Access UVA clarification

[costudent7]

<p>If after entering tax information into the net price calculator, and the price quoted was full price ($51,000), does the Access UVA program and the following information not apply?</p>

<p>Caps the amount of need-based loans offered to any student at approximately 25 percent of U.Va.’s in-state cost of attendance over four years, and will meet all need above that amount with grants. All students, regardless of state residency, will receive the in-state cap level.</p>

[NYCVA1]

<p>

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 demonstrated need for every student.

</p>

<p>Is your family low income?</p>

<p>

HOW AccessUVa WORKS
The financial aid plan assists students and families through four key components: </p>

<ol>
<li> Meets 100 percent of demonstrated need for all admitted undergraduate students.</li>
<li> Replaces need-based loans with grants in the financial aid packages of low-income students — those students who are Pell eligible and whose family income is equivalent to 200 percent of the federal poverty line or less and whose family assets do not exceed $75,000.</li>
<li> Caps the amount of need-based loans offered to any student at approximately 25 percent of U.Va.’s in-state cost of attendance over four years, and will meet all need above that amount with grants. All students, regardless of state residency, will receive the in-state cap level.

<ol>
<li> Student Financial Services offers additional one-on-one counseling to admitted students and their families, assisting them in the financial aid application process and presenting them with financing options, such as the U.Va. payment plan, outside of need-based financial aid.

</li>
</ol></li>
</ol>

<p>You have to meet the above criteria. They will let you know once you file your FAFSA and CSS forms. If you are eligible, then your financial aid package will reflect it. I am assuming if you entered your numbers in the net calculator and it gives you the $51,000 then you are not eligible for the program.</p>

[costudent7]

<p>No my family is not low income but I was wondering about the student loan caps for “all other students”. </p>

<p>I would assume that we are not eligible but a couple of sources have seemed to imply that the program applies to some higher income students also.</p>

[charlieschm]

<p>I’d email the UVa financial aid office and ask if the loan cap would apply in your circumstances. I imagine it only applies to students who are eligible for AccessUVa grants and subsidized stafford loans. </p>

<p>Private loans do not count towards the cap.</p>

<p>The loan cap typically kicks in during the last semester, if a student has been taking out the maximum amount of federal loans. As a result, many UVa students get more UVa aid during their last semester than earlier semesters. The loan cap is not widely publicized, and at times it may appear that a student would receive a little less aid at UVa than at another college, based upon the aid offer for the first year. Once you consider the extra aid that many students get in their last semester, it evens out.</p>

[NYCVA1]

<p>Call the financial aid office and ask. It seems to me the cap only refers to the students eligible for the AccessUVa program. Come back and let us know what the financial aid office says.</p>