Financial AidNeed-Based Financial AidTo be considered for need-based assistance, a student must submit the Free Federal Form (FAFSA) by March 1. (Forms will be available in high school guidance offices in December.) The Financial Aid Office notifies on-time applicants of a decision in early April. Need-based financial aid normally consists of some combination of gift assistance (scholarship or grant), loan funds, and/or employment (work study). AccessUVaThe University of Virginia community believes that educational equality is not only about equal access to higher education but also access to the best education in all its forms. We believe that students should be able to take advantage of superior academic programs as well as co-curricular opportunities, study abroad programs, leadership roles, and service learning to enrich themselves and the community. Additionally, attending college isn't just about the classroom and activities. It is about finding a place where you can grow, express your individuality, and be a part of a tradition of success. The University wants each admitted student to be a part of the U.Va. experience, regardless of economic circumstance. What is AccessUVa?AccessUVa is the University of Virginia's financial aid program designed to keep a higher education affordable for all admitted students regardless of economic circumstance. Because access for every academically eligible student is a priority at the University of Virginia, the University has made an annual commitment of $20 million in need-based grants to undergraduates. AccessUVa offers loan-free packages for low-income students, caps on need-based loans for all other students, and a commitment to meet 100 percent of need for every student. The program not only keeps a U.Va. education affordable for the lowest income students, but also addresses the concerns of middle-income families who are squeezed by the rising cost of tuition. By limiting debt - or eliminating it altogether, in the case of students with the most need - AccessUVa offers assurances to prospective students that if they make the grade How AccessUVa WorksThe financial aid plan assists students and families through four key components:
ScholarshipsJefferson ScholarsThe Jefferson Scholars Foundation, a competitive merit scholarship program sponsored by the University of Virginia, awards full four-year scholarships to entering students deemed outstanding in leadership, scholarship, and citizenship. Financial need is not considered. Eligible high schools are notified of scholarship details in mid-September. For additional details, contact Executive Director, Jefferson Scholars Foundation, P.O. Box 3446, Charlottesville, Virginia 22903. ROTCROTC scholarships are available through the Army, Air Force, and Navy. ROTC assistance may be applied to the cost of attending the University. Students interested in more information should contact the local Armed Forces recruiter. MinorityJerome H. Holland Scholarships are for African-American students. For information, contact the Office of Admission at (434) 982-3200. The Office of Admission selects recipients of the Jerome H. Holland Scholarships to recognize outstanding African-American students from both Virginia and outside Virginia. Awards, which are renewable, are offered on a competitive basis to entering students and are normally in the amount of $10,000 each. Consideration for the Jerome H. Holland Scholarships is automatic; no specific application is required. The Walter N. Ridley Scholarship Fund is the product of the vision and generosity of U.Va.'s African-American alumni and friends. The fund is named after Dr. Walter N. Ridley, the University's first African-American graduate, started in 1987 and has provided scholarships to more than 50 young men and women. The Ridley Scholarship Committee selects recipients based on several factors: financial need, academic performance, leadership, and community service. Nominations are accepted from the Office of Admission, alumni and faculty. Recipients are notified in May. Minority students who are Virginia residents transferring to the University of Virginia may be eligible for a Virginia Transfer Grant funded by the Commonwealth of Virginia. As requirements and fund availability vary, please contact the Financial Aid Office for additional information. University Achievement AwardsThe Office of Admission selects 50 entering students each year to receive University Achievement Awards, designed to attract exceptional in-state students who will add diversity to the University community. The awards cover full tuition and fees for all four years of attendance at the University and are made on a competitive basis to students who are Virginia residents. Consideration for the Achievement Award is automatic, no specific application is required. Engineering ScholarshipsIn 1987, the School of Engineering established the Wesley Harris-3M Scholarship Awards and Virginia Engineering Foundation Scholarships. The goal of these awards is to attract the most outstanding African-American high school seniors from across the nation to engineering. Like the University Achievement Awards, these scholarships are based on academic merit and leadership. These awards are renewable and range from $500 to $1,000. General Assembly Nursing Scholarship/Loan ProgramVirginia residents enrolled in the School of Nursing may apply for this state-funded, need-based program. Any funds awarded must be repaid by working as a nurse in Virginia, or by repayment with interest. Applications and guidelines are available upon request from the Office of Financial Aid. Virginia War Orphans Education Benefits ProgramUnder this program, a child of