Vermont Business Magazine The University of Vermont Board of Trustees today passed the lowest tuition percentage increase in 40 years at its Commencement weekend meeting.Under the resolution approved by the Board, in-state tuition increased$408 or 2.7 percent (from $15,096 to $15,504 per year); and out-of-state tuition increased$960 or 2.5 percent (from $38,160 to $39,120 per year).
The new rates for both Vermont and out-of-state students represent the lowest percentage increasessince 1977.
Beyond these historically low increases, the university providessubstantial financial aid resources that help keep UVM accessible and affordable for Vermont students.
For instance, the average amount of financial aid awarded to Vermont students last yearwas$11,324–an amounthigher than the average discountof$8,384for national public research universities. More than 90 percent of Vermont students receive scholarships or other types of financial aid.
“The university’s strategy to hold down tuition increases is possible because of our private philanthropic support for scholarships in thecomprehensivecampaign and because we use more than half of our state appropriation to support Vermont students with scholarships and other financial aid," UVM President Tom Sullivan said.
Low tuition increases at UVM have helped keep the amount of debt students graduatewithwell below national figures. In fact, the median debt for Vermont students (for students with debt only) upon graduation last year was $24,858, considerably below the $30,100 average for students at public and private nonprofit colleges.
Sullivan also pointed out that when scholarships and financial aid are taken into account, 42 percent of Vermont students attended UVM tuition free last year.
RELATED:James Fallows urges UVM Class of 2017 to local civic engagement
Source: UVM 5.20.2017