Tuition will increase 2.7 percent for in-state students and 2.5 percent for out-of-state students in the 2017-2018 academic year — the smallest percentage increase since 1977, according to a weekend news release.
In-state tuition will rise to $15,504 next year, and out-of-state tuition will rise to $39,120. That does not include fees, which are expected to be $2,259, or room and board, which will be $12,022.
“The university’s strategy to hold down tuition increases is possible because of our private philanthropic support for scholarships in the comprehensive campaign and because we use more than half of our state appropriation to support Vermont students with scholarships and other financial aid,” said UVM President Tom Sullivan in a statement.
UVM is still among the most expensive public universities in the country. According to figures from U.S. News and World Report for the 2016-2017 academic year, it was more expensive than any other flagship public university in New England except the University of New Hampshire. In-state tuition there was slightly higher — though out-of-state tuition was much cheaper.
Observers have often cited low levels of state support for higher education as one reason UVM is more expensive than many other public universities. A 2015 report by the American Academy of Arts and Sciences found that Vermont ranked fifth lowest in its spending per full-time student at public colleges and universities.
UVM touts other metrics meant to demonstrate the school is affordable to Vermont residents by citing its performance against national averages.
The average amount of financial aid awarded to Vermont students last year was $11,324. That’s more than the $8,384 average for national public research institutions, according to figures from the Integrated Postsecondary Education Data System.
The release states further that the median debt for Vermont students with debt upon graduation was $24,858 last year. That’s below the $30,100 national average for students at public and private nonprofit colleges, according to a 2015 report by the Institute for College Access and Success.
UVM announced earlier this year that it will waive the $2,259 in fees for Vermont students who qualify for federal Pell grants based on income. That’s 26 percent of in-state students, according to school officials.
Pell-eligible Vermont students already pay no tuition through a combination of institutional, state and federal grants, according to school officials.
