Tuition Differentials and Guaranteed
Rates at Virginia Tech
Tim Hodge
AVP for Budget & Financial Planning
November 13, 2013
Virginia Tech
Overview
 Environment
 Tuition generally central resource
 Base budget
 Currently do not guarantee future tuition prices
 Have implemented differential pricing in select
disciplines
2
Increased Financial Aid in Lieu
of Guaranteed Tuition
 VT generally does not provide tuition price
guarantees
 VT does offer increasing financial aid to help
returning students mitigate tuition increases
Funds For the Future
Family Income (AGI)
3
Tuition & Fee Increase Protection
$0 - $29,999
100%
$30,000 - $49,999
75%
$50,000 - $74,999
30%
$75,000 - $99,999
20%
Multi-Year Price in Executive
Graduate Programs
 Executive programs that have fixed total cost for
the multi-year programs
 Wrapped ~2 years of existing structure and
differential into a single executive price:
Spring 2013 Cohort
XMNR Total Cost
Less: Tuition & Fees
XMNR Fee
4
EXTERNAL
Two-Year
Program
Cost
$ 42,000
INTERNAL
2012-13 2013-14
$20,691 $21,309
(11,885) (12,469)
$ 8,806 $ 8,840
Differential Pricing
Background
Recognized environment
 Financial Stress
 Significant Base Budget Adequacy shortfall
 Consider funding realities
 Outlook on state support
 Sensitivity to general tuition increases
 Innovation in pricing
 Costs vary by program (STEM)
5
Differential Pricing
Driven by needs
 Strategic plan
 Example
 College of Engineering instructional lab
improvements.
 Unique costs in Architecture
 Needs in the area of laboratory operations
 Rate and pace of change
6
Differential Pricing
Research




Programs that differentials are common
Assessment models
Benchmarked differentials at peers (rate, frequency)
Need to mitigate financial impact on students
Reached out to other institutions to obtain the best
practices/lesson learned
 Student behaviors: if differential attached to major, students may
delay declaring to avoid the charge.
 Campus behavior: incentive/disincentive to provide service
teaching at the undergraduate level
Reviewed VT experience:
7
 Existing differential tuition in Vet Med
 Graduate students generally take courses closely aligned with
major
Differential Pricing
Internal discussions
 Academic community: rationale, student perception,
communication strategy
 Need
 How to explain value received—not tuition
 Bursar’s Office: feasibility of implementation strategy
 Office of Student Financial Aid
 Potential student impacts & mitigation strategies
 Graduate School
 Graduate tuition remission program considerations
 Sponsored Programs
 Allowable charge on grants & contracts
 Leadership: overall feasibility
8
Differential Pricing
Budget Considerations
Integration with existing funding structures:
 External funding environment:
 Interaction of state’s NGF cost assignments
 Equipment Trust Fund
 Base Adequacy
 Internal budget environment
 Tuition, program fees, course fees
 Base budget environment
 Earmarked revenues
9
Differential Pricing
Considered various models
 Across-the-board tuition
 Differential tuition
 Program/major fees
 Specialized Graduate Programs
 Executive Education
 Course fees
 Laboratory fees
 Charges for extraordinary supplies, materials, or
other costs
 Specialized campus fees
10
Differential Pricing
Cost analysis
 Studied program costs & needs
 Examined if cost correlated with:
 Major
 Course
 Student
 Broader associated funding needs:
 Student Financial Aid
What did we NOT consider
 Expected income of graduates
11
Differential Pricing
Examples
 Engineering
 Undergraduate
 Graduate
 Architecture
 MBA
 PMBA
 ART 2544
 BIOL 1015
12
$33 per credit hour
$792 per academic year
$715 per academic year
$3,900 per academic year
$37,500 resident ($58,500 non)
$120 materials charge
$70 lab fee
Pricing Principles
 Fairness: across-the-board tuition average costing vs.
aligning cost with benefits
 Undergraduate level: students are exploring different
courses, university supports a service teaching model;
differential tuition generally charged per course
 Except architecture where costs are driven by major
 Graduate level: students are more specialized in
particular areas; differential tuition charged by
program.
 Sensitive to respect “deal” with existing students
 Phase in new differential over 3 years, one cohort at a time
 Avoid Course Fees in programs with Program Fee
13
Implementation/
Lessons Learned
 One size does not fit all
 Educate (e.g. BOV)
 Work with offices of Bursar, Financial Aid, and
Sponsored Programs
 Discuss/plan for accounting & budgeting
implications
 Phased-in approach seemed to be well received
14
Implementation/
Lessons Learned
 VA prepaid tuition plan does not cover differentials
 Tuition does not include charges for a particular major, class or
course of study, including lab fees or differential tuition
 Faculty reinvigorated
 Ensure that academic leaders are prepared to
communicate (from prospective student to parents as well
as other institutions)
 Be clear about the cost and the benefit - publish in
advance
15
Questions?
Implementing W&M’s Fourth Century Vision
The William & Mary Promise
A NEW
OPERATING MODEL
for Enhancing and Sustaining
Quality, Affordability and Access
at Virginia’s distinctive
Public Ivy
Governor’s
Higher Education
William & Mary
Strategic Plan
William
&
Mary
Promise
Commission
-- Six-Year Plan
-- Higher Education
Advisory Committee
(HEAC)
18
A new business model that will:

