How much are you willing to pay to go to school here?
For many of us, that means how much are our parents willing to pay. UVM is a great school that’s recognized nationally. BusinessWeek.com recently stated, “The University of Vermont is ranked 40th on a list published by BusinessWeek.com of the 50 U.S. colleges whose bachelors degree graduates earn the highest salaries.” So that’s good, right? But just how good is it?
Out of state students pay up to $45,000 a year to go here, while in-state students pay
almost $25,000. And these numbers are expected to increase by 6% in the next year.
Six percent! While this decision is still in the process of being finalized, the Burlington
Free Press points out in a recent article that “The sticker price for out-of-staters [at UVM]
has been at least $3,000 higher at UVM than at each of five other state universities in
the Northeast since 1990.”
Last February, a 4.8% increase had been suggested, but had been “trimmed” to 4% as the
trustees of our institution took into account the impact of the recession on many families.
Let’s compare our school’s tuition rates to that of a few other colleges and universities
that many UVM students also applied to:
Comparatively, UVM is definitely more expensive than most of these schools, and
with the tuition increase, UVM’s price will seem astronomical. Many people base their
decision about which college they’ll attend on tuition costs, so if UVM’s costs increase,
again, that could affect the incoming classes and the diversity that UVM has always
cherished.
To help with these financial difficulties, there are some options. First, the FAFSA form
is a Federal Student Aid program that many students across the country use. The form
can be found here. Second, UVM has plenty of financial
services listed on its website including information
on financial aid deadlines and how to apply for financial aid. Lastly, there are plenty of
companies out there offering student loans, the most popular being Sallie Mae.
Moral of the story: If you or your parents are worried about the tuition increase, there are options out there. If you need financial assistance, use any of these sources or talk to
your local bank. No one should be left out of four years at UVM.