Three Virginia colleges have proposed becoming charter universities.
The College of William and Mary, the University of Virginia, and Virginia Polytechnic Institute and State University have proposed legislation that would allow them to give up some state financial support and open more student spots in exchange for greater freedom from state regulations.
Despite recent increases in state funding, Virginia’s public colleges face major challenges, such as noncompetitive faculty and staff salaries, insufficient student financial aid, and the inability to manage and finance enrollment growth, said William and Mary President Timothy J. Sullivan in a written statement.
The Chartered Universities Initiative would enable the schools that participate to operate in a more businesslike manner and to compete more effectively for additional research dollars and economic-development opportunities, the statement said.
