BOV votes to raise tuition and fees, appoints new Rector
Michael Watson | Editor at Large
Last Updated:7/15/09 Section: News
The College of William and Mary's Board of Visitors voted to raise tuition and fees for both in-state and out-of-state students last week at its April meeting, at which it also chose Henry C. Wolf ('64 J.D. '66) as Rector. In-state undergraduate students will see tuition, fees, room, and board rise by 5.6% to $19, 302, while out-of-state undergraduate students will see total costs reach $39,466, a 5.6% increase. Graduate school tuition and fees also rose for all College programs.
Stimulus money will be used to offset diminished state funding for the College. In fiscal year 2010, state funding is projected to fall by $4.3 million; the $3.8 million in federal funds will reduce the public funding gap to $0.5 million less than initially projected. In a statement, President Reveley said, "Thanks to federal stimulus funds, we are able to keep the undergraduate tuition increase below five percent." Vice President for Finance Sam Jones said in a statement that "this [FY 2010] budget recognizes the one-time nature of the federal stimulus funds and the permanent reduction in state support that we'll be addressing in each budget going forward."
The tuition and fee increases will fund increased need-based financial aid, expenses incurred by the opening of new facilities, increased utilities rates, and general maintenance costs. State-authorized student aid will rise by $2.4 million, and College sources say that this increase will be principally funded by internal College sources. According to Vice President Jones's statement, approximately one-third of current student aid is supported by "student funds" and two-thirds from College sources. Regarding the increase in aid money, Jones said in his statement that "increasing our amount of student aid was a must."
Henry C. Wolf previously served as Vice Rector, a position he has held since 2006, and has served on the Board of Visitors since 2003. Wolf has served as Vice Chairman and Chief Financial Officer of Norfolk Southern Corporation, a company he joined in 1973, from 1998 until 2007, and he currently serves on the boards of AGL Resources and Hertz Global Holdings and as a trustee of the Colonial Williamsburg Foundation. He served in the U.S. Army Judge Advocate General Corps for four years.
According to VPAP data, Wolf has donated $30,412 to state political candidates and committees, with $21,162 going to Democratic Party-affiliated recipients, $5750 going to non-partisan groups, and $3500 going to Republicans. The Board of Visitors also appointed John W. Gerdelman ('75) Vice Rector and Janet Brashear ('82) as the Secretary of the Board. Outgoing Rector Michael K. Powell ('85) will step down from the Board after Wolf takes office July 1.
Stimulus money will be used to offset diminished state funding for the College. In fiscal year 2010, state funding is projected to fall by $4.3 million; the $3.8 million in federal funds will reduce the public funding gap to $0.5 million less than initially projected. In a statement, President Reveley said, "Thanks to federal stimulus funds, we are able to keep the undergraduate tuition increase below five percent." Vice President for Finance Sam Jones said in a statement that "this [FY 2010] budget recognizes the one-time nature of the federal stimulus funds and the permanent reduction in state support that we'll be addressing in each budget going forward."
The tuition and fee increases will fund increased need-based financial aid, expenses incurred by the opening of new facilities, increased utilities rates, and general maintenance costs. State-authorized student aid will rise by $2.4 million, and College sources say that this increase will be principally funded by internal College sources. According to Vice President Jones's statement, approximately one-third of current student aid is supported by "student funds" and two-thirds from College sources. Regarding the increase in aid money, Jones said in his statement that "increasing our amount of student aid was a must."
Henry C. Wolf previously served as Vice Rector, a position he has held since 2006, and has served on the Board of Visitors since 2003. Wolf has served as Vice Chairman and Chief Financial Officer of Norfolk Southern Corporation, a company he joined in 1973, from 1998 until 2007, and he currently serves on the boards of AGL Resources and Hertz Global Holdings and as a trustee of the Colonial Williamsburg Foundation. He served in the U.S. Army Judge Advocate General Corps for four years.
According to VPAP data, Wolf has donated $30,412 to state political candidates and committees, with $21,162 going to Democratic Party-affiliated recipients, $5750 going to non-partisan groups, and $3500 going to Republicans. The Board of Visitors also appointed John W. Gerdelman ('75) Vice Rector and Janet Brashear ('82) as the Secretary of the Board. Outgoing Rector Michael K. Powell ('85) will step down from the Board after Wolf takes office July 1.
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