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Williamsburg Sun

Tuesday, October 15, 2024

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

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Katherine A. Rowe, President | William & Mary

Katherine A. Rowe, President | William & Mary

College tuition fees rose 0.5% in Williamsburg city in the 2022-23 school year, according to the latest disclosure from the National Center for Education Statistics.

Data shows that students paid $32,865 on average to attend William & Mary courses at the time, $158 more than the previous school year.

For comparison, Virginia universities charge students an annual average of $16,180 per year.

At the time, a total of $13.9 million in grants or scholarships were awarded to full-time undergraduates who enrolled in the university. Additionally, federal student loans reached $3.9 million.

Currently, there are 6,797 students enrolled in William & Mary.

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.

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

Total Student Aid in William & Mary in 2022-23 School Year

InstitutionNumber of Students Receiving GrantsTotal Amount of Grants ReceivedAverage Amount of Grant Per StudentNumber of Students Receiving LoansTotal Amount of Loans ReceivedAverage Amount of Loans Per Student
William & Mary665$13,904,016$20,908405$3,946,994$9,746

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