Secure a sustainable future for Virginia’s distinctive
“public ivy,” as recognized by the Governor’s Commission

Relieve the “middle-class squeeze” by reducing net tuition for
middle-income Virginians as defined by the Governor’s Commission

Give all incoming Virginia undergraduates and their families an
innovative, ironclad four-year promise that tuition won’t rise

Reduce the student loan debt burden faced after graduation by
middle-income Virginians

Provide access to W&M degree opportunities for more Virginia
students

Attract and retain top national and international faculty

Lead the way in faculty productivity and “TJ21” reforms

Preserve the educational experience that makes W&M
one of America’s most coveted higher education institutions in the
world
19
The William & Mary Promise

In-State undergraduates

Predictability in tuition

CPI for continuing students

Four-year tuition guarantee for entering students
20
Tuition Program to Implement Six Year Plan – Returning Students
FY 2013 – FY 2016: Tuition Increase at Annual CPI Increase
$8,778
$8,936
$9,150*
* Assumes projected rate of inflation of 2.4% annually.
$9,370*
21
Tuition Program to Implement Six Year Plan – New Students
FY 2014 – FY 2016: Three Year Step Change for Freshmen with Four Year Guarantee
$13,978
$12,428
$10,428
22
The William & Mary Promise

Affordability
▄
Reduce “net price” for middle-income families

▄
HEAC definition
Reduce debt levels



≤ $40,000
> $40,000
> $60,000
< $60,000
< $100,000
Cumulative Four-Year Debt
FY 2013
FY 2014
$ 0
$ 0
$22,000
$14,000 (-36%)
$22,000
$18,000 (-18%)
23
How the restructured pricing model will work:
Reduced “net price” for middle-income families with financial need
Example: Family of Four with Two in College,
Household Income of $100,000
2012-2013 Financial Aid Under Current Costs and Packaging vs.
2013-2014 Financial Aid Under Proposed costs and Packaging
$32,000
$24,000
$16,000
$8,000
$9,623
$12,950
$5,500
$4,500
$1,900
$1,900
$9,115
$16,515
net price
$9,115
$15,515
net price
$0
2012-2013
Family Contribution
2013-2014
Work-Study
Loans
Grants
24
The William & Mary Promise

