BURLINGTON, Vt. (WCAX) – The newly merged Vermont State University will offer free tuition for in-state students beginning the fall 2024 semester.
The offer is for any Vermonter with an adjusted gross income of $50,000 or under.
The school cites a significant drop in enrollment as one of the initial reasons for the merger. In the past decade, WCAX has reported a 20% drop. Simultaneously, Vermont public colleges have lower state-funded tuition, meaning students tend to pay more than those at other institutions in other states.
General tuition for VTSU is a little over $10,000 per full year. The funding for the new financial aid program comes from the state’s allocation of funds from VTSU, endowed scholarships, and the operating budget of the university.
Across all of the campuses, VTSU says they have 5,265 students enrolled. Maurice Ouimet of VTSU says enrollment from out-of-state students dropped for this inaugural year, but in-state enrollment remained steady. Now, the hope is that extending financial aid will boost in-state students.
“Ultimately, we were competing with one another for Vermont students. And it wasn’t really fair that one institution might offer a slightly different financial aid award than the next. So now, we’ve leveled the playing field. There’s no competition involved in this – we’re really trying to do what’s right for our students and the fit that’s working for them,” said Ouimet.
Although they’re starting at the $50,000 income threshold this year, VTSU says they hope to add more in the future and are confident it can continue, thanks to that combination of multiple funding sources.
“Many students, you know, take advantage of this,” said Ouimet, “we would certainly have to monitor that carefully. But, you know, based on where we’ve been historically and what kind of percent increase we can expect, we’re confident that we’re going to be able to accommodate all the students who would be qualified for sure.”
So far, Vermont State University says their applications for next fall’s incoming class are up around 20%, both in and out of state.
Ouimet says federal changes to FAFSA meant it just opened up for students to fill out this month. The priority deadline for financial aid is April 1, and they will begin awarding financial aid packages at the end of February.