Public Comment Session – Educational Workshop November 8, 2019
A Great and Good Unive iversit ity Th The e 203 2030 Pl Plan: Str trategic Goa Goals Stra rategic G Goals ls: Str treng ngthen n Our ur Found undation Cult ltiv ivate the Mo Most V Vib ibrant C Community in in Hig Higher Educatio ion Enable e Discoveries es That Enrich and d Improve e Lives es Mak Make UVA S Syn ynonymous wit ith S Service 2
Unive iversit ity of f Vir irgin inia ia Valu lue Proposit ition 96. 96.9% 15:1 15 100% 00% 1-Year R Retention on R Rate Student-Faculty R Ratio Stable retention rate for first-time first-year Fina nancial N Nee eed M Met et students over the last 25 years Percentage of freshman with need who received financial aid One o of Two P Publi lic Universities 6,983 983 3,1 ,104 Financia ial A Aid D Distribu ibutio ion Degrees ees A Awarded ed, 2 2018 Education A Abroa oad P Participants 10% increase over the last decade Listed among the top 25 US universities by the Institute for International Education for the number of students awarded education abroad credit 23% 77% 95/99 95/ 99 53 53 Return O On Investment R Rating Scholarships/Grants US R Rhode des S Scholar arships Princeton Review rating covering starting and Number of winners, 1904 - 2019 Loans/Jobs mid-career salaries, and career social impact 3
Tuit ition Phil ilosophy hy Prioritize Affordability, Accessibility and • Maintaining High Quality Metrics – graduation rates, job and • graduate school placement, minimal tuition increases AccessUVA meets 100% of demonstrated • need for all undergraduate students and limits debt Tuition is last resort; look first to other • revenues and savings 4
AccessUVA Income • Grants cover tuition, fees, room, and board Virginia under families $30,000 receive Income under • Grants cover tuition and fees $80,000 low-income Virginians • $ 4,000: Loan Caps over Four • $18,000: other Virginians Y ears • $28,000: non-Virginians • 34% Students with need • 100% Need met for all undergrads 5
Chang hanging Relati tionship Bet etwe ween State App pprop opri riation on an and Tuit ition In Fund unding Educat Educational nal Costs (in 2020 20 do dolla lars) • Responsibility for funding educational costs has shifted from the taxpayer to the student • Over 30 years, the combined investment from student and state is less than 1990-91 (inflation-adjusted) • Increases in tuition have not kept pace with declines in general funds, leaving a gap of $3,648 per student in 2020-2021 • Differential tuition, and increases in out-of-state tuition, endowment return, and philanthropy have been critical to maintain excellence 6
Th Thirty Yea ears of State App ppropriation on an and In-State (Col ollege) ege) Unde ndergr grad Tuit ition on (in in 2020 do dollars) FY1991-2001: General fund FY2002-2011: General fund FY2012-2021: Tuition overtakes cuts, tuition freezes, cuts, tuition rollback, tuition general fund; total not tuition rollback increases restored to FY91 Note: Tuition used is the 7 in-state, undergraduate College rate
How We We Spen end Tuition a and nd State te Funds t to Educate te Studen ents ts 8 8 8
202 2020-20 2021 21 Ope Operating Cha hall llenges an and Oppo Opportunities Potential Commonwealth budget reductions (5% = $7M) • What cost increases are we facing? • 3% merit faculty increase: $8.6 million • 3% merit staff increase: $8.4 million • 2% inflationary cost on non-personal services: $14.9 million • Increase support for enrollment and student services, utility increases, first generation • programming, targeted faculty recruitment, library services 9
2020 020-2021 21 Unde ndergradu duate Tuition an and Fee Propo posal For undergrads in the College of Arts & Sciences, Curry School of Education and Human Development, School of Architecture, McIntire School of Commerce, and School of Continuing and Professional Studies and returning undergrads in the School of Engineering and Applied Sciences, Batten School of Leadership and Public Policy, and School of Nursing: In-state tuition: +3.0-4.0% Out-of-state tuition: +3.0-4.0% Required fees: Up to +$174 The majority of the increase is associated with an expansion of student health and wellness services in a new facility. 10 10
Quest stions? ons? Please email any questions to respond_uva_tuition@virginia.edu 1 1 1 1
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