Averett University reported a 2% tuition increase for the 2022-23 school year, as detailed in the latest disclosure, according to the latest disclosure from the National Center for Education Statistics.
Students enrolled at the four-year private, not-for-profit university paid $37,790 this year, an increase of $740 from the $37,050 charged during the 2021-22 academic year.
Approximately 46% of the undergraduate student body are residents of Virginia, while about 45% come from other states. International students make up roughly 8% of the population.
Data indicates that all full-time undergraduates who began studies at Averett University in 2022-23 received some form of financial aid. In total, 248 students were awarded grants or scholarships amounting to $6.8 million, and 202 students obtained student loans exceeding $1.4 million.
Across the entire undergraduate population, 966 students received grants or scholarships totaling $23.7 million. Additionally, 770 students borrowed $5.4 million in federal student loans.
Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.
According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.
Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.
Available data sometimes exceeds 100% due to rounding and administrative calculations.
The following data includes only full-time students who began an undergraduate program at the Averett University in the 2022-23 school year.
| Type of Aid | Number of students awarded aid | Percent awarded aid | Total amount of aid awarded | Average amount of aid per student |
|---|---|---|---|---|
| Federal grants | 125 | 50% | $594,717 | $4,758 |
| State / local grant or scholarship | 124 | 50% | $633,069 | $5,105 |
| Institutional grants or scholarships | 247 | 99% | $5.5 million | $22,413 |
| Grant or scholarship aid total | 248 | 100% | $6.8 million | $27,274 |
| Federal student loans | 179 | 72% | $1 million | $5,735 |
| Other student loans | 23 | 9% | $377,264 | $16,403 |
| Student loan aid | 202 | 81% | $1.4 million | $6,950 |
| Total student aid | 248 | 100% | $8.2 million | $32,934 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
