Financial and Merit Aid

Colleges and Universities A-Z University of Virginia
1

<p>Can someone fill me in on the financial and merit aid packages offered to accepted students? I read somewhere (or perhaps it was on the tour) that they don't offer aid to out of state students. Is that true?</p>

2

<p>Never mind. Got my answer. :)</p>

3

<p>What is the answer?</p>

4

<p>UVa does not offer merit aid to incoming 1st year students. Financial aid is available to all who qualify, in state or out of state. In general, you will be expected to pay roughly your FAFSA EFC amount. The rest is then covered between a mix of grants (AccessUVA), loans and work study.</p>

5

<p>There is often confusion that UVa offers the Jefferson Scholarships (tuition, rm, board) awarded to roughly 40 students each year. These are not awarded by UVa, or UVa funds, but through The Jefferson Foundation. Students are nominated by their high schools, then interviewed regionally. A group moves on to a selection weekend at UVa. These scholarships are most highly competitive. More information about the scholarships, and the Jefferson Foundation can be found here:</p>

<p><a href=“http://www.jeffersonscholars.org/undergraduate_program/the-jefferson-scholarship/[/url]”>http://www.jeffersonscholars.org/undergraduate_program/the-jefferson-scholarship/&lt;/a&gt;&lt;/p&gt;

6

<p>There are some other merit scholarships, but many of them are limited to 2nd, 3rd and 4th year students. Someone also said there are a very few merit scholarships for incoming engineering students.</p>

<p>The vast majority of aid is need-based. UVa meets 100% of the proven economic need of all US students. As noted above, that aid is the remainder after EFC, taking out federal loans, work study, working during the summer, etc. UVa does use its own formula for aid, which considers more factors than FAFSA, so the result may be slightly different than EFC. There also is a loan cap - after a student has taken out that amount of federal loans, they are typically eligible for additional aid. There is a lower loan cap for in-state than out of state students. Therefore, for many UVa out of state students who receive aid, they receive extra aid during their last semester.</p>

7

<p>As charlie noted, there is a loan cap. Per the office of financial aid:</p>

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<p>For reference: [AccessUVa</a> - Makes it Happen](<a href=“http://www.virginia.edu/financialaid/access.php]AccessUVa”>http://www.virginia.edu/financialaid/access.php)</p>