Average cost of college went up for students in Virginia in 2022-23 school year

Average tuition fees rose 2.1% for college students in Virginia in the 2022-23 school year, according to the latest disclosure from the National Center for Education Statistics.

Data shows that students paid $16,180 on average to attend higher education courses at the time, $334 more than the previous school year.

Among the 117 institutions providing full disclosure in the state, Washington and Lee University stood out with the highest tuition fees, reaching an average of $61,750. The University of Richmond followed with an average of $60,330 per year. Southside Virginia Community College students were offered the lowest annual tuition fees at $4,755.

Currently there are 127 higher education institutions in Virginia.

At the time, at least $618.5 million in grants or scholarships were awarded to full-time undergraduates who started college in Virginia. Additionally, federal student loans reached more than $216.1 million.

Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.

According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.

Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.

Of the 127 institutions in Virginia, 10 did not provide detailed data on tuition fees, including Lotus Professional College, Bon Secours St Mary’s Hospital School of Medical Imaging, and Henrico County-Saint Marys Hospital School of Practical Nursing.

Available data sometimes exceeds 100% due to rounding and administrative calculations.