The Finance Subcommittee shall develop a financial/pricing model (including a long term financial plan) that, to the extent possible, accomplishes the following objectives simultaneously:
1. Advances the goals of the 2011 “TJ21” state legislation related to improving affordability for low-income and middle-income students and their families.
(Note that the TJ21 legislation declares it is state policy to “provide need-based financial aid for low-income and middle-income students and families,” and the advisory committee created by the legislation has since defined “middle income” as up to 400% of the federal poverty level. The Board was advised last year that this represents approximately 80% of Virginia households).
2. Increases the predictability of tuition and fee costs and offsetting financial aid during an undergraduate student’s four-year course of study at the University.
3. Aligns in a sustainable way the student financial aid necessary to achieve these affordability and predictability goals and the resources available to AccessUVA from all sources.
4. Provides the sustained instructional funding necessary to preserve and enhance academic excellence in all schools, including the College of Arts and Sciences.
5. Advances the objectives of the Board related to enhancing the University’s diversity and inclusiveness objectives.Members:
- John A. Griffin, Chair
- Frank B. Atkinson
- Kevin J. Fay
- Victoria D. Harker
- John G. Macfarlane III
- George Keith Martin, Ex-officio
- AccessUVa Overview
- AccessUVa Student Demographic Profile (as of Fall 2013)
- Art and Science Reports
- Interactive Model for Tuition and Financial Aid
- William & Mary Promise
- Financing Academic Excellence - (Draft 4-yr financial plan, dated March 2013)
- Lumina Foundation - April 2014 - Papers Exploring New Models of Student Financial Support