"Virginia’s private colleges and universities have released a report they say is a “myth-buster.”

It delivers impressive numbers on the institutions’ economic impact, but also some surprising statistics on affordability and access. And they hope it will bolster their case for larger tuition assistance grants from the state.

There are 27 non-profit private colleges and universities across Virginia, more than half of them in the western part of the state. Together they employ nearly 30,000 people and had an economic output of more than $4.5 billion during the last academic year.

The Council of Independent Colleges in Virginia commissioned the study by Mangum Economics to quantify what they already knew: the institutions have a major impact in the lives of their students, their communities and the Commonwealth.

This week, college presidents joined lawmakers and students to advocate for an increase in the Virginia TAG grant that currently provides $5,000 for Virginia students attending accredited private colleges in the state," reports WDBJ 7.

Photo: New study weighs economic impact of private colleges in Virginia(wdbj7). 12 On Your Side.