Increase in tuition and fees for students in fall
By AMELIA LORD
Increased tuition, student fees and room and board costs will result in a 3.8 percent total cost increase for undergraduate students in the 2013-2014 academic year at the University of Mary Washington.
Tuition rates will cost an extra $696 for in-state undergraduate students and an additional $1,252 for out-of-state undergraduate students in the upcoming academic year.
This increase comes as a result of the UMW Board of Visitors (BOV) approvig a 4.5 percent tuition increase, a four percent housing increase and a two percent board increase for the upcoming academic year.
The BOV met at the Jepson Alumni Center last week to vote on several different items, including 2013-2014 tuition.
“In total, the [2014 Fiscal Year] expenditure budget includes $1.1 million in additional mandatory expenditures due to state actions,” according to the April 5 BOV Administration, Finance and Facilities committee meeting minutes.
“The increased expenses include faculty and staff salary increases and increase health insurance premiums to be paid by the employer,” said Rick Pearce, vice president for administration and finance. “Total cost is $2.1 million, of which the State is [providing] approximately $1 million. UMW is responsible for covering the remaining $1.1 million,” said Pearce.
“Universities are a business.. it only makes sense from a business standpoint to raise tuition,” said Matthew North, a senior business major. “Although I do not agree with [the increase] because I will be affected, it’s just the nature of the beast.”
Expenses for in-state students will cost a total of $18,782, and out-of-state students will pay a total of $31,652.
According to the meeting minutes, UMW has lost a net revenue of almost $5.4 million despite tuition increases.
“I think that’s a lot of money, but I understand the necessity given the ambitious projects taking place on campus,” said “junior Clare Stechschulte.
The BOV discusses and votes on “an operating budget and sets tuition and fee rates for the upcoming academic year,” according to the meeting’s agenda.