- Virginia Commonwealth University's board will decide at its May 10 meeting whether it will adopt "market-based tuition pricing," which would do away with block-pricing for full-time students and charge by the credit hour.
- Charging by the credit hour would increase revenues for the university by $31.2 million next year and discourage students from signing up for the maximum of 18 credit hours (many later drop one or two classes) under the current block-pricing system, which would free up space in some courses for other students to get in.
- The university has been under pressure to minimize tuition increases, and the pre-credit-hour pricing scheme would magnify a proposed 4% increase to tuition and fees.
From the article:
... Hanson said the new system would include enhanced advising with a goal of enrolling students in “the right 15 hours over the course of eight semesters and getting them out the door with a degree.”
That would ultimately save money for students because those who enroll in a minimum load generally take six years to graduate, Hanson said. He estimated such a student pays an additional $60,000 for a degree when all costs are considered. ...