RADFORD – Tuition at Radford University will increase by three percent for the 2023-24 year.
The Radford University Board of Visitors discussed and voted on the tuition and fees for the 2023-2024 academic year at a special meeting April 28.
“The Board of Visitors’ primary goal is to maintain the highest standard of education for Radford University students while minimizing the financial burdens on students and addressing increased inflationary pressures,” according to a statement by the university.
The increased rate applies to both in-state and out-of-state students and includes undergraduate and graduate students at all locations, including Radford University Carilion in Roanoke.
With admissions and deposit deadlines for the fall approaching, the special meeting was called “to allow students and their families to make informed decisions about financial commitments for the upcoming year,” the announcement reads, adding the BOV could revisit the decision depending on the outcome of the state budget.
“These adjustments allow for Radford University to continue delivering high quality academic programs and to make future investments for student success,” said Rector Deb McMahon. “We made a decision that best minimized the impact on students while addressing inflationary realities.”
“We believe in our positioning as one of the most affordable institutions in the Commonwealth,” President Bret Danilowicz said. “As a result, there is sensitivity to the challenges that students and families face when the cost of education rises. Radford University remains committed to providing significant financial support for students to ensure that our prestigious degree remains accessible and affordable alongside a high-quality student experience.”
McMahon said Radford’s cost versus nationwide economic trends over the past six years show the increases are lower than average. Radford University’s total cost – tuition, room and board, and fees – has grown 13 percent for undergraduate Virginia residents since 2017-18, “less than the average rate of the state’s four-year public institutions,” including “three years of flat tuition fees, and a fourth where rebates were made available to in-state undergraduates,” and the national Consumer Price Index (CPI) “showed a 19 percent rate of change over the same period.”
“This was neither a quick or easy decision,” said McMahon. “For the fiscal health of the university, and to continue delivering a high quality of service to our students, this move was necessary.”
The BOV also voted to increase fees, including room and board fees that “provide more inclusive services to limit additional out-of-pocket costs students have incurred in the past and meet their demand.”
Radford University remains one of the most affordable universities in Virginia, with the third-lowest total cost of education when tuition, fees, and room and board were combined among the state’s 15 public four-year institutions in 2022-23.
In 2021-22, more than 60 percent of full-time undergraduates at Radford University received financial assistance.
“With the increase in need-based financial aid in the state budget, Radford University will continue its commitment to maintaining student affordability,” according to the university statement.
Radford News Journal staff report