During its May 5 quarterly meeting on campus, the Radford University Board of Visitors (BOV) approved tuition and fee rates for the 2017-2018 academic year.
To sustain the strategic objectives that Radford University has undertaken to maintain its high-quality, student-focused education, the BOV approved an annual increase of $546 in tuition and mandatory fees for the upcoming academic year.
The decision is the result of a thorough evaluation of all University costs and implementation of $3 million in operating savings in academic year 2017-2018, and allows the University to continue its effort to provide in-state students a quality education at an affordable price while addressing all relevant fiscal factors.
The BOV approved annual tuition, mandatory fee, and room and board increases totaling $667 (3.48%) and $668 (2.14%) respectively for in-state and out-of-state undergraduate students. Graduate student tuition and mandatory fees will increase $598 annually for in-state and $599 annually for out-of-state students.
Many factors were considered in determining next academic year’s tuition and fee rates, including: state budget reduction of $1.3 million, University enrollment projections, state mandated salary and benefit increases of $3.4 million, the Virginia Plan for Higher Education, and critical institutional priorities. Additionally, the University is required to first address all unavoidable cost increases for the next fiscal year prior to pursuing programmatic opportunities, including state employee salary increases, fringe benefit and health insurance cost increases, promotion and tenure compensation adjustments, safety and security, contractual escalators, technology infrastructure support, and the operation and maintenance of new facilities. The tuition and fee rate changes are necessary to cover the aforementioned increases and also to maintain essential levels of instructional support and student services.
In 2016-17, Radford University’s total cost to an in-state student, based on tuition, mandatory fees, and room and board, was very competitive when compared to other public, four-year institutions in Virginia, making Radford the second most affordable institution in the Commonwealth.
For 2017-18, in-state undergraduate tuition, mandatory fees, and room (standard double) and board (19 meal plan) will be $19,859 and is anticipated to remain one of the most affordable public universities in Virginia.
The University’s commitment to providing its students a quality, affordable education has resulted in national recognition as a “Best Bang for the Buck” institution by Washington Monthly magazine every year since 2013.
— Submitted by Sherry Wallace
