Radford University Board of Visitors Executive Committee approves tuition and fee increase for 2022-2023
Radford University’s Board of Visitors Executive Committee approved tuition and fee rates for the 2022-2023 academic year for main campus and Radford University Carilion (RUC) at a special meeting on June 13, 2022.
In order to maintain the university’s high quality, student-focused education, strategic initiatives and campus experience, the executive committee approved an increase of 2.96 % for undergraduate in-state students, 3.00% increase for graduate students and a 3.97% comprehensive fee increase for the upcoming academic year.
“The members of the Radford University Board of Visitors, along with the university leadership, take the issue of tuition and fees very seriously each year,” said Bob Archer, rector of the Board of Visitors. “We have been most fortunate, with the assistance of the Commonwealth of Virginia, in maintaining an even tuition rate for a four-year period.
“However, we also recognize the realities of operating a university from a business perspective. At this time, the Board feels that a modest increase is justified due to the impact of increased costs at all levels, as well as other factors. We will continue to work, over time, to minimize the impact on our valued students due to the costs related to providing a quality education and experience at Radford University.”
As the university continues to navigate the impact of the pandemic and monitors enrollment trends, many factors were considered in determining the upcoming academic year’s tuition and fee rates. Those factors include the state budget, state-mandated salary and benefit increases and critical institutional priorities. The moderate tuition and fee rate changes are necessary to cover ongoing cost increases and maintain essential levels of instructional support and student services.
“We would all prefer that there be no increase,” said Mark Lawrence, a member of the executive committee and former rector. “But at the same time, we have to maintain the financial integrity of the enterprise and the ability to operate in a way that creates value for the students.”
“The university remains steadfast in its commitment to provide an accessible, transformative educational experience to our students in the most affordable manner,” said Stephanie Jennelle, the interim vice president for finance and administration, during a presentation to the Board.
Radford University was ranked as one of Money Magazine’s Best Colleges in America 2022, coming in at No. 296 out of the 2,400 colleges and universities evaluated nationwide. In addition, Radford University was ranked No. 50 on the Best Colleges in the South listing by the publication.