From UMW:
At its meeting on Friday, April 16, the University of Mary Washington Board of Visitors endorsed President Troy Paino’s recommendation that tuition be held at current rates for the third consecutive year. The President acknowledged the difficult financial impact of COVID and rising costs on the University, but noted that the University is prioritizing student affordability over other budgetary considerations.
Both undergraduate and graduate students will benefit from consistent tuition rates through the coming year, regardless of in- or out-of-state residency. Housing and dining costs will rise by 2%. Auxiliary fees will increase by 4% for full-time undergraduate and graduate students. These increases will help address state mandates, contractual obligations and unavoidable cost increases. Overall, full-time Virginia students living in campus housing will experience a net increase of $414 (1.7%) inclusive of tuition, housing, dining and auxiliary charges.
“It would be a failure in our public mission to ignore the economic hardships facing many of our students and their families,” Paino said. “Clearly this decision will have an impact on our ability to undertake certain initiatives and to provide the full range of services and programming that students request, as well as challenge our ability to meet some current commitments, but we believe that affordable access is the foremost need of our student body as a whole.”
President Paino went on to acknowledge the difficult task of the General Assembly and Governor Northam in juggling many state fiscal demands. “Our elected officials have demonstrated their commitment to Mary Washington through their funding support, which is essential in offsetting some of the accelerated costs beyond the University’s control.” In the 2021-22 fiscal year, all but $1.7 million of new state mandates will be covered. The University of Mary Washington receives approximately 25% of its total revenue from the state, with the remainder coming primarily through tuition and fees.
Rector of the Board Heather Crislip acknowledged the extraordinary circumstances of the past year. “The Board realizes this decision will call for some sacrifices from the entire University in order to achieve a fiscally responsible and balanced budget. While we are deeply attuned to the University’s budgetary limitations, as well as the necessity of making quality-enhancing investments, in this environment we concur that holding the line on costs to families is paramount.”
UMW anticipates finalizing and presenting its 2021-22 budget to the Board of Visitors for approval in June.
