UVA uses both the FAFSA and CSS Profile to determine need. They meet 100% of demonstrated need, based on their formula. I have found that the My inTuition College Estimator has been very accurate. We also found the college board calculator to be pretty close to accurate for UVA. UVA gives info on what to expect in terms of financial aid here:
http://financialaid.virginia.edu/
I think it is a fantastic deal, especially for in-state students. Apparently Forbes thinks so too:).