Trustees' Vote Reinforces Commitment to Affordability and Access
Vermont Business Magazine The University of Vermont Board of Trustees reviewed and approved a tuition rate package for academic year 2024-25 in a special meeting today.
The approved figures include a 3.5 percent increase in tuition for out-of-state students and an extension for Vermonters of the tuition freeze that has been in place since 2019.
The university will also make more Vermont households eligible for the UVM Promise by increasing the household income threshold by 25 percent to $75K beginning next fall. The UVM Promise commits university financial aid resources to ensure that admitted students from more than half of Vermont’s households can attend UVM paying zero tuition.
“I am proud we are able to expand our UVM Promise to more families and renew our commitment to affordability for all Vermonters,” UVM President Suresh Garimella said. “Access for Vermonters to a high quality university education is vital to the state’s economic future and part of our mission as Vermont’s flagship land-grant university.”
The rate package includes modest increases in the university comprehensive fee for all students and in room and board rates. The university will also introduce program fees for undergraduate students in certain majors that require more costly teaching and laboratory resources. Specifically, those include majors in Nursing and Health Sciences, Engineering and Mathematical Sciences, and Business.
Rising costs for labor, utilities, healthcare, facilities renewal, and educational resources necessitated the tuition increase for out-of-state students, along with the implementation of the program fee and other fee increases.
“In the face of significant cost increases caused by pressures that are all too familiar to us as consumers, we proudly prioritize an affordable UVM experience for our students,” said Jay Jacobs, Vice Provost for Enrollment Management. “We’ve made every effort to hold increases to the lowest possible level while still meeting or exceeding students’ expectations.”
Jacobs reiterated the university’s commitment to making Vermont’s flagship public university as accessible as possible for the state’s residents.
“Affordability for Vermonters remains one of our highest priorities as an institution,” said Jacobs.
About the University of Vermont
Since 1791, the University of Vermont has worked to move humankind forward. UVM’s strengths align with the most pressing needs of our time: the health of our societies and the health of our environment. Our size—large enough to offer a breadth of ideas, resources, and opportunities, yet intimate enough to enable close faculty-student mentorship across all levels of study—allows us to pursue these interconnected issues through cross-disciplinary research and collaboration. Providing an unparalleled educational experience for our students, and ensuring their success, are at the core of what we do. As one of the nation’s first land grant universities, UVM advances Vermont and the broader society through the discovery and application of new knowledge.
UVM is derived from the Latin Universitas Viridis Montis (in English, University of the Green Mountains).
Source: 11.1.2023. BURLINGTON – The University of Vermont