A study of admissions and financial aid data found areas where the University of Virginia can tweak financial aid to boost net revenue, but big decisions about the marquee AccessUVa program will come after more research.
In a presentation to a committee set up by the school’s Board of Visitors to study the increasingly expensive program, consultants said that an econometric study of the data showed that shifting some money around could slightly increase net revenue without hurting the other variables officials are worried about.
That said, officials heard, simply shifting aid away from out-of-state students would mean a drop somewhere: either in net revenue or in the metrics of the incoming class.
Consultants are currently launching a large survey that will measure what variables affect the decisions of students to apply to and attend the university.
The study will, in large part, measure how people see the university, not how the university actually is, consultants said.
In addition to looking at categories such as ultra-high-performing students and underrepresented minorities, the study will break the state down into regions.
Since that study won’t be finished until well after the next time tuition is set, the board will consider the tweaks suggested by the study once university staff have researched what exactly they would look like, said Michael Strine, UVa’s executive vice president and chief operating office.
Strine said the study will also give university officials a better idea of where the “tipping point” is, beyond which the need for more financial aid eats up any increases in tuition.
Vice Rector Mark J. Kington said the university already does a good job of providing for the poorest students, but must make sure to look out for families that aren’t poor and aren’t rich enough to pay full tuition.
“It’s this other group that is just getting priced out that we have to address,” he said.
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