Accessibility

Additional 150 in-state undergraduate slots

8% growth in in-state undergraduate
enrollment over 7 years
25
VCU’s Tuition Restructuring
Pamela A. Currey
Associate Vice President Finance & Administration
November 13, 2013
27
VCU – History and Context
•
•
•
•
•
•
Funding history with the state - declining
Historical in/out-of-state student mix – 90% Virginian
Rapid enrollment growth over >15 years
Historically low tuition and fees – under $10,000
Research-level activities and infrastructure - expensive
Ambitious strategic plan – Top 50 Public research
• All combine to create challenges and opportunities for our collective
future….
28
Challenge: State Funding Trend
Reductions in state support over the past >10 years are evident. Although
cuts stopped with the 2012-14 biennial budget, trends show a clear shift in
cost burden
Cost to Educate per Student FTE
$25,000
$20,000
Total Funds
$20,121
Tuition and Fees
$13,109
$16,036
$15,000
$10,262
$10,000
State Support
$6,197
$5,012
$5,000
All Other
$761
$815
$0
FY 01
FY 02
FY 03
FY 04
FY 05
FY 06
FY 07
FY 08
FY 09
FY 10
FY 11
FY 12
FY 13
29
Challenge: State Funding Facts
• Virginia is not a high spending state
– State tax burden (revenue as % of personal income)
consistently ranks in the lowest quartile among all states
• Higher education is a discretionary budget expense
– Virginia ranked #42 for higher education support per $1,000 of
personal income (State Higher Education Finance, SHEEO, 2012)
– VCU lost net $63.5 million in state E&G operating support
between FY 2008 and FY 2012
– FY 2013 has shown a partial restoration of state funding
30
Challenge: VCU Revenue Mix
FY 2003
Other Sources
5%
Sales and Services
9%
State Appropriations
34%
Grants and
Contracts
26%
Tuition and Fees
26%
VCU is a complex business,
with a mix of funding sources
for total funding and in FY
2013, VCU will collect $920.3
million
Revenue mix for total funding
has changed over the past
decade. In FY 2003, state
support made up 34% VCU’s
revenues and student tuition
26%.
FY 2013
Other Sources
4%
Sales and Services
16%
State Appropriations
20%
Grants and Contracts
20%
Tuition and Fees
40%
31
Challenge: Traditionally Low Tuition Base
For resident undergraduates, VCU tuition and fees has been low
compared to doctoral and comprehensive institutions – and far lower
than the other Tier III schools.
FY 2012-13
Institution
Tuition & Fees
Virginia Military Institute
$13,835
William & Mary
13,570
University of Virginia
12,006
Virginia Tech
10,923
Longwood University
10,890
Christopher Newport University
10,572
Virginia Commonwealth University
9,885
George Mason University
9,620
University of Mary Washington
9,246
James Madison University
8,808
Radford University
8,590
Old Dominion University
8,450
UVa-Wise
8,107
Virginia State University
7,420
Norfolk State University
6,860
Tier III Institutions
14,000
$13,570
Average = $11,596
$12,006
12,000
$10,923
$9,885
10,000
8,000
6,000
W&M
UVa.
Va. Tech
VCU
Source: SCHEV Tuition and Fee Report, 2012
32
Dealing with the Challenges/Resourcing Quest
• VCU’s strategic plan, Quest for Distinction, requires the appropriate
dedication of resources for success.
• Recognizing the challenges of declining state funding and the need
to resource Quest and the challenge of VCU’s low tuition also proved
to be an opportunity, VCU leadership determined to restructure the
undergraduate tuition base.
• Ongoing operational and management efficiencies were
recommended to the board and adopted to provide additional
revenues without increasing tuition.
• Reviews of faculty productivity, and unit and faculty evaluations and
resources were undertaken.
33
Tuition Restructuring
34
Opportunities/Solutions – Market Based Tuition Pricing
• For over a year, tuition pricing models were explored to assess the
impact of market based models on revenues, student behavior, and
student success
• Huron Consulting Group assisted VCU in reviewing options, including:
1)
2)
3)
4)
5)
6)
Credit Hour Pricing – All Undergraduates
Credit Hour Pricing – AY2014 Incoming Freshmen & Transfers
Program of Study Differentials
Upper Division Pricing
Increasing Tuition Equivalent to Tier III Institutions
Tuition Changes in Summer Semester
• Tuition revenue modeling was completed on all models
