Financial Aid at the University of Virginia
Please refer to this glossary as you read about our aid program:
Cost of Attendance (COA): The total amount it should cost you to attend our University: tuition and fees, room and board, allowances for books and supplies, transportation, as well as personal and incidental expenses.
Expected Family Contribution (EFC): The amount of money that your family is expected to be able to contribute to your education. This includes your parent's contribution and your own.
Other Resources: Includes any awards or scholarships from agencies other than Student Financial Services.
Student Information System (SIS): It's your online account for registering for classes, keeping track of finances, grades, academic plans, and more.
FAFSA: Free Application for Federal Student Aid. This form determines your eligibility for federal assistance. We encourage you to submit online: www.fafsa.ed.gov.
* Our school code is 003745.
CSS/Financial Aid PROFILE: A form for entering students that determines eligibility for institutional aid. Find it at https://profileonline.collegeboard.com
UFAA: University Financial Aid Application for returning students only. Found on SIS account.
Priority Filing Date: Though this is not a deadline, it is important to submit your complete aid application by March 1. It enables us to deliver your admission decision and your financial aid package at the same time.
Grants: Money awarded to a student on the basis of financial need - does not have to be paid back.
Scholarships: Money awarded to a student on the basis of merit - does not have to be paid back.
Loans: Money lent to you to help you cover your costs – it will need to be repaid after graduation or when a student leaves the University.
Work-study: A program that provides students with part-time employment during the school year.
Loan Cap: Once a student's need-based loans reach the cap amount, all additional need-based loans are replaced by grants.
Need-Blind Admissions: Your chances for admission are not negatively impacted by whether or not you can pay for your education.
If you fear the cost of education will exceed your family's means, please do not hesitate to apply to the University of Virginia. UVA is committed to making your undergraduate education accessible, affordable, and possible. Every student with demonstrated need will have 100% of that need met.
Understanding Financial Need
To understand financial aid at UVA, you first need to be familiar with the following equation:
Cost of Attendance (COA)
(–) Expected Family Contribution (EFC)
(–) Other Resources
Financial Need is the amount of the Cost of Attendance which cannot be covered by your family’s means or other resources.
How do I apply for financial aid?
The following steps should be completed by UVA's priority filing date of March 1st:
You can estimate your income based on your previous year's tax return if taxes have not been filed yet when you complete the forms.
- Complete the CSS/Financial Aid PROFILE at www.profileonlne.collegeboard.com.
- Our school code is 5820.
- This form is available starting October 31st.
- There is a cost to complete this form, but eligible students can receive fee waivers.
- Fill out your FAFSA at www.fafsa.ed.gov
- Our school code is 003745.
- This form is available starting in January 1st.
- Set up your SIS online account. Directions will arrive by e-mail approximately five days after you submit your application for admission.
- Check your SIS "To Do List" regularly. Submit requested items promptly.
- Once your current year's tax documents are completed, submit copies along with W-2's.
Key components of AccessUVA
- 100% of your demonstrated financial need will be met.
- Students who demonstrate the highest levels of financial need may receive generous aid packages made up of mostly grants.
- Students whose packages include need-based loans are protected from overwhelming debt through our loan-cap arrangement.
- A commitment to financial literacy, including counseling on college financing options and debt management.
Cost of Attendance (COA)
|Tuition and Fees*
|Books and Supplies
||$608 to $1,518
||$46,097 to $47,007
* These costs are estimates for planning purposes. Registered students will be billed based on actual costs determined in the Spring of the incoming year.
A financial aid package is meant to help you cover the costs of your education. Grants, loans, work-study employment and/or scholarships may be included in your aid package. The combination of aid types depends on your demonstrated financial need. We refer to our financial aid philosophy as AccessUVA.
Who receives financial aid at UVA?
US citizens or permanent residents who demonstrate financial need can benefit during 8 semesters (4 years) of their undergraduate studies. Students who are awarded this aid may be first-years, returning students or transfers, traditionally aged or older, minority or non-minority, from in-state or from out-of-state.
The following chart shows family income levels of students who tend to demonstrate high financial need and are therefore likely eligible to receive full grant assistance:
Full Grant Aid Eligibility Chart*
|Number of People
*Eligibility also depends on assets and savings. Figures are 200% of U.S. Dept. of Health & Human Resources' Poverty Guidelines
(Federal Register, Vol. 74, No. 14, January 13, 2009, pp. 4199-4201)
Students must submit a FAFSA each year. If a family's financial circumstances change, the financial aid package will adjust accordingly.
U.Va. is a need-based financial institution. Limited merit scholarships are available. For information, please see the websites for Alumni Hall, Jefferson Scholars Foundation, Center for Undergraduate Excellence, and Student Financial Services.
Can I calculate my own EFC?
The CollegeBoard has developed an online calculator that helps you estimate your family's Expected Family Contribution (EFC) based on your actual information. To make use of this and other useful tools, see www.collegeboard.com/student/pay and click on the 'Calculators' link to the left.
Did you know?
- UVA has a need-blind admissions policy.
- More than half of all undergraduate students receive some type of financial assistance in a typical year.
- The average need-based aid package during the 2009-10 academic year was made up of $12,500 for in-state and $25,900 for out-of-state students.
- In 2009-10, approximately 7,304 undergraduate students received aid from all sources totaling $110 million. Over 50% of this amount, $45.1 million, comes from University funds.
- UVA is a Questbridge partner.
- Students may request a fee waiver if they are applying for aid and the cost of applying to UVA represents a financial hardship for the family.
- An interest-free monthly payment plan is available for a $35 per semester fee.
A great value for the money:
- UVA tops the National 'Best Value' Ranking of Public Universities. Princeton Review, January 2010.
- UVA ranks No.3 on Kiplinger's list of 'Best Value Public Colleges and Universities.' Feb 2010.
- UVA ranks No.1 based on results by the Center for College Affordability & Productivity. Forbes Magazine, Mayo 2008.
Applying for admission and aid can be complex. We are here to help you through the process.