Bacon's Rebellion

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UVa Board Ponders Tuition Increase

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by

James A. Bacon
in

After freezing tuition (but not room, board or fees) this academic year, the University of Virginia Board of Visitors is considering raising tuition and fees between 3.5% and 4.9% for the 2022-23 academic year and the year after that, reports The Daily Progress.

The Board had considered a 3.1% boost in tuition last year, but deferred the rate increase out of concern that the COVID pandemic had created financial hardship for many students. Meanwhile, in the past year there has been a spike in inflation-driven operating costs such as utilities and faculty/staff salaries.

Offsetting inflation, UVa saw a 49% return on its investment portfolio last year, boosting the size of its endowment to $14.5 billion. It might be difficult justifying a significant tuition hike after adding $4 billion to $5 billion to its endowment.

Between tuition, fees, room and board, the estimated cost for an in-state undergraduate student to attend UVa this year is about $34,560. The cost is about $70,000 for out-of-state students.

— JAB

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14 responses to “UVa Board Ponders Tuition Increase”

  1. James Kiser Avatar
    James Kiser

    And how much money is being wasted on athletics? Two interesting articles on college costs in the WSJ this morning. One on LSU offering the coach of Notre Dame 100 million dollars and that students at dentistry and vet schools are leaving with degrees costing over 400,000 dollars and Fuentes leaving Tech with a 8.75 million buyout. Ridiculous.

    1. Dick Hall-Sizemore Avatar
      Dick Hall-Sizemore

      I agree that the salaries for college football and basketball coaches are ridiculous. And Fuentes is laughing all the way to the bank.

      The only positive aspect to all this is that the money for these salaries and buyout is not coming from the state or tuition, but from athletic dept. revenue–TV revenue, ticket sales, donors.

      1. James Kiser Avatar
        James Kiser

        sorry to disabuse you of that notion but the same article in the News Virginian noted that revenues from all athletic income only covered 50% of the cost for Tech. So where does the rest come from? There is only one answer student fees. BTW how could athletic income from say tv rights even cover the cost of LSU’s offer to the coach of ND of 100 million dollars. What was Beamer making? A lot more than Fuentes. It is one of the reasons that alcohol is sold at colleges to underage students at games.

    2. Nancy Naive Avatar
      Nancy Naive

      Let’s not forget, these programs with just 2% of the student body produces 20% of campus violent crime (from a study some decade ago)

      UVa football generates $43M in revenues.

      1. James Kiser Avatar
        James Kiser

        interesting

      2. WayneS Avatar
        WayneS

        And Va Tech football generates just under $60 million per year in revenues.

        1. Nancy Naive Avatar
          Nancy Naive

          I once read someplace, Virginia Pileup or Daily Mess, that only some 50 colleges make money, a larger number are more or less breakeven and most lose money on football. Assuming the powerhouses are the moneymakers, VT is most likely a break even.

          The NCAA, however, is rolling in it… tax free.

        2. Nancy Naive Avatar
          Nancy Naive

          Hey, you’re twisted. You’ll appreciate my thoughts. For years, I’ve made donations to a local hospital, money not organs or fluids. I got a call from their philanthropy folks. They told me I could set up a donation that essentially buys a life insurance policy on me that makes them beneficiaries. That way they could get a huge amount compared to my annual giving.

          Told them I’d think on it.

          No effing way! Last thing I want to be is worth more dead than alive… especially to a hospital I might wind up in!

          1. WayneS Avatar
            WayneS

            That sounds like the same racket as those retirement communities where you turn all of your assets over to them in exchange for continuing care as you grow older, regardless of what your needs are/become.

            When you die, they keep your assets and resell your “spot” to another retiree. They have a strong disincentive to keep you alive.

          2. Nancy Naive Avatar
            Nancy Naive

            Yea. Now, about our kids…

  2. George Walton Avatar
    George Walton

    All that money just to learn how to be a woke snob.

    1. Nancy Naive Avatar
      Nancy Naive

      Yes, yes. ‘Cause James is clearly woke too.

      1. George Walton Avatar
        George Walton

        Jas. Is A-okay!!

  3. Nancy Naive Avatar
    Nancy Naive

    Two interesting headlines… first from Cavalier Daily…
    “Virginia Athletics generated record revenues of nearly $110.3 million but a deficit of almost $1.5 million in 2019-20
    The University’s athletics department’s financial situation improved despite a partially pandemic-affected year”

    And from a 2015 C-Ville article…
    “UVA’s student bank: Undergrads pay $13.2 million in athletics fees”

    Hmmmm…

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