• Extensive student focus groups and surveys were completed
• Benchmarking and review of national practices was completed
35
Timeline – FY 2014 Tuition Restructuring Analysis
• August 2012
• Nov 2012-Jan 2013
• Feb-Mar, 2013
• April 14, 2013
• April 15-30, 2013
• May 1-9, 2013
• May 10, 2013
• July 1, 2013
University Budget Advisory Committee Holistic, Budget Process
Internal Workgroup, Contract with Consultant, analysis of models
Student Focus Groups and Survey w/ 15% return
Brief Council of Deans, Vice Presidents
BOV Retreat
Review of Proposals and Discussion within University Community
Discussions with individual BOV members
6 student Forum meetings (seeking suggestions, reactions, feedback)
Analysis of options for revenues and varying structures
Scrubbed analysis and implemented student support suggestions
Built penultimate T&F model for review by senior leadership
Answer Final Questions
Briefed University Council
Created Final Budget Model and prepare Final Budget Book
BOV vote on Tuition, Fees and Budget
Implementation of approved Budget
36
Solutions – Credit Hour Tuition (All Students)
•
Summary
Each credit hour is priced separately vs. “block”
pricing for 12-18 credit hours
_______________________________________________________________________________________________________________________
•
•
•
•
•
VCU Impact
Student Impact
Annual Gross Revenue
Potential Melt
Advantages
•
Challenges
•
Considerations
Positive inflow of additional revenue
Student Survey data to be discussed
$31.2M revenue potential*
Student Survey results to be discussed
Provides more accurate information for
use of VCU resources; encourages students to
recognize need to take >12 credit hours
Impact to lower SES students; ensuring students
understand changes in how tuition is charged
72% of degree students take more than 12 credits
per semester; need to consider discounting
strategies and provision of off-setting financial aid;
create educational materials
*Assumes reduction in gross revenues based on change in student course taking behavior.
37
Solutions – Credit Hour Tuition (New Students)
•
Summary
Each credit hour is priced separately vs. “block”
pricing for 12-18 credit hours
_______________________________________________________________________________________________________________________
•
•
•
•
•
VCU Impact
Student Impact
Annual Gross Revenue
Potential Melt
Advantages
•
Challenges
•
Considerations
Positive inflow of additional revenue
Student Survey data to be discussed
$4M revenue potential*
Student Survey results to be discussed
Provides more accurate information for
use of VCU resources; encourages students to
recognize need to take >12 credit hours; would not
impact existing students (only new to VCU)
Impact to lower SES students; ensure students
understand changes in how tuition is charged
72% of degree students take more than 12 credits
per semester; need to consider discounting
strategies and off-setting financial aid
*Assumes reduction in gross revenues based on change in student course taking behavior.
.
38
Solutions – Program Differentials
•
Summary
Students in specific majors and/or schools would
have a different “sticker price” for program(s)
_______________________________________________________________________________________________________________________
•
•
VCU Impact
Student Impact
•
•
•
Annual Gross Revenue
Potential Melt
Advantages
•
Challenges
•
Considerations
Potential to decrease revenue; leave VCU
In 2010 potential existed in a few majors to
institute/ increase differentials. VCU did so.
Strong student sentiment against that now
$0-($62)M* potential reduction in revenue
Depends on major and program
Provides additional resources to those programs
that cost more to produce a graduate
Impact on lower SES students; can create “haves”
and “have nots” across academic units
Educate and communicate; if undertaken there
should be significant time spent educating students
regarding need/justification for differentials
*Revenue change depends on what programs implement differentials.
39
Solutions – Upper-Division Pricing
•
Summary
Students would be charged a premium per upperdivision credit credit hour
_______________________________________________________________________________________________________________________
•
•
VCU Impact
