WVU Students to See Tuition Increase After Budget Approval
MORGANTOWN, W.Va (WDTV) — West Virginia University’s Board of Governors has approved an estimated $1.2 billion budget for the upcoming fiscal year.
The approved budget includes a tuition increase of just over 2.5% on average across the WVU system.
West Virginia resident students will see an increase of 2.62% or $120 per semester, while tuition for out-of-state students will increase by 2.88% or $372 per semester.
Both increases include a $12 college fee increase, calculated in part to pay for costs associated with the recreation center located in the new Reynolds Hall.
Accommodation rates will increase by 3%, except at WVU Tech in Beckley, and food costs will increase by 4.5%.
“We remain extremely mindful of our students and their families as they grapple with the financial aspects of obtaining a college education, and so we are increasing scholarship opportunities to help students pursue their goals here at WVU. “said Paula Congelio, Vice President for Finance and Chief Financial Officer. “At the same time, the University is also feeling the effects of inflation as the prices of goods, services and travel rise.”
The University forecasts a negative adjusted operating margin in the coming year despite modest increases in grants and contracts due to many factors, including a decline in enrollment related to COVID-19 and the fact that WVU does not will not receive federal or state money related to COVID-19 in fiscal year 2023.
Congelio told the Council that the fiscal year 2023 budget includes $1.159 billion in revenue and $1.207 billion in operating and non-operating expenses.
Another contributor is the compensation program offering increases to employees.
“We really wanted to take care of our employees, especially in light of the current economic challenges that so many of us are facing,” said Vice President of Strategic Initiatives Rob Alsop. “The average increase was 4-5%, and we also increased the minimum starting hourly pay for WVU employees to $13.”
The next regularly scheduled meeting is scheduled for September 9th.
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