BURLINGTON, Vt. - Officials at UVM are close to finalizing a tuition hike for the upcoming school year. At a Board of Trustees meeting Monday the number discussed as most likely is a 3.4 percent increase.
It would be the second lowest increase in the last 36 years and it’s welcome news to students considering UVM.
Prospective students toured the campus Monday as board members discussed the potential tuition change that will become final in May. News of the low tuition hike perfectly accompanied was well received by some of them.
“That's a really big thing at least for my parents you know,” New Yorker and high school junior Nicholas Stelluti said.
“They're going to help me do what I can but I’m pretty much on my own.”
The tuition increase will be voted on in May. But as the proposal stands it would increase undergraduate in-state student tuition from $13,728 to $14,184. Out of state student costs would go from $34,656 to $35,832.
“My top priority at the university is affordability and financial access for our students,” President Tom Sullivan said.
Sullivan says the small increase will help UVM stay competitive with similar schools. The higher tuition is due to increased faculty and staff wages and other small projects.
But UVM does have a disadvantage in some cases when it comes to controlling tuition. Some of its rival schools such as UConn and the University of Colorado in Boulder get a lot more money from state appropriations to help keep tuition down.
“That's not to put pressure on the state that's just the reality of what it is,” board chair David Daigle said.
Many UVM students save money through discounts and scholarships. In-state students save an average of $11,052 per year while out of state students save $13,454.
Stelluti hopes that money is out there for him.
“Gotta think UVM could really do something for me,” Stelluti said.