Ferrum College announced today that it will not increase full-time undergraduate tuition rates for the 2021-22 academic year. The College also guarantees that tuition will not increase cumulatively more than five percent from Fall 2021 to Spring 2025, and notes the average four-year scholarship and grant package will be over $100,000.
“This is just one of the ways in which we are responding to the financial toll this year has had on our students and their families because of COVID-19,” said President David Johns. “Ferrum College is committed to remaining one of the most affordable colleges in Virginia, and now we’re making it official.”
Annual tuition for the current 2020-21 academic year is $36,480 before any institutional aid. The College awards over $20 million in institutional aid each year, and 99 percent of its students receive some kind of financial aid through scholarships and grants, loan programs, and work study opportunities.
“We recognize the importance of continuing to provide a quality, well-rounded, affordable education in a safe environment,” said Senior Enrollment Officer Eric Grundman. “By freezing our full-time undergraduate tuition for the 2021-22 academic year and capping future full-time undergraduate tuition increases to no more than five percent cumulatively through the spring semester of 2025, Ferrum College will remain one of the most affordable private colleges in the Commonwealth of Virginia. This will allow families to plan and budget for the future because it relieves the stress and uncertainty of not knowing future tuition rates.”
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