CHARLOTTESVILLE — University of Virginia President Teresa Sullivan and her staff have developed a four-year financial plan that would increase tuition and invest in faculty, technology and new programs as the public flagship confronts economic challenges and relies less on state funding.
The plan, which is still a draft, is among the U-Va. administration’s first major proposals since last summer, when leaders of the Board of Visitors asked Sullivan to step down because they wanted a bold, visionary leader who could more quickly enact change. After Sullivan was reinstated, she and her staff threw themselves into developing a strategic plan for the university, which is due at the end of summer. In the meantime, they drafted this financial plan.
The proposal calls for charging more for a U-Va. undergraduate education, while focusing the school’s fundraising efforts on faculty salaries, financial aid and renovation of Thomas Jefferson’s aging “academical village.” In coming years, students could expect annual tuition increases of about 3 to 4 percent, plus an additional fee of $2,000 for their third and fourth years that covers the higher costs of “smaller class sizes, rigorous capstone courses, global learning opportunities, career placement and internships, and increased research opportunities.”