Student Impact
•
•
•
Annual Gross Revenue
Potential Melt
Advantages
•
•
Challenges
Considerations
Potential to increase revenue;
A 10% increase in upper division courses would
likely yield a reduction in course taking behavior
Strong student sentiment against
$6.9M* potential increase in revenue
Student Survey results to be discussed
Provides additional resources to those programs
that cost more to produce a graduate
Impact on lower SES students
Educate and communicate; if undertaken there
should be significant time spent educating students
regarding need/justification for differentials
*Assumes reduction in gross revenues based on change in student course taking behavior.
40
Solutions – Tier III Equalization
•
Summary
Raise VCU’s tuition and mandatory E&G fees to
level of the Virginia Tier IIIs in 1, 3, or 5 years
_______________________________________________________________________________________________________________________
•
•
•
•
•
VCU Impact
Student Impact
Annual Gross Revenue
Potential Melt
Advantages
•
Challenges
•
Considerations
reach
Additional revenue stream
Could impact application/enrollment volume
$7.1-42.0M* additional revenue
Significant enrollment impact could occur
Additional revenues to VCU in recognition of the
mission and high cost majors VCU provides; would
allow added support for mission and STEM needs.
Impact on lower SES students; sticker shock if done
in the short term
Create educational materials; difficult to do in one
year, would need to be phased
*Revenue change depends on how many years to reach goal and which Tier III is the goal. $7.1 is a 5-year goal to
CWM; $42M is a 1-year goal to reach UVA.
41
Solutions – Summer Tuition Increase
•
Summary
Tuition would increase in the summer prior to a
new academic year; and then again in new year
_______________________________________________________________________________________________________________________
•
•
•
•
•
•
VCU Impact
Student Impact
Annual Gross Revenue
Potential Melt
Advantages
Challenges
•
Considerations
Additional revenue
Possibly encourage students to finish earlier
One time revenue bump contingent on % increase
Minor
Revenues from the one-time revenue bump
Creates some financial uncertainty for student
planning for summer; works at cross-purposes with
making summer a “true 3rd semester;” only 2 VA
institutions continue practice (GMU recently
stopped this practice)
Create educational materials
42
Notes from Student Focus Groups and Surveys
•
Huron Consulting Group held focus groups with students and formulated
a survey that went to all VCU undergraduates about the tuition strategies
under consideration
-
Strong participation in the survey (15%) provided good insight into
student reaction to the various models
-
Upper/Lower Division pricing was found distasteful by VCU students
-
Increases to existing program differentials were not found to be
feasible
-
A cohort based model, while intuitively appealing, was revealed to be
problematic for many VCU students and unsustainable given VCU’s
lack of a strong endowment
-
Per Credit Pricing is understandable by students
43
Notes from Student Focus Groups and Surveys
• Students had insights about a per credit structure – understanding its
difference from the current model and what should be done if VCU moved in
that direction
- “I agree that the more credits you take, obviously, the more you should
pay.”
- “Personally, my first semester, I signed up for 18 and ended up
withdrawing from one of them and after the add/drop period, you don’t
get your refund, so I think it’s kind of a failsafe, too, because a lot of
people that sign up for all those credit hours, they end up dropping a class
anyway . . . If I knew they were charging me per credit hour, I probably
would not sign up for that many, most definitely.”
- “I don’t think it’s fair for someone that’s taking 12 credits because they do
have to pay, for them to be paying the same as somebody who is taking 18
credits. I don’t believe that’s fair.”
44
Post BOV Retreat Student Forums
• The Provost, SVP/COO and their teams met with 6 separate student focus
groups in April and May following the BOV retreat to gain further insight into
students’ views on the following:
-
Tuition and E&G fee increases for continuing undergraduate and graduate
