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The University of Virginia Board of Visitors approved a 2.2 percent tuition increase for in-state students Thursday.
The new tuition rate will take effect for freshman in the fall, bringing the cost of an education at the state’s flagship public university to $13,348 per academic year, not including student fees, room, board and books.
The increase is a smaller than in previous years: In 2016 the board voted to raise the rate by 3 percent, and in 2015 the board approved a tuition hike that increased the cost of attendance for freshman by 11 percent.
Overall, the university has increased tuition for in-state students by 74 percent since 2009.
Out of state students in the 2017-2018 academic year will see a tuition increase of 3.5 percent, raising the annual cost to $43,194.
“As UVA approaches its bicentennial, the commitments we make now will define the University’s character in its third century,” U-Va. president Teresa A. Sullivan said in a statement. “This applies both to the commitment the commonwealth makes to us, and to the value we offer to our students.”
Last year the board grappled with the revelation that the university had kept secret a $2.2 billion strategic investment fund, funded quietly by the administration even as students saw tuition increases year after year. What’s more, the board oversees one of the largest endowments of any public school in the country with more than $6 billion in the bank.
In a statement, U-Va. spokesman Anthony de Bruyn wrote that this year the board voted for the administration to seek “a lower tuition increase in keeping with its commitment to affordability,” while looking for other cost-cutting measures throughout budgets in departments across the campus.