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VMI projects enrollment rebound and outlines FY27 budget with illustrative 3% tuition increase
Summary
VMI staff told the board they are projecting a new class of about 480 cadets (307 Virginians, 173 out‑of‑state), census enrollment near 1,594, and built $4.4 million of increased costs into a FY27 budget model that includes an illustrative 3% tuition increase for in‑state and out‑of‑state students.
Finance and enrollment staff told the Board of Visitors that fiscal‑year 2027 planning assumes a new class of roughly 480 cadets—about 307 Virginians and 173 out‑of‑state students—yielding a projected census enrollment of approximately 1,594 if those targets hold.
The budget presentation embedded conservative assumptions: projected state educational funding, $4.4 million in increased operating costs (salaries, benefits and contract escalations), and an illustrative 3% tuition and fee increase for both in‑state and out‑of‑state cadets as a working assumption. Staff said they modeled both conservative and optimistic enrollment scenarios and will return with finalized numbers after the General Assembly completes the state budget process.
Admissions and enrollment staff reported a strong application cycle—more than 2,000 submitted applications in the most recent cycle—and 478 deposits to date for the incoming class. Officials said they expect another 85–100 deposits before the cycle closes and discussed retention and "melt" (cancellations after deposit) as a continuing planning concern.
On financial aid, administrators briefed the board on federal negotiated rulemaking changes that could affect loan proration and Parent PLUS loan caps; staff said VMI’s full‑time enrollment model should limit the institute’s exposure but that families and staff will be kept informed as rules finalize this summer.
Board members asked how VMI’s tuition compares with peer institutions. Staff said VMI is among the more expensive Virginia public institutions and will circulate a comparative table showing in‑state and out‑of‑state rates and how VMI’s comprehensive five‑day educational model factors into the calculation.
Finance leadership said if enrollment exceeds the planning assumption, the institute could restore some previously reduced budgets; conversely, lower enrollment will require midyear budget adjustments. The board directed staff to continue scenario planning and to bring additional comparative tuition data to the committee meeting.
