REVISED
April 18, 2014
UNIVERSITY OF VIRGINIA
BOARD OF VISITORS
MEETING OF THE
FINANCE COMMITTEE
APRIL 23, 2014
FINANCE COMMITTEE
Wednesday, April 23, 2014
9:30 – 10:30 a.m.
Conference Rooms 103/104, Southwest Virginia
Higher Education Center
Committee Members:
Victoria D. Harker, Chair
John A. Griffin, Vice Chair
Frank B. Atkinson
Marvin W. Gilliam Jr.
Stephen P. Long, M.D.
Edward D. Miller, M.D.
Timothy B. Robertson
Linwood H. Rose
George Keith Martin, Ex-officio
Daniel M. Meyers, Consulting Member
Martin N. Davidson, Faculty
Consulting Member
AGENDA
PAGE

ACTION ITEM (Mr. Hogan)
- Undergraduate Tuition, 2014-2015 Academic Year
and 2015 Summer Session
1
UNIVERSITY OF VIRGINIA
BOARD OF VISITORS AGENDA ITEM SUMMARY
BOARD MEETING:
April 23, 2014
COMMITTEE:
Finance
AGENDA ITEM:
Undergraduate Tuition, 2014-2015 Academic Year
and 2015 Summer Session
BACKGROUND: In February 2014, the Board of Visitors set all
2014-2015 tuition and fees rates for the Academic Division, with
the exception of undergraduate tuition rates for regular
session, the School of Continuing and Professional Studies
(SCPS), 2015 summer session, and study abroad. The Board will
consider these tuition rates at its April meeting, as well as
2014-2015 tuition and fees for the University of Virginia's
College at Wise.
DISCUSSION: For 2014-2015, the University has developed a
proposal that reflects an increase in undergraduate base tuition
that will help meet the costs of addressing competitive faculty
and staff salaries, as well as increases in health care and
state-required retirement costs. In addition, a portion of the
incremental tuition revenue will be available to invest in the
University’s Cornerstone Plan.
The proposal includes 2014-2015 tuition of $10,484 for a
Virginian undergraduate and of $38,988 for a non-Virginian
undergraduate. Combined with the fees previously approved by
the Board, 2014-2015 tuition and fees for a Virginian
undergraduate are $12,998, an increase of 4.3% or $540. 20142015 tuition and fees for a non-Virginian undergraduate are
$42,184, an increase of 5.9% or $2,340. The total price of
education (tuition, required fees, housing, dining, books,
travel, and other) for a Virginian first-year undergraduate
student will increase $949 to $27,417, an increase of 3.6% over
2013-2014. For a non-Virginian first-year undergraduate
student, the price of education will increase $2,730 to $57,836,
an increase of 5.0% over 2013-2014. The differential amounts
for the McIntire School of Commerce and the School of
Engineering and Applied Science remain at levels previously
approved by the Board of Visitors.
For 2014-2015, The University of Virginia's College at Wise
recommends a $359 (4.2%) increase in tuition and mandatory fees
to $8,868 for Virginians. The College further recommends a $937
1
(4.0%) increase in tuition and mandatory fees to $24,502 for
non-Virginians. This proposal comes with the endorsement of the
advisory board of the College, which met on March 21, 2014 to
consider the tuition and fees proposal.
