Cost change since back in the day at W&M

<p>Prices went up by 50% for out-of-state students during my four years at W&M -- from $2000 to $3000 (I am not kidding), 1968-72. For as little as the State of VA now contributes to operating costs, the great disparity in in-state vs. out-of-state costs is absurd. I loved the campus, the town, my friends, the undergraduate emphasis, but today the costs are unreal. I got through on a small local scholarship from a hometown college club in suburban Pittsburgh, a State of PA loan, and fees paid by my parents (who could also save for their retirement which only recently ended with their passing in 2009 and 2011). I met the challenge of being accepted at what was by far the most affordable school of high quality, as an out-of-state female who was basically told at her/my visit that the chances of being accepted there were very low -- and i graduated with High Honors.</p>

<p>It’s an unfortunate trend that seems to be occurring not just at W&M, but at nearly every college in the United States. It’s hard to believe, but W&M’s OOS tuition is actually cheap in relation to comparable private schools, which are charging upwards of 44,000 dollars for tuition alone. Tuition increases are consistently outpacing inflation and there seems to be no end in sight. I fear a lot of schools are closing themselves off to many people in the middle class. The good news for W&M, I guess if there is any, is that they already receive so little public money that more cuts won’t effect their tuition too much.</p>

<p>As an extension of that trend, when our oldest d entered W&M in 2001, total COA was around $23K; this year, it cost more than $44K for our youngest d there. College costs are a runaway train that will wreck the hopes of many students and their families.</p>

<p>W&M is only part of this scenario - tuition costs rise every year at every school. W&M’s is a somewhat unique situation in that, though it’s a public school, it receives amazingly little in the way of public support. Even given budget cuts at public schools in other states, VA’s support of its flagship universities is weak. I believe that VA now provides less than 14 percent of the annual budget at W&M, and the shortfall has to come from somewhere.</p>

<p>Certainly our family believes that, if one can afford it at all, it’s still a bargain and well worth every cent. But every year there are more and more families that can’t afford it.</p>

<p>We are very well aware that the rising costs of tuition do prohibit access to some families. Part of W&M’s new strategic plan is to work hard to develop a new financial model that will hopefully allow us to work with diminishing state funds and will also help increase scholarship and financial aid opportunities for prospective students.</p>

<p>W&M is not alone in raising tuition. It’s an unfortunate but inevitable result of economic downturn and reduced state funding. As some posters have noted, our rates are still a great deal less than many private institutions and our rates for VA residents are pretty great.</p>

<p>Again, we are very well aware of the problems associated with rising costs and are working hard to develop financial models and systems that will alleviate some of the financial burden to families but with any such restructuring effort that process will take time.</p>

<p>At the time our now-junior daughter entered W&M, I believe OOS tuition was around $26,000. She really wanted to go to W&M – it was her first choice. She had the option of attending very good state schools, which, when you think about it, should have saved us a LOT of money. However, the cost of room and board was significantly less at W&M (about $6,000 less), and CA budget problems were causing tuition to rise significantly at state schools and causing those schools to cut course offerings and the predictions for the future were gloomy. We studied the statistics and the experiences of friends’ kids at our state schools and realized it might take her 5 years to get the required classes for her intended major and that the tuition would probably be going up each year. In the end, the gap between paying for W&M and one of our flagship university campuses was not that great. </p>

<p>We think we made an excellent choice, and even though W&M tuition has also gone up, the percentage increase has not come close to what it has been in CA state schools. Also, we appreciated the fact that W&M spread its necessary increases across both OOS and in state students and did not expect OOS students to bear the brunt of the increases.</p>

<p>IMO college costs are an economic bubble. Eventually it will correct itself. They cannot continue to rise at this pace.</p>

<p>bubblemom, thanks for your thoughtful comments. Glad to hear your D has had a great experience and appreciates the value of a W&M education.</p>

<p>Again, we certainly realize that college costs are significant and we will continue to work towards developing a financial model that allows W&M to not only make itself more accessible to students of limited financial means but also to operate in a way that is economically as efficient as possible.</p>

<p>One thing we think many W&M students admire is that depite decreasing state support, budgets cuts and a recessed economy, aside from tuition increases, W&M have likely not felt the impact of these difficult financial times. Programs have not been cut; in fact several have been added. Scholarships and grants for research and financial aid continue to be available. Extracurricular activities still go on with limited cost to students. Students still attend sporting events for free. So W&M works hard to ensure that students’ experiences are not greatly impacted by any kind of financial hardships.</p>

<p>W&M Admission, I hadn’t thought of that, but you are right! Aside from high tuition, W&M has continued to support and add programs and provide other forms of financial aid. Another reason why I feel lucky to be attending such a great school next year- so many of my friends do not even have the option of attending a private or out of state public school- especially not one like W&M.</p>

<p>Skydancer, we feel fortunate to have wonderful students such as yourself interested in and excited to attend W&M. </p>

<p>Admittedly the budget cuts have been noticed through increases in tuition, no raises for staff for several years, etc. but part of what makes this place special is the belief in the institution held by students, faculty and administrators and because we think W&M provides such wonderful opportunities to students we all continue to do more with less to continue to attract the world’s best and brightest students and faculty and we continue to make this campus a community worth of our rich history and tradition.</p>

<p>At family weekend this year the President gave a talk on the current issues relating to the cost of attending W&M. Basically it was what nobody wanted to hear. He said the following three things; 1) Parents and students you will have to pay more to attend the school. Virginia like all states is under immense pressure to control costs and is not going to provide funding that we would like in the future. Lots of moans from the parents and students. 2) We at W&M need to scrutinize ever penny we spend. Salaries and expenses must be kept under tight control and we have a moral obligation to control spending to the best of our ability. Lots of moans from the faculty and staff. 3) We will ask all to do more. There is no white night coming to our rescue. Lots of moans from everyone in the hall. Still believe W&M is a good deal in state or out of state.</p>

<p>Honestly we do believe W&M is still an excellent value. Yes spending is monitored but that is also good fiscal policy. Yes we will be doing more with less but that’s a credit to the spirit of W&M that its students, faculty, staff and administration continue to provide wonderful programs (academic and social) rather than cut programs during these difficult economic times (just last week W&M announced a plan for a new fraternity village to be built over the next few years so we are continuing to improve campus). Yes tuition will increase and raises may not be granted and those are challenges we must face but these are not challenges faced by W&M alone. These are challenges colleges and univerisities across the country are facing.</p>

<p>W&M continues to be named a best value by publications such as Forbes and Kiplinger’s and we continue to provide one of the highest-quality educations in the country. </p>

<p>The email sent by President Reveley to students last week regarding the 2011-2012 tuition was forthright but also optimistic about how this institution faces challenges head on and how we will continue the long-standing tradition of excellence on our campus.</p>