<p>I know that UVA puts a cap on the amount of need-based loans one takes out, but I'm having trouble figuring out how much this cap is. I read this on the AccessUVA website:</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>
<p>So if the COA is about $23,000... does this mean that I won't have to take out more than that amount in loans across all of my four years in college? I've tried looking through old threads on here, but I'm still not quite sure of the answer. My FA package for my first year gives me $3,500 in Perkins loans, $3,500 in sub Stafford loans, and $2,000 in unsub Stafford loans. Since that's already $9,000 in loans this year alone, does that mean that my loans will decrease in upcoming years because of the loan cap? Sorry if this is a stupid question! UVA is my dream school, and I am trying to figure out if I can afford to attend.</p>
<p>You really need to get in touch with Student Financial Services for the answers to aid questions. I’m not an aid officer, so I’m not the best person to be answering these. :)</p>
<p>From what I understand, the cap is 1/4 of your total cost to attend. It’s not 1/4 of each year. </p>
<p>Again, the people who can answer aid questions with authority are in SFS. The Office of Admission is a separate office.</p>
<p>If I have not received any information regarding financial aid on my SIS account, will I receive it later on? According to my “To Do” list, I’ve completed everything regarding financial aid…</p>
<p>I know they are releasing them in stages and the first batch went out Tuesday 3/30 and I think another batch was supposed to be coming out today or next Tuesday.</p>
<p>Your BEST option though is to call them directly to make sure they have everything they need, especially if you submitted all your info early on. We can’t know the answer for your specific case.</p>
<p>Well, I called last Friday (March 25) and they have received everything from me and yet I have not received any notices regarding financial aid.</p>
<p>I haven’t received anything either, and I have definitely turned everything in. The Financial Aid section of the SIS just says “There are no financial aid awards available for viewing”.</p>
<p>I hope that doesn’t mean that I won’t be getting any aid…</p>
<p>Once again, I have to strongly encourage anyone with questions about aid to direct them to the folks in Student Financial Services. None of us are financial aid officers. We don’t have access to your financial data.</p>