ACTION REQUIRED: Approval by the Finance Committee and by the
Board of Visitors
APPROVAL OF CERTAIN UNDERGRADUATE TUITION RATES FOR THE ACADEMIC DIVISION FOR FISCAL YEAR 2014-2015
WHEREAS, consideration and approval of undergraduate tuition at this meeting will serve to inform the operating budget to be presented to the Board
of Visitors at its annual meeting in June;
RESOLVED, the tuition applicable to the Academic Division is approved as shown below, effective July 1, 2014:
Virginian
NonVirginian
Percent
2013-14 Amount of
of
2014-15
Approved Increase Increase Proposed
Amount Percent
2013-14
of
of
2014-15
Approved Increase Increase Proposed
REGULAR SESSION
Undergraduate School:
Tuition
$ 10,016 $
468
4.7% $ 10,484
$ 36,720 $ 2,268
6.2% $ 38,988
McIntire School of Commerce Tuition
$ 15,016 $
468
3.1% $ 15,484
$ 41,720 $ 2,268
5.4% $ 43,988
School of Engineering and Applied Science Tuition (First- and second-year $ 12,016 $
students only)
468
3.9% $ 12,484
$ 38,720 $ 2,268
5.9% $ 40,988
Unless otherwise noted, all per credit hour tuition rates for full-time programs are derived by dividing the applicable annual tuition rate by the average course load. Such per
credit hour rates are assessed only to students who are enrolled in an approved part-time program or have been approved for a reduced load.
SPECIAL SESSION AND OTHER (per credit hour unless otherwise noted)
SCPS Undergraduate
$
334
$
334
SCPS Community Scholars - Undergrad and High School
SCPS National Criminal Justice Command College program $ 5,280
Undergraduate level (total program cost)
Study Abroad
$
309
$
$
15
15
$
238
$
2015 Summer Session, 2015 January Term, and Mt. Lake Biological Station
Undergraduate Class Credit Hour
$
334 $
2
4.5% $
4.5% $
349
349
$
788 $
$ 1,176 $
47
71
6.0% $
835
6.0% $ 1,247
4.5% $ 5,518
$ 12,090 $
555
4.6% $ 12,645
14
4.5% $
323
$
389 $
23
5.9% $
15
4.5% $
349
$ 1,176 $
71
6.0% $ 1,247
412
APPROVAL OF TUITION, REQUIRED FEES AND OTHER CHARGES FOR THE UNIVERSITY OF VIRGINIA’S COLLEGE AT WISE FOR
FISCAL YEAR 2014-2015
WHEREAS, consideration and approval of undergraduate tuition at this meeting will serve to inform the operating budget to be presented to the Board
of Visitors at its annual meeting in June;
RESOLVED, the tuition and required fees and other charges applicable to The University of Virginia’s College at Wise are approved as shown below,
effective July 1, 2014:
Full-time Students (12 hrs or more per semester)
Tuition
Required E&G Fees
Auxiliary Fees
Total Tuition and Required Fees
Virginian
2013-14 Amount
of Percent of 2014-15
Approved
Increase
Increase Proposed
Non-Virginian
2013-14 Amount
of Percent of 2014-15
Approved Increase Increase Proposed
$
$
$
$
$
4,676
125
4,801
3,708
8,509
$
$
$
$
$
186
25
211
148
359
4.0%
20.0%
4.4%
4.0%
4.2%
$
$
$
$
$
4,862
150
5,012
3,856
8,868
$
$
$
$
$
19,100
757
19,857
3,708
23,565
$
$
$
$
$
764
25
789
148
937
4.0%
3.3%
4.0%
4.0%
4.0%
$
$
$
$
$
19,864
782
20,646
3,856
24,502
$
$
$
$
208
208
81
25
$
$
$
$
808
808
236
25
$
$
$
$
32
32
9
-
4.0%
4.0%
3.8%
0.0%
$
$
$
$
840
840
245
25
Students taking more than 18 credit hours per semester must pay for the additional hours at the tuition rates listed below.
Other Charges
Part-time Students (less than 12 hours per semester)
Off-Campus Instruction per hour
Non-Credit Courses per unit
Application Fee
Registration Fee for part-time students will be $5 per semester hour.
$
$
$
$
200
200
78
25
$
$
$
$
8
8
3
-
4.0%
4.0%
3.8%
0.0%
RESOLVED FURTHER, the Executive Vice President and Chief Operating Officer is authorized to approve reduced tuition rates for residents of
Kentucky and Tennessee who live in counties that are within a 50-mile radius of The University of Virginia’s College at Wise and who are enrolled at the
College in accordance with Section 23-7.4:2.F. of the Code of Virginia.
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