The Virginia Tech Board of Visitors met Monday at Squires Student Center for their quarterly meeting.
The board discussed several topics and within the first hour of meeting passed all motions made, including the decision to approve a new degree in the College of Natural Resources and Environment in addition to budget changes.
Virgina Tech will receive $1.14 billion for the 2011-2012 budget. This amount increased from the previous fiscal year due to budget cuts.
President Steger commended the university even with its losses.
The board also approved the motion to raise tuition for the 2011-2012 fiscal year.
“No one wants to raise tuition,” Steger said. “$75 million was cut out of the operating budget and 230 positions were lost as a result--it’s part of the pressure.”
The university usually develops tuition and fee proposals each February and March, with final rates submitted to the Board of Visitors at the end of either month. This allows the university to adjust to the actions made during the general assembly session.
These adjusted rates help students plan for the financial costs of the upcoming academic year, help students make decisions such as attendance at summer school, and allow the university scholarships and financial aid office to deliver timely and effective financial aid award information to current and prospective students.
The 2010-2011 average cost of education at Virginia Tech was $15,866 and in 2011-2012 the estimated cost is $16,208, an increase of only $342.
The 2010-2011 total of undergraduate tuition plus general fees totaled $8,098, while in 2011-2012 the estimated total of tuition and fees is $8,899, an increase of $801.
“Considering my financial background, my parents are able to pay my full four years of in-state tuition so this raise isn’t the worst thing, but it certainly does make things more stressful,” said Neel Patel, a biological sciences major and student representative in the Student Goverment Association.
Patel is not just looking at the increase from an academic standpoint. His social life spending will also be affected. “There will probably be certain things I would have to give up or find a way to pay for on my own, like road trips or concert tickets. I may have to be more frugal when buying books, maybe find ways to rent them or find places that will buy back for more money. Subleasing my apartment next summer, assuming I am not living there, is now a must,” Patel said.
A version of this article appeared in the Jun 9 issue of the Collegiate Times.
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this is a perfect example of how a welfare state works. people complain about how they don't earn enough or deserve something more (education). the government then hands out money to the people to go to college (and consequentially the schools get less overall) and then as a result prices must increase. same concept with minimum wage.
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Actually, this is a perfect example of how giving banks $700 billion dollars works.
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It's also been going on for a long time. For the past four years, tuition has been raised, salaries cut and teachers fired, while Steger has made $457,040 - more than President Obama makes.
http://www.collegiatetimes.com/stories/14494/steger-distracts-the-masses-with-bread-circuses
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Actually, this is a perfect example why you should sign up for courses in Economics and Language & Logic.
The federal bank bailout has nothing to do with a state school raising its tuition. Stay in school: you have much to learn.
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How is supply and demand at work here? They're not raising tuition because too many students are being accepted and demand for higher education needs to decrease. Did you see the part where $75 million was cut from the operating budget?
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exactly, demand for higher education needs to decrease because it increased as a result of supplying lots of money to people so that it is more feasible for them to go in the first place.
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exactly, demand for higher education needs to decrease because it increased as a result of supplying lots of money to people so that it is more feasible for them to go in the first place.
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@Brady, just because the tuition increase doesn't go towards more students doesn't imply that it is not supply and demand. The school has decided on its level of utility in different areas. As a result, it minimizes its costs and decides that the gains from adding more students is not as valuable as whatever else they are spending money on. Therefore at the moment for small increases in tuition its supply curve of eduction is relatively inelastic.
The government supplies people with subsidized funding such as low-rate loans thereby increasing the demand for education. Schools recognize that as more people want to go, the can charge a higher rate (even if they are not adding more students).
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Actually VT is cheaper than almost all of its peer group. And compared to a private college it is a steal.
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Actually VT is cheaper than almost all of its peer group. And compared to a private college it is a steal.
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Just saw an article in the Virginian pilot saying VA schools would be able to add 6000 more students overall due to budgeting. Not sure if it meant mostly community colleges tho
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