CHARLOTTESVILLE, Va. (CBS19 NEWS) -- The University of Virginia is freezing tuition for the 2022-2023 school year for in-state undergraduate students. 

On Sept. 16, the UVA Board of Visitors announced that it approved what Governor Glenn Youngkin wanted, to not increase UVA tuition.

Officials at the university are excited that the additional funds they received can help students continue to afford the school.

“And so for a student with that credit, it means if you’re an in-state student who’s taking undergraduate studies, your tuition will be effectively flat, which is obviously a concern for some students at a time when inflation is a little bit higher and the economy is a little bit more difficult," said UVA spokesperson Brian Coy. "We’ve found that it would be possible for us to leverage a couple of different resources including some unanticipated state funding and some cost savings so that we can offset this with the university budget so we can offer this tuition credit to our students.”

The one-time rebate amounts to a $690 credit for students for this school year. This means that the previous 4.7 percent increase in tuition will not happen and students can expect to pay the same as last year.