students (in-state and out-of-state);
Per Credit Hour Tuition Structure for (1) all continuing and new
undergraduate students, or (2) new students only;
Improving communications with students about changes in tuition and
fees and other matters of importance generally;
Ongoing interactions with students about VCU budgets and plans.
• Students’ responses were similar to the earlier focus groups and surveys, with
additional insight provided that helped shape our recommendations.
45
Board Members and Students Asked
• At the Board retreat and in subsequent conversations, Board members
emphasized the need to provide tools to students; focus groups provided
similar direction.
• Existing and forthcoming resources will be better publicized:
-
MyTuition.vcu.edu (www.mytuition.vcu.edu)
Budgetupdate.vcu.edu (www.budgetupdate.vcu.edu)
Tuition and Fees Calculator website (www.enrollment.vcu.edu)
Financial Aid Checklist (www.enrollment.vcu.edu)
DegreeWorks
College Scheduler (coming Summer 2013)
• Additional materials have been developed to help students access courses and
optimize credit-taking practices and added training for academic advisors.
46
FY 2014 Revenue Package
Adopted Action: Increase base tuition rate for continuing students and change the
tuition structure for new and incoming students and engage in operational changes and
improve efficiencies in several areas:
1.
Increase Base Tuition: Approve a $314 increase for in-state undergraduate tuition with a similar percentage
increase (4.0%) for other undergraduate and graduate students; approve increases to fees and unique first
professional rates as noted on following slide and more completely in the Proposed Tuition and Fee and
University Budget Plan FY 2013-14 ($9,401,847 resulting revenue); and
2.
Tuition Structure: Approve a per credit hour tuition model for new undergraduate students (freshmen and
transfer) starting in the Fall 2013 and ongoing, with a 50% reduction in the per credit hour charge at 15 credit
hours and greater ($4,000,000 resulting revenue* net of discount and additional cost of scholarships); and
3.
On-Going Operational Change: Approve outsourcing of housekeeping and centralization of maintenance staff and
utility management for all auxiliaries and use the FY 2014 savings to cover Financial Aid needs ($1,293,083
resulting revenue with higher savings expected in future years); and
4.
Improve Efficiencies: Approve limitation of external sponsorships, unify and mandate travel services, continue IT
optimization efforts per approved plan, continue improved financial management and oversight; approve the
provision of $1.0M in excess investment earnings from these types of efforts in FY 2013 to cover transition costs
and “hardship” financial aid as needed during the transition to a per credit hour structure.
* Actual revenues will vary depending on student course-taking behavior
47
FY 2014 Tuition and Fees
•
Adopted Action: Combined tuition and mandatory fees increases of:
Percent
Change
$
Change
4.19%
414
Continuing Virginia Undergraduates 1
3.98%
951
Continuing Nonresident Undergraduates
4.18%
481
Resident Masters level students 2
3.98%
884
Nonresident Masters level students 2
4.21%
415
Resident Doctoral Students 2
3.98%
770
Nonresident Doctoral Students 2
1.95%
596
Resident Medicine 3
3.02%
1,375
Nonresident Medicine 3
9.96%
3,693
Resident Dentistry 4
6.60%
4.19%
4.07%
4,089
1,064
1,467
Nonresident Dentistry 4
Resident Pharmacy
Nonresident Pharmacy
Student Classification
1
Typi ca l Monroe Pa rk Undergra dua te, no progra m di fferenti a l s
2
Typi ca l Monroe Pa rk progra m
3
Medi ca l Students M-I
4
Fi rs t Yea r Denta l Students
48
What Will Continuing Students Pay with Increase?
Regular Session
2012-13
Resident
2013-14
Continuing Full-Time Students, On-Campus
Undergraduates Living In Private Housing
Monroe Park Campus
Tuition
$7,860.00
University Fee
$1,657.46
Technology Fee
$83.00
Health Service Fee
$195.00
Student Activity Fee
$90.00
Capital Outlay Fee
n/a
Total
$9,885.46
Undergraduates Living In University Housing
Monroe Park Campus
Tuition
$7,860.00
University Fee
$1,657.46
Technology Fee
$83.00
Health Service Fee
$195.00
Student Activity Fee
$90.00
Capital Outlay Fee
n/a
Housing (1)
$5,292.00
Board (2)
$3,456.00
Total
$18,633.46
$8,174.00
