RICHMOND VA: (ROCKTOWN NOW) – According to the College Board, the average cost of in-state tuition and fees at public universities in Virginia for the 2024-2025 academic year is approximately $15,6601. This is significantly higher than the national average of $11,6101. Despite a 7% decrease from 2019-2020 when adjusted for inflation, Virginia’s tuition costs remain among the highest in the country.

The report also highlights that salaries are not keeping pace with inflation, which is putting financial pressure on students and their families. This economic strain is likely influencing students’ decisions on which colleges to attend, potentially leading them to choose more affordable options or seek additional financial aid.

Additionally, Virginians carry a substantial amount of student loan debt. The state ranks fourth in the nation for the highest average student loan debt per borrower. This high debt burden can have long-term financial implications for graduates, affecting their ability to save, invest, and make major purchases.