BOARD APPROVES MODEST INCREASE; OLD DOMINION TO RAISE TUITION, FEES 6.2%
Old Dominion University will raise its annual tuition and fees for in-state undergraduate students by 6.2 percent, effective with the summer 2002 term.
Students will pay $4,270 for 30 credit hours, up $248 from this year. Room and board rates will increase $130 annually or 2.5 percent.
The increases were approved by the university's Board of Visitors today following a discussion of how increases would impact programs, services and students.
"We felt there was a strong need to balance the importance of maintaining the quality of instructional programs, offering our full schedule of classes, retaining direct services to students and maintaining affordable access to students. These increases will allow us to do that," President Roseann Runte said.
State budget cuts have led to tuition increases at schools across the commonwealth for the first time since 1995, when tuition was frozen by the state. In fact, tuition rates were reduced in 2000. Old Dominion University students who enrolled for the 1998-99 year paid $4,310 - or $40 more than students will pay in 2002-03.
"Raising tuition and fee rates for our students is a difficult decision, but in today's economic environment we have no choice. We are losing $6.2 million in the coming year's budget and another $10.2 million the following year," explained Robert L. Fenning, vice president for administration and finance. "A lot of planning and consideration of the fiscal impact these increases would have on our students went into this decision. We worked to find a figure that would allow us to provide our students with the best education and services at the lowest cost to them. These tuition increases will generate slightly more than $4.5 million in non-general fund resources, which will be used to offset cuts and address other institutional priorities outlined in our strategic plan. The fee increases will add about $760,000 more."
Fenning said the increases will allow the university to provide more institutionally funded student financial assistance. Also, changes in the Federal Pell Grant Program, plus additional state aid for students, will help mitigate a substantial portion of the increases, particularly for our neediest students, he added.
Out-of-state undergraduate students will see a 7.3 percent increase in tuition and fees, from $12,392 to $13,293. In-state graduate students will have a 6.6 percent increase in tuition and fees, paying $5,330 for 24 credits; out-of-state graduate students will pay $13,931 for 24 credits, or 7.4 percent more than this year.
This article was posted on: April 12, 2002
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