UVA and its partners are seeking to lower tuition and fees on UVA’s most affordable students and the number of students it expects to enroll through the fall 2019 term.
The cost-cutting is part of a wider effort by the Virginia school, which faces a projected $4 billion budget deficit in 2019, to cut costs, with $200 million a year from the $3.3 billion budget that would have been available to cover tuition and room and board, according to university spokeswoman Jessica Haskins.
Haskens declined to say how much tuition and other costs were being eliminated.
She did say that UVA is looking at reducing the number or types of students in a number of categories, including for the first time at the undergraduate level, and that it is working on creating more flexible ways to enroll students.
In the fall of 2019, UVA plans to reduce the number in the undergraduate undergraduate class from 30,000 to 18,000, Haskes said.
That means that more students would be required to take on more of a financial burden.
UVA is also working on improving its student retention, as it will begin enrolling new students on an annual basis.
The university has also begun providing new financial aid to students in need, but the new policy does not include financial aid for international students.
“We are looking at ways to make it easier to transition international students to the campus and to support them with the kinds of financial aid that are available,” Hasksens said.
The university also is looking to provide more financial aid packages for international undergraduate students.
That includes a $1,000 per semester loan that students are required to repay upon graduation.
For the fall 2018 academic year, students will be able to borrow a maximum of $5,000 for tuition and $1.25 for room and rent.
That will allow them to borrow up to $10,000 during the term and continue paying that amount until they graduate.
UVA will be in a stronger position to offer financial aid if students are looking for financial aid.
Hasksins said that the university also will offer a $300 loan to international students for the fall, which can be repaid through their next term.
Other changes will be coming this year, including the addition of the Department of Chemistry to the department.
The department will continue to be a research-oriented program that focuses on chemical processes and materials science.
The addition of this department has not been part of the UVA process for many years.
A few other departments that have been added to the list include the School of Engineering, School of Humanities and Social Sciences, School for International and Public Affairs and the School for Social Policy and Management.
Students are expected to graduate from the university in September.
Haskins said the new budget is the first step in a broader process to reduce costs.
The new budget includes $600 million to create a new office of human resources.
That office will focus on the education of the workforce, which has been a major focus of the university.
According to Hask, UVS is also considering the hiring of about 5,000 more people.
“We have seen a number, including some who have been here a few years and have gone on to do great things, who are looking to come to UVA,” she said.
“It’s a good time to look at those people and see what they are going to bring to the table.”