The following is a news release from Virginia Tech:
The Virginia Tech Board of Visitors approved tuition and fee proposals for the 2013-14 academic year at a special meeting Sunday. Sensitive to the economic pressure on families and students but also cognizant of mandatory cost increases to be incurred by the university, including the university's share of an 18% increase in health care costs and the first statewide salary increase since 2007, the board approved increases of $532 and $1,296 respectively for resident and non-resident students.
Mandatory tuition and fees for Virginia undergraduate students will be $11,455; out-of-state students will pay $27,211 annually. Average room and board fees will rise by $396 per year for a total of $7,650.
Virginia Tech's comprehensive fee, the lowest in Virginia, will rise by $79 to $1,752 annually primarily due to personnel cost adjustments. The comprehensive fee supports various student life activities such as student activities, student services, health service, bus service, athletics, and recreational sports.
Thus, total cost for a Virginia undergraduate living on campus will be $19,105 and a non-resident living on campus would be $34,858.
The university will adopt a fee of $20 per year to support the university libraries. Mirroring specialized program fees in Architecture + Design and the College of Engineering, the Pamplin College of Business will levy a $25 per hour fee for 1000 level courses. The fee will be phased in for upper level courses in future years.
Tuition and fees for resident graduate students will rise by $610 to $13,023 and for non-residents by $1,322 to $24,588. Virginia and Maryland veterinary students will pay $21,796 and non-residents will pay $47,458.
As it has in past years, the university's student financial aid budget will also increase, this year by about $1 million. Funds for the Future will continue to protect needy students from future tuition increases. Under Funds for the Future, some students will not incur tuition increases during their tenure at Virginia Tech. Total financial aid available to qualifying students exceeds $400 million.
"We recognize the increased load carried by students and their families as the state has struggled to fund higher education. Still, Virginia Tech remains a strong value based on world-class quality. Currently, more than half of our peer universities cost more to attend than Virginia Tech for in-state students. Almost half cost more than us for out of state students," said M. Dwight Shelton, Chief Financial Officer.
Kiplinger's Personal Finance magazine ranks Virginia Tech among the 100 public colleges and universities that offer a first-class educational experience at a great value. U.S. News ranks the university among the Top 30 public universities in the country. Princeton Review ranks Tech among the150 best values nationwide among more than 4,000 institutions of higher education.
The entire package of rates and fees can be found at www.bov.vt.edu