Tuition and Fee Policy (language only)

Item 136 #2c

Language
Page 91, after line 8, insert:
"D.1. Consistent with the authorization provided in § 4-2.01 b of this act, the boards of visitors or other governing bodies of institutions of higher education shall determine tuition, fees, and charges for each fiscal year of the 2002-2004 biennium, provided that the boards of visitors make every effort to minimize the tuition and fee increases for in-state undergraduate students.  It is expected that tuition increases for undergraduate in-state students shall not exceed nine percent per year.
2. In setting tuition and fee increases for each of the next two fiscal years, the boards of visitors are directed to consider the following:  (a) the consumer price index;
(b) in-state tuition charges of each institution's public peer group; (c) the maximization of other revenues by setting tuition rates for out-of-state students, graduate students and first professional students at market rate or higher without adversely affecting the access of in-state students to Virginia’s public colleges and universities; (d) the reflection of the amortized cost of the construction and renovation of buildings approved by the Commonwealth of Virginia Educational Institutions Bond Act of 1992, the 21st Century College Trust and the Building Virginia’s Future capital improvement programs in the tuition and fee rates for nonresident students; (e) the feasibility of setting aside a portion of the tuition increase to provide additional financial aid resources, in combination with state, federal, and private resources; (f) the impact of tuition increases on access and the availability of student aid; and (g) the impact of a tuition increase on the composition of the institution’s applicant pool.
3.  In determining tuition and fee charges, the boards of visitors or other governing bodies of institutions of higher education shall (a) make every effort to achieve potential cost savings as opposed to tuition increases and (b) not increase the current proportion of nonresident undergraduate students if the institution's nonresident undergraduate enrollment exceeds 25 percent.
4.  Two-year public institutions are exempt from the restrictions contained in 3(b) above
for the 2002-2004 biennium.
5.  Norfolk State University, Virginia Military Institute, and Virginia State University are exempt from the restrictions contained in 3(b) above for the 2002-2004 biennium.
6.  Each institution shall communicate its policy, as approved by its board of visitors, to the Secretary of Education, the State Council of Higher Education, and the Chairmen of the House Appropriations and Senate Finance Committees by May 15 of each fiscal year.
7.  The Department of Planning and Budget is hereby directed to administratively appropriate to the institutions of higher education additional nongeneral fund revenues generated by the tuition policy in place for the the 2002-2004 biennium."

Explanation
(This amendment modifies the tuition and fee policy for higher education institutions.)