Friday, April 21, in a 13-3 vote, the College of William and Mary Board of Visitors approved a resolution to increase undergraduate student tuition and fees for the 2024 Fiscal Year. The approved resolution increases tuition by 4.7% for in-state and 4.9% for out-of-state students. This is the first change to tuition since 2018.
As of a result of this resolution, in-state tuition will increase from $17,434 to $18,253 and out-of-state tuition will increase from $40,089 to $42,053. The Board also approved a $252 increase in mandatory non-Education and General (E&G) fees and $497 increase in room and board rates for all students.
“This year, the BOV must increase tuition for multiple reasons: to preserve the quality of classes and small class size; to expand financial aid to lower- and middle-income students; to enhance the student experiential learning environment and to address increased costs related to inflation,” Resolution 21-R reads.
“William and Mary is committed to the lowest increases that allow us to fulfill the mission of the university and ensure its excellence and preeminence,” College President Katherine Rowe said in the Full Board meeting.
The resolution raising tuition also stated that the flat tuition rate forced the College to implement significant cost reductions and operational efficiencies, in addition to freezing hiring and limiting investment in new projects.
“We cannot cut or save our way to success. And we cannot and will not sacrifice on quality. Nor will our students or alumni allow it,” Chief Operating Officer Jackie Ferree said in a presentation in the Committee on Financial Affairs.
Others expressed concern regarding recent tuition increases. Board of Visitors members Anne Leigh Kerr ‘91, J.D. ‘98 and Brian P. Woolfolk J.D. ‘96 cited that the College already had the most expensive in-state tuition and fees for a public university in the United States, according to a 2021 U.S. News & World Report.
Student Assembly Chief of Staff Owen Williams ’23 also spoke during the Committee on Financial Affairs meeting in regard to the necessity of these recent increases in price.
“We believe that these hikes are unfortunately appropriate steps that must be taken in order to protect the health and prestige of our institution,” Williams said.
CORRECTION (04/26/23): Article was updated by Sarah Devendorf, the Standards and Practices Editor to change Owen Williams’ title from Student Assembly Vice President to Student Assembly Chief of Staff.
