VCU Considers Tuition Hike

From WTVR News: Facing the rising costs of retaining teachers and utilities, plus finding money for financial aid, support services and academic facilities, Virginia Commonwealth University may raise tuition rates. The VCU Board of Visitors met over the weekend to discuss tuition options, according to a news release from university spokeswoman Pam Lepley. …. To […]

April 16, 2013; 7:52 AM • by Oregon Hill

From WTVR News:

Facing the rising costs of retaining teachers and utilities, plus finding money for financial aid, support services and academic facilities, Virginia Commonwealth University may raise tuition rates.
The VCU Board of Visitors met over the weekend to discuss tuition options, according to a news release from university spokeswoman Pam Lepley.
….
To meet increased costs, the board will consider a four-percent tuition increase and some new, ‘market-based tuition strategies.’
“New, market-based tuition pricing may generate revenues to move into fiscal year 2014-2015, but it must be paired with expense reallocation and new ways of thinking about current operational programs that cut costs,” David W. Hanson, chief operating officer and senior vice president, said in a statement.
One market-based tuition pricing strategy is a per-credit pricing structure. It would be based on an annual four percent tuition and fee increase over four years and 15 credits per semester. This set-up, the university said, would mean more money from VCU, but allow students to graduate faster – lowering their overall costs.

This was predicted in November of last year.