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Radford University Board of Visitors approves tuition and fees for 2023-2024 academic year

Radford, VA (04/28/2023) — In a special meeting held on April 28, the Radford University Board of Visitors discussed and voted on the tuition and fees for the 2023-2024 academic year. The Board of Visitors' primary goal is to maintain the highest standard of education for Radford University students while minimizing the financial burdens on students and addressing increased inflationary pressures.

Tuition will rise by 3% and will affect undergraduate and graduate students at all locations, including Radford University Carilion in Roanoke. The updated rate applies to both in-state and out-of-state students.

The special meeting was called to allow students and their families to make informed decisions about financial commitments for the upcoming year, with admissions and deposit deadlines for the fall approaching.

The Board of Visitors noted that the decision may be revisited depending on the outcome of an approved state budget.

"These adjustments allow for Radford University to continue delivering high quality academic programs and to make future investments for student success," said Rector Deb McMahon. "We made a decision that best minimized the impact on students while addressing inflationary realities."

"We believe in our positioning as one of the most affordable institutions in the Commonwealth," President Bret Danilowicz said. "As a result, there is sensitivity to the challenges that students and families face when the cost of education rises. Radford University remains committed to providing significant financial support for students to ensure that our prestigious degree remains accessible and affordable alongside a high-quality student experience."

McMahon pointed to the university's costs versus nationwide economic trends over the past six academic years. For undergraduate Virginia residents since 2017-18, Radford University's total cost (tuition, room and board, fees) has grown 13 percent, less than the average rate of the state's four-year public institutions. This period included three years of flat tuition fees, and a fourth where rebates were made available to in-state undergraduates. The nation's Consumer Price Index (CPI) showed a 19 percent rate of change over the same period.

"This was neither a quick or easy decision. For the fiscal health of the university, and to continue delivering a high quality of service to our students, this move was necessary," McMahon said.

In addition to tuition, the board also voted to increase fees to support auxiliary operations, which are required to be self-supporting. This includes revised room and board fees that provide more inclusive services to limit additional out-of-pocket costs students have incurred in the past and meet their demand.

Radford University remains one of the most affordable institutions in the Commonwealth of Virginia. Among the state's 15 public four-year institutions in 2022-23, Radford offered the third-lowest total cost of education when tuition, fees, and room and board were combined.

Students seeking financial aid have found help at Radford. In 2021-22, the most recent year that numbers are available, over 60 percent of full-time undergraduates received financial assistance. With the increase in need-based financial aid in the state budget, Radford University will continue its commitment to maintaining student affordability.

A budget overview and public comment session was hosted by the Board of Visitors on April 14, while written comments were received through April 25.

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