WASHINGTON, DC—On Thursday, the American Council of Trustees and Alumni (ACTA) praised the University of Virginia Board of Visitors for pursuing options that would reduce tuition rates. UVA already has one of the highest in-state tuition rates relative to other public research universities.
“College and university governing boards should look for ways to ensure a first-rate quality education remains accessible at public institutions. UVA can set an example by carefully examining non-instructional costs and salaries and finding ways to reduce its cost of attendance,” said Dr. Michael B. Poliakoff, president of the American Council of Trustees and Alumni. “At a time when most new jobs created in the Commonwealth of Virginia will require some form of postsecondary credential, the explosive growth in tuition rates is a grave burden for students and taxpayers. Raising tuition should not be a knee-jerk reaction to declining state investment. Today’s economic realities require innovative solutions.”
ACTA also encouraged the board to embrace financial transparency and restraint as best practices of governance. UVA currently has a $2.2 billion strategic fund, in addition to its considerable endowment, which grew during a decade of tuition increases. Freezing tuition would benefit students and taxpayers alike in a time of spiraling tuition hikes and economic uncertainty.