WILLIAMSBURG, Va. (WAVY) — William & Mary will cover the remaining cost of tuition and fees for all in-state Pell Grant-eligible students starting in the 2023-24 school year.
The university says it’s part of their goal to increase the the percentage of in-state Pell Grant-eligible undergraduates to 20% in four years.
“This program will ensure William & Mary can continue to recruit the best and brightest, without regards to family means,” said William & Mary President Katherine Rowe. “It marks a key milestone in our continued efforts to increase access and affordability for all of our community. William & Mary is strongly committed to our current and future Pell Grant recipients and supporting them on their paths as scholars and professionals.”
This aid will supplement what Pell Grant recipients receive from the federal government. About 93% of Pell Grant recipients come from families making less than $60,000 per year and nearly half of first generation college students receive Pell Grants.
The average in-state Pell Grant student at William & Mary receives $28,000 in university grant support beyond their federal Pell Grant funding, William & Mary says. The cost of in-state tuition and fees at William & Mary is currently just under $24,000 — which has been held flat for in-state undergrads the last six years.
Through the plan, eligible students may also qualify for additional financial assistance beyond tuition and fees, William & Mary says.
Currently, about 17% of William & Mary’s in-state students are Pell Grant recipients, which the university says is up from 15% compared to six years ago.
“We can’t rest on our progress,” Rowe said. “For the past decade, William & Mary has been working to increase need-based resources — scholarship funding was a top priority of the university’s recently completed For the Bold campaign. We aim to continue this trend moving forward.”
Rowe presented the plan to William & Mary’s board on Friday. Funding for the program is currently available in the existing budget for the first year, the university says, and an additional $1.2 million will be needed in annual funding for each 3% increase per class in Pell Grant eligible students.
For more information, visit William & Mary’s website.