<p>Just received an email from W&M- THANK YOU for the clear, concise and timely way this was communicated. Here is the highlight- I don't know how this affects out of state:</p>
<p>Two particular aspects of the William & Mary Promise should ensure that affordability will not be compromised for you and your family.</p>
<ol>
<li><p>Higher ratios of grants to loans. The maximum amount of loans for new in-state students who qualify for need-based financial aid will be lowered in order to reduce student debt. Students who have been offered grants from William & Mary will receive an increase in grant aid to lower their loans and to cover the full amount of the tuition increase. If your student's financial aid award will be adjusted in this manner, your student will receive an email later today from the director of financial aid. </p></li>
<li><p>Frozen tuition. Even more importantly, tuition will be frozen for all new in-state students over the course of their full, four-year education at William & Mary. Tuition for the 2013-2014 academic year will be $10,428. That tuition rate will be frozen for the next four years for all incoming in-state freshmen. Room, board and fees will continue to be set on an annual basis. For the 2013-2014 academic year, the total cost of education for an in-state student, including tuition, fees, room and board will be $25,279. </p></li>
</ol>
<p>This guarantee means that for all Virginians who enroll in fall 2013, the four-year cost of tuition at William & Mary will be no greater than what they likely would have paid if the historic trend of tuition increases had continued. Over the past five years, the average annual increase in tuition at W&M has been 7.1%. Over the course of a four-year education, cumulative tuition expenses at the frozen rate (totaling $41,712) will be no greater than they would have been under annual increases of 7.1% (totaling $41,803). Families will pay slightly more in the first couple of years, but less in the upperclass years.</p>
<p>Furthermore, in-state families who invested in the Virginia 529 PrePAID program (previously known as the Virginia Prepaid Education Program, or VPEP) may be assured that their full cost of tuition will continue to be covered.</p>
<p>I wasn’t clear on whether the higher ratios of grants to loans will also benefit existing students. It sounds as if their tuition is not capped but will rise no more than inflation. Will current students see more grant aid in their packages as well?</p>
<p>The tuition increase for next year is about 3% which is about what I expected based on historical trends. But now we know what it will be for each year. The other part of the promise has to do with grants vs loans. That is big news. Yes, if you have no financial need at all, your cost will go up. But for those people without need (and I am fortunate to be one of them), we now know exactly what we will be paying for tuition for the four years. If you do have need, even though you already got you financial offer for next year, they are being reworked with a higher emphasis on grants vs loans.</p>
<p>W&M is a wonderful school at a very affordable cost. In my opinion, this just made it a little more affordable for those who need. Yeah, I have to pay a little more, but thanks to the value of my and my husband’s W&M degrees, we can afford it. I think we owe that much to our school and our community.</p>
<p>Talk about burying the lead – this “tuition freeze” for incoming 1st years comes on the heels of a 14% tuition increase to $15K, which makes WM a couple thousand dollars more expensive than UVA (which had an increase of 3.7%).</p>
<p>The alternative is an increase every year of an unknown amount. A 3.7% annual increase, without doing the math, is probably, in the end, no different than a 14% increase with 3 years of no increase thereafter. I defer to the math experts on that one.</p>
<p>We are from California, so the issues of funding the UC and Cal State systems are prominent here. Of course, here the UC spokesman admits more OOS students were accepted to the detriment of in state kids because of the tuition issue. Is anything similar occurring in VA?</p>
<p>Not yet in VA re OOS. Both UVA and WM take about 1/3 from OOS and this will not change at least in the near term. Here in VA, all of my kids have received calls form UCLA inviting them to apply and at least two students from their HS who could not get into UVA or WM have made it into Berkeley because of their desire for OOS. Crazy when a public school is easier to get into OOS than in state.</p>
<p>Why can’t they help OOSers too? I really wish they’d meet full need. My estimated family contribution, according to them and fafsa is $137, yet my parents will be paying $17,000 next year. I understand they can only meet 80% ish currently for OOSers, but they barely meet 60% of my need.</p>
<p>They can’t meet full need because they don’t have the resources. In 2011, the endowment amount per student was $76,200; the endowment per student at UVA was $255,000 in the same year. FA comes from a variety of sources, of course, but the simple answer is that UVA meets OOS student need because it can. W&M can’t. The amount charged for OOS tuition does help keep down what state students pay.</p>
<p>First of all, let me say that I was NOT a math major. Seriously, I did pick up the wrong number- I think 3% was the amount of the increase for the returning students. They get a lower increase, but no guarantee. I am happy with ours even though it is higher. I like the certainty.</p>
<p>In addition to the 3.8% increase for instate UVa students, 4.8% for OOS, UVa is moving to a model that uses tuition differential surcharges. The McIntire School of Commerce has phased in a $5k tuition differential, a two year program so years 3 & 4. The coming academic year will see a $2k tuition differential for SEAS starting with first year students (current students are grandfathered). </p>
<p>So, while 14% may seem tough, looked at in context with the price lock it is indeed a lower increase then UVa over four years if UVa stayed at a 3.8%, not even considering the tuition differential surcharges.</p>
<p>The plan looks good if you are a Va. resident. But what about OOS students? Our family falls into the “middle income” category the plan describes, but we live in NJ. Will we be looking at substantial increases to tuition during his time at the school to make up the difference for in state students? Will financial aid to OOS students be impacted? I understand and applaud the College for their efforts on behalf of in state kids (maybe NJ could take a hint), but it would be nice if the policy towards OOS students was a little more defined.</p>
<p>Thanks. Guess I didn’t scroll down far enough. However, still concerned. Is there a possibility of a big jump in OOS tuition to cover the costs for in-state? Will financial aid be affected for OOS kids? Should I be concerned that I might not be able to afford tuition after my son has been at W&M for a year or two? W&M is still a great value for the education it provides, but as one of those feeling “the squeeze” I’m just a little nervous.</p>
<p>@twotallboys, out-of-state tuition will continue to be evaluated on an annual basis as it always has been. Note that out-of-state tuition for next year is being raised by the lowest percentage in several years. The point of the W&M Promise is not to simply hood-wink out-of-state students into bankrolling W&M.</p>
<p>@soccersara, we certainly want to continue to make more funds available to all students in the form of need and merit aid although right now there are no specific plans to change out-of-state need awards in the immediate future.</p>
<p>Thanks for your response. I didn’t want to imply that there was anything sneaky going on. We have had several opportunities to visit campus, meet with faculty, students and staff and have always found everyone to be very upfront and honest about the school. Just the first-child-going-to-college nerves coming through.</p>
I really wish they’d meet full need. My estimated family contribution, according to them and fafsa is $137, yet my parents will be paying $17,000 next year. I understand they can only meet 80% ish currently for OOSers, but they barely meet 60% of my need.</p>![http://i1332.■■■■■■■■■■■■■■■/albums/w616/GolfFatherPB/WampM2_zps90840f17.jpg[/url]](http://i1332.photobucket.com/albums/w616/GolfFatherPB/WampM2_zps90840f17.jpg%5B/url%5D){kind=link}
