CTAS cost forecasts for William & Mary’s 22/23 academic year and full 4-year program
CTAS is sharing its projections for 2022/23 academic year costs with information on individual colleges as a recurring feature. Similar information for over 3,000 2- and 4-year schools is available at the CTAS site.
This post projects average net costs for the College of William and Mary in Williamsburg, Virginia.
The second oldest college in the US, William & Mary is a fairly selective public school with an acceptance rate in the high 30% range (2019: 38%) and above average yield (2019: 28%). It is an “importer”, drawing about a third of its undergrad body from out of state, similar to UVa in Charlottesville. As an importer, William & Mary is subject to the ratchet of increased competition for out-of-state students and is in fact reporting larger and larger financial aid budgets, following the general trend pre-COVID, to sustain flat enrollment while maintaining admissions standards.
William & Mary completed a very successful 2021 recruiting cycle, welcoming a class about 10% larger than 2019 after receiving a record-breaking number of applications. The college is currently test optional with 39% of this entering class not submitting scores. After arriving on campus, high retention points to strong student satisfaction (95% in 2019).
The school’s pricing for in- and out-of-state residents with $150k in family income is unusually close. We’ve checked that from several different vantage points and believe it to be correct.
These projections represent informational projections that will change over time and are not a commitment either by CTAS or the applicable colleges. Figures are rounded to the $500 avoid false specificity. Final net cost numbers will differ from these estimates for many reasons: changes to economic trends, decisions by the colleges both about their own policy and enrollment, as well as decisions about individual students. Estimates of full program costs assume graduation in 4-years (for Bachelor’s) or 2-years (Associate) without any gaps, delays or added semesters/quarters. We take pride in our numbers so, if you believe any should be corrected, please reach out to us at email@example.com and we will work with you to resolve the issue.
Average Net Cost is a consumer-centric metric which shows costs as they are presented in commercial transactions outside of higher education. It represents a full-time student’s cost of attending college including: tuition, room & board, fees and estimates of supplies less institutional aid of all kinds (including need-based and merit), and less federal and state/local aid. Loans and other repayable amounts, along with work study earnings, are excluded and do not reduce the cost. Room and board charges are on-campus costs for residential colleges; for students attending non-residential institutions, the college’s own estimate of such off-campus costs is mostly used. CTAS’ Net Cost differs from the Net Price figure self-reported by colleges because it is comprehensive and covers all entering students, including the approximately 40% not included in Net Price calculations.
Read this post and others at our CTAS Higher Ed Business blog on Substack.