The W&M Board of Visitors sets the total costs for the upcoming academic year each spring. View the most current estimated annual costs to attend W&M.
In-state tuition guarantee
How does this impact in-state tuition going forward?
At its April 2013 meeting, the Board of Visitors adopted a plan that covers guaranteed in-state tuition costs for the next three entering classes – fall 2013, fall 2014 and fall 2015. The tuition for in-state freshmen in fall 2014 will be $12,428 – and will not increase again over the next four years for this entering class. The tuition for in-state freshmen in fall 2015 will be $13,978 – and will not increase again over the next four years for this entering class.
So the tuition guarantee under the W&M Promise is for four years?
Yes. There will be some exceptions where an undergraduate needs to take longer to finish (medical withdrawals, internship opportunities and transfer students who lack the prerequisites for their intended major). Those will be reviewed on a case-by-case basis. W&M, however, has an impressive graduation rate of 90%. Of those who graduate, 93% complete their work at William & Mary in four years or less.
Why are these tuition increases higher than the normal?
The normal pattern is for tuition to change every year. This plan is quite different, and provides a four-year package at a constant tuition rate. So to compare the two, you need to look at four-year costs. This plan is about establishing a firm foundation for the public ivy education W&M offers. In order to minimize the impact on students and their families, it also establishes a fixed price. The W&M Promise establishes tuition for in-state students in their first year and then freezes that cost for four years, eliminating uncertainty about rising tuition for Virginia families with students who enroll at W&M.
How does the W&M Promise impact those families who enrolled in the Virginia 529 College Savings Plan?
The full cost of W&M tuition and mandatory fees will continue to be covered by Virginia 529 prePAID (previously known as the Virginia Prepaid Education Program, or VPEP). For the 2014-2015 academic year, the full $17,656 in tuition and mandatory fees will be covered. Room and board, which will cost $10,344 on average, are not covered.
Room, board & fees
So some other costs, such as average rates for room, board and fees could increase?
Once in-state tuition is set for an incoming class, that number will not change for the next four years. There will be some increases in fees and other costs, but tuition, which has historically been the most volatile part of total cost, will be frozen.
What about total cost, including tuition, room, board and mandatory fees?
The total cost for entering in-state freshmen to attend W&M in fall 2014 will be $28,000. Total costs for subsequent years will be determined by the Board of Visitors each spring as they consider costs for room, board and fees, but the tuition will be frozen for each class.
How do I know if I’ll qualify for financial aid, and how do I apply for financial aid?
To be eligible for federal financial aid, all undergraduates must submit a Free Application for Federal Student Aid (FAFSA). Applicants also must complete the CSS Profile in order to receive any additional financial aid. (Consideration for merit scholarships does not require the submission of either application.) Upon receipt of your FAFSA and Profile, the financial aid office will determine if you qualify for federal, state, or institutional grants, federal work-study, or federal student loans, and will put together a personal aid package based on your eligibility.
The priority deadline for financial aid applications from students entering in the fall is March 1.
How does the W&M Promise impact Virginia students from family incomes less than $40,000?
The W&M Promise replaced the Gateway program and expanded available aid to Virginia families. Nothing has changed for in-state freshmen who previously would have qualified for Gateway with annual household incomes of $40,000 or less. Although no longer called Gateway, this plan maintains a no-loan, all-grant financial aid package for those in-state students and will continue to offer it to future in-state students who qualify.
The W&M Promise continues a long-term commitment by the university to provide no loan, all grant financial aid packages for students from these income levels.
What about Virginia families with household incomes greater than $40,000 with need?
The plan lowers the maximum amount of loans included with an in-state financial aid package for families with household incomes of more than $40,000. See examples of the financial impact of the W&M Promise on middle-income Virginia families—in particular, a family of four with two children in college and a household income of $100,000.
How does the William & Mary Promise impact out-of-state undergraduates?
This operating model – specifically the guaranteed tuition plan – does not apply to tuition for out-of-state undergraduates, but qualifying out-of-state students may receive up to 25% of their full cost of attendance in grant aid. The College will continue to evaluate out-of-state tuition on an annual basis to ensure it is comparable to or less than the tuition charged by peer universities.
So the W&M Promise is only for in-state undergraduates?
The W&M Promise is an innovative new plan to ensure and strengthen the university’s long-term excellence. That benefits out-of-state students as well as everyone else associated with William & Mary.
Do you have a target for annual out-of-state tuition increases?
We will continue to evaluate out-of-state tuition on an annual basis, considering costs, as well as tuition and fees compared to peer institutions.
How does this affect costs for out-of-state graduate students?
Tuition and fees for out-of-state graduate students will be set in the spring.
St Andrews William & Mary Joint Degree Programme
What does the W&M Promise mean for students who enroll in the joint degree program?
Tuition for the St Andrews William & Mary Joint Degree Programme does not change with the William & Mary Promise and will not be subject to a guarantee. Joint degree tuition remains separate.