Apr 20, 2013

The College of William and Mary hikes In-state Tuition by 14% for First-year Students

College of William & Mary
Adopting a revolutionary operating model designed to bring in “vitally needed resources,” the College of William & Mary governing board voted on Friday to implement a four-year tuition "guarantee" that with mandatory fees will raise basic costs for incoming Virginians by 14 percent to $15,464—not including room and board and other associated costs of attendance.

But along with the increased dollar amount comes a commitment that tuition will remain constant through all four years of undergraduate study—a model similar to the “fixed-rate tuition plan” used by George Washington University.

Current in-state students will receive a more modest increase of about $300 or two percent and a promise to hold annual tuition increases to no greater than the rate of inflation.  And out-of-state students, not covered by the tuition guarantee, will see about a five percent increase to $38,440.  With room, board, books, travel, and incidentals, students coming from out of state can expect to pay about $51,556.

In comparison, Commonwealth residents at the University of Virginia will see a basic 3.8 percent increase in tuition and fees to $12,458 (not including tuition differentials), while out-of-state students will pay $39,844 before additional school-specific fees.

In a press release referring only to tuition and not providing comparisons with previous years, William & Mary officials paint a glowing picture of a new tuition schedule, which might come as a bit of a surprise for students and families locked in by Early Decision (ED) commitments made last December.

“Our students and their families must help support more of the cost of the ‘hands on’ education that is the glory of the College,” said President Taylor Reveley.  “With all of us doing our parts, William & Mary can continue to contribute magnificently to the Commonwealth and nation. Our new operating model is a vital step to that end.”

Other elements of the new operating model include:
  • Graduated tuition increases:  Tuition alone for 2013-14 academic year will be $10,428 for in-state first year students—$12,428 for 2014-15, and $13,978 for 2015-16 (the William & Mary financial aid webpage includes a more detailed summary of total costs).
  • Relief for “middle-income” families:  Net tuition paid by middle-income families, as defined by the state’s Higher Education Advisory Committee, will be the same or less to attend William & Mary under the new model.
  • Less debt for graduates:  The loan burden for middle-income in-state undergraduates who demonstrate financial need will be reduced by up to $8,000.
  • Tuition cap for returning Virginia students:  Tuition for in-state undergrads enrolled before adoption of the new model will be capped at a rate no greater than the Consumer Price Index (CPI).
  • Additional Virginia students:  In-state enrollment will be expanded by additional 150 students over the next four years.
  • Commitment to academic excellence:  The plan increases faculty compensation, keeps classes small and interactive, and increases average faculty engagement in instruction.
William & Mary officials plan to introduce “The William & Mary Promise” with a large-scale media campaign emphasizing the four-year tuition guarantee and the prospect of increased financial aid for many middle-income students.

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