The University of Virginia Board of Visitors voted Thursday to set tuition and fee rates for the 2013-14 academic year.
The new structure allows the University to advance its academic mission while remaining responsive to concerns about the affordability of a college education and absorbing increased costs mandated by the state.
The board voted to increase tuition and mandatory fees for in-state undergraduate students by 3.8 percent, or $452 annually, to $12,458. Out-of-state student tuition and fees will increase by 4.8 percent, or $1,826 annually, to $39,844.
The total cost of education, which includes tuition and fees, first-year orientation fee, room and board, books, travel and miscellaneous expenses, is projected to be about $26,100 for an in-state student, or an increase of 2.9 percent. The projected total cost for an out-of-state student will increase by 4.3 percent, to about $53,800.
The University projects that about 34 percent of its in-state students will qualify for some kind of financial aid, with about 31 percent of out-of-state students projected for aid. After factoring in grant aid, the average net price for a first-year undergraduate Virginia resident is expected to be $14,723. The average, first-year net price for a non-Virginian after factoring aid is $28,491.