$1,757.46
$83.00
$195.00
$90.00
n/a
$10,299.46
$8,174.00
$1,757.46
$83.00
$195.00
$90.00
n/a
$5,454.00
$3,628.00
$19,381.46
$ Chg.
Nonresident
2012-13
2013-14
$414.00
$21,275.00
$1,657.46
$83.00
$195.00
$90.00
$612.00
$23,912.46
$22,126.00
$1,757.46
$83.00
$195.00
$90.00
$612.00
$24,863.46
$951.00
$748.00
$21,275.00
$1,657.46
$83.00
$195.00
$90.00
$612.00
$5,292.00
$3,456.00
$32,660.46
$22,126.00
$1,757.46
$83.00
$195.00
$90.00
$612.00
$5,454.00
$3,628.00
$33,945.46
$1,285.00
$ Chg.
(1) Representative charge for double occupancy.
(2) Assumes 200 block plan w/ $300 per semester in "Dining Dollars".
49
What Will New Students Pay in Per Credit Structure?
Regular Session
2012-13
Resident
2013-14
$ Chg.
Nonresident
2012-13
2013-14
New Full-Time Undergraduate Students as of Fall Semester 2013, On-Campus
Undergraduates Living In Private Housing
Monroe Park Campus
Tuition- 15 Credit Hours (1)
n/a
$9,876.82
n/a
University Fee
$1,657.46
$1,757.46
$1,657.46
Technology Fee
$83.00
$83.00
$83.00
Health Service Fee
$195.00
$195.00
$195.00
Student Activity Fee
$90.00
$90.00
$90.00
Capital Outlay Fee
n/a
n/a
$612.00
Total
n/a
$12,002.28
n/a
n/a
Undergraduates Living In University Housing
Monroe Park Campus
Tuition- 15 Credit Hours (1)
n/a
University Fee
$1,657.46
Technology Fee
$83.00
Health Service Fee
$195.00
Student Activity Fee
$90.00
Capital Outlay Fee
n/a
Housing (2)
$5,292.00
Board (3)
$3,456.00
Total
n/a
$9,876.82
$1,757.46
$83.00
$195.00
$90.00
n/a
$5,454.00
$3,628.00
$21,084.28
n/a
n/a
$1,657.46
$83.00
$195.00
$90.00
$612.00
$5,292.00
$3,456.00
n/a
$ Chg.
$26,735.68
$1,757.46
$83.00
$195.00
$90.00
$612.00
$29,473.14
n/a
$26,735.68
$1,757.46
$83.00
$195.00
$90.00
$612.00
$5,454.00
$3,628.00
$38,555.14
n/a
(1) Tuition assumes 15 credit hours per semester, 30 credit hours for the year; although 12 credits per semester (24 credits per year) is considered full-time.
(2) Representative charge for double occupancy.
(3) Assumes 200 block plan w/ $300 per semester in "Dining Dollars".
50
Benchmarking for Per Credit Hour Structure
Do Other Institutions "Like" VCU Use a Per Credit Hour Tuition Structure?
Institution
Carnegie Basic
Community Engagement
University of Utah
University of Houston
University of Oregon
University of Oklahoma Norman Campus
Wayne State University
Michigan State University
University of Kansas
University of South Florida-Tampa
University of Central Florida
Colorado State University
University of Colorado at Boulder
University of Alabama at Birmingham
Indiana University - Purdue University Indianapolis
Georgia State University
Portland State University
University of Toledo
RU/VH: Research Universities (very high research activity)
RU/VH: Research Universities (very high research activity)
RU/VH: Research Universities (very high research activity)
RU/VH: Research Universities (very high research activity)
RU/VH: Research Universities (very high research activity)
RU/VH: Research Universities (very high research activity)
RU/VH: Research Universities (very high research activity)
RU/VH: Research Universities (very high research activity)
RU/VH: Research Universities (very high research activity)
RU/VH: Research Universities (very high research activity)
RU/VH: Research Universities (very high research activity)
RU/VH: Research Universities (very high research activity)
Curricular Engagement and Outreach and Partnerships
Curricular Engagement and Outreach and Partnerships
RU/VH: Research Universities (very high research activity)
RU/H: Research University (high research activity)
RU/H: Research University (high research activity)
RU/H: Research University (high research activity)
Curricular Engagement and Outreach and Partnerships
Longwood University
Old Dominion University
Master's M: Masters Colleges and Universities (medium)
RU/H: Research University (high research activity)
AAU
YES
Curricular Engagement and Outreach and Partnerships
Curricular Engagement and Outreach and Partnerships
Curricular Engagement and Outreach and Partnerships
Curricular Engagement and Outreach and Partnerships
Curricular Engagement and Outreach and Partnerships
Curricular Engagement and Outreach and Partnerships
YES
YES
YES
Curricular Engagement and Outreach and Partnerships
YES
Curricular Engagement and Outreach and Partnerships
51