
