Virginia Union University has reduced its undergraduate tuition rate by 32 percent, the school said in a release on Tuesday.
To provide greater access and affordability to a more diverse student body, the university under the “Access to Excellence” initiative cut the annual tuition from $15,530 to $10,530 including fees.
The new move was taken after months of investigating tuition, room, and board, and fees of peer university’s in Virginia and comparable universities nationally.
It will further bring down tuition burden on students, nearly 97 percent of them, who are currently receiving state and federal student aid.
“We realize how crippling student loan debt has become for students nation-wide,” said Dr. Hakim Lucas, President & CEO of Virginia Union University.
“Students enroll in college seeking a career path that will allow opportunity for long-term financial stability. However, they end up spending most of their working years paying back student loans. Virginia Union is doing what it can to ensure that students in the Commonwealth and across the nation have access to an education that will equip them with the tools they need to be successful, while avoiding the crippling bill waiting at the other end of graduation.”
The re-modeled tuition rate makes the university the highest value and lowest cost HBCU in the Commonwealth of Virginia. All enrolled students will be eligible for the program starting the Fall 2020 semester.