The University of Mary Washington Board of Visitors approved a $125.2 million operating budget for 2017-18 at its meeting on Friday, May 12. The budget includes a modest tuition and fee increase of 3.9 percent for full-time Virginia undergraduate students residing on-campus.
Full-time Virginia residents living on campus will pay $22,344 per academic year, including tuition, fees, room and board. Similarly, full-time out-of-state students living on campus will pay $37,590.
Tuition and related fees for Virginia students will increase by $358 per academic year, or 4.5 percent. Charges for room and board will increase by $278 per academic year, or 2.8 percent.
UMW is frequently cited as a “best buy” by national publications, such as the Fiske Guide to Colleges, 2017, and is lower in student cost than one-half of the Virginia public universities.
The 2017-18 budget addresses a number of critical funding priorities, including financial aid, adult education programming, implementation of a strategic enrollment plan, faculty and staff compensation, residence hall renovations, information technology needs and efforts to strengthen the university’s financial position.
“An important part of this budget is that the University will implement over $2.5 million in budget reductions and reallocations in an effort to reduce the reliance on tuition and fees,” President Troy Paino told the board.
“This budget supports the University’s commitment to excellence as a premiere liberal arts and sciences institution and to attracting top students and first-rate professors,” said Fred Rankin, rector for the Board of Visitors.
The university, with a total enrollment of nearly 5,000 students, features colleges of business, education and arts and sciences, and three campuses, including a residential campus in Fredericksburg, a second campus in nearby Stafford County and a third in Dahlgren, which serves as a center of development of educational and research partnerships between the Navy, higher education institutions and the region’s employers.