either a deceased veteran or a veteran who is totally disabled from wartime service may receive free tuition to attend a Virginia state-supported institution of higher education. Students who believe they qualify for this program should contact the Division of War Veteran Claims at the following address: GrantsConsideration for any grant listed below, with the exception of Athletic Grants-in-Aid, requires completion of the FAFSA. For institutional and state grants, first-time students at the University must also submit the Financial Aid Statement directly to the Financial Aid Office. University GrantsThe University has a number of need-based grants available for undergraduate students. Financial aid applicants are automatically considered for any grants for which they qualify. There are no academic or merit scholarships available through the Financial Aid Office. Need-based University grants include: Award amounts for University grants vary, but all awards are made on a need basis. Virginia College Scholarship Assistance Program (CSAP)The College Scholarship Assistance Program is a need-based program of grants to Virginia residents attending colleges and universities in Virginia. The FAFSA constitutes an application for the CSAP Grant. Funds for this program are made available by the Commonwealth of Virginia. The Financial Aid Office makes the award determination. Students with exceptional need may receive up to $2,000 per year. Other State Grant ProgramsSeveral states have scholarship and grant programs which permit the student to use a state scholarship or grant at an out-of-state institution. For further information on these state programs, contact the state awarding agency or your secondary school guidance counselor. Federal Supplemental Educational Opportunity Grant (FSEOG)This federal program is administered by the University and provides grants to students who have exceptional financial need. Awards are determined by the Financial Aid Office, and may vary between $100 and $4,000 per year. Federal Pell GrantThis federal aid program is for all students who need financial assistance to attend post-secondary educational institutions. The maximum award is $3,300, but actual grants may be less. The award is based on the expected family contribution and actual college costs. Athletic Grant-in-AidStudents desiring information about Athletic Grants-in-Aid should contact the Department of Athletics, P.O. Box 400211, University of Virginia, Charlottesville,Virginia 22904-4211. LoansCompletion of the FAFSA is required to be considered for the Federal Perkins Loan, Federal Nursing Student Loan, and the Ford Federal Direct Subsidized and Unsubsidized Loans. Federal Perkins LoanUnder this federal program administered by the University, a student may borrow up to a maximum of $4,000 for each undergraduate year. The maximum for all undergraduate years is $20,000. Repayment, at an interest rate of five percent, begins six months after a student graduates, withdraws or drops below half-time status. Federal Nursing Student LoanStudents enrolled in the University School of Nursing are eligible to be considered for the Federal Nursing Loan Program. The terms and conditions are similar to those of the Federal Perkins Loan. Ford Federal Direct Subsidized and Unsubsidized LoansThrough the Ford Federal Direct Subsidized and Unsubsidized Loans, students may borrow up to the following amounts: first year, $2,625; second year, $3,500; third, fourth, and fifth years, $5,500 each. Students may borrow no more than $23,000 for all undergraduate years. For students who demonstrate financial need, the federal government will pay the interest while the student remains in college. Students who do not demonstrate financial need may still borrow these funds, but will be required to pay the interest, which will not exceed 8.25 percent. In some cases, only a portion of the loan may be eligible for the federal interest subsidy. Independent students may borrow up to the following additional amounts through the Ford Direct Unsubsidized Loan Program: first and second years, $4000 each; third, fourth, and fifth years, $5000 each. Repayment on the interest begins 60 days after disbursement unless interest capitalization is requested. Ford Federal Direct Parent LoanThis non-need-based loan is available to parents of dependent students. The maximum that parents may borrow in a year is the cost of attendance minus any financial aid awarded to the student. The interest rate is variable but will not exceed nine percent. Repayment begins 60 days after disbursement. The application for the Ford Federal Direct Parent Loan is available from the Financial Aid Office. Non-Subsidized LoansA number of non-need-based loan programs are available to students and parents. Terms and conditions are variable, as are interest rates. For further information, contact the Financial Aid Office. Short Term LoansUnder the terms of the Lee Emergency Loan, a student enrolled in any of the University Schools may borrow up to $500 cash per semester. Loans are interest free and are available during the academic year through early March. Lee Loans are not available during the summer session. Students must apply in person at the Financial Aid Office. EmploymentCompletion of the FAFSA is required to be considered for the Federal Work-Study Program. Federal Work-Study ProgramUnder the Federal Work-Study Program, students with demonstrated need may be assigned in a part-time position to one of the various participating departments or offices within the University community. The hourly rate and number of weekly work-hours assigned are based on a student's financial need and background in a particular area. |