Tuition increase, layoffs announced
Will Clements | Editor in Chief (VIO)
Last Updated:12/13/09 Section: News
In a letter to the William and Mary community today, President Reveley announced a mid-year tuition increase of $300 for all undergraduate, business and law students. An additional $300,000 in financial aid will be distributed to offset costs for some families.
Mr. Reveley's letter noted that "thirty years ago the Commonwealth of Virginia provided almost 43% of the College's operating budget. Today it provides less than 14%." He wrote that Virgina ranks 40th nationwide in its financial support of in-state students.
The letter recognized that the College had intentionally increased the size of the current freshmen class to raise revenue. Mr. Reveley also mentioned that millions in federal stimulus money helped the College in the past year, but will quickly run out.
Impending layoffs of college employees also confronts the College. Mr. Reveley wrote, "we are sadly no longer able to retain everyone," and that "the layoffs will not begin until January 2010."
There was no mention of whether the College will increase the percentage of out-of-state students in the class of 2014. Such a measure would dramatically increase tuition revenue. As the state now ranks 40th in subsidies for in-state students, such a measure may be under consideration. Mr. Reveley stated in an interview earlier this semester with The Informer that "The more out-of-state students we have, the better we're off financially."
Mr. Reveley's letter noted that "thirty years ago the Commonwealth of Virginia provided almost 43% of the College's operating budget. Today it provides less than 14%." He wrote that Virgina ranks 40th nationwide in its financial support of in-state students.
The letter recognized that the College had intentionally increased the size of the current freshmen class to raise revenue. Mr. Reveley also mentioned that millions in federal stimulus money helped the College in the past year, but will quickly run out.
Impending layoffs of college employees also confronts the College. Mr. Reveley wrote, "we are sadly no longer able to retain everyone," and that "the layoffs will not begin until January 2010."
There was no mention of whether the College will increase the percentage of out-of-state students in the class of 2014. Such a measure would dramatically increase tuition revenue. As the state now ranks 40th in subsidies for in-state students, such a measure may be under consideration. Mr. Reveley stated in an interview earlier this semester with The Informer that "The more out-of-state students we have, the better we're off financially."
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a private wm?
posted 11/21/09 @ 4:08 PM EST
Hmm, this makes one think the school might just be better off private.
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