Optional Monthly Payment Plan
We are aware that families are finding it more difficult to pay for educational expenses in one large payment each semester. Therefore, as a service to your family, the University of Virginia offers a Monthly Payment Plan in conjunction with Nelnet Business Solutions (QuikPay@UVA). This payment plan allows parents and/or students to make 5 monthly payments per semester for tuition and fees, housing, and dining plans. Participation in the Monthly Payment Plan is optional and available to all students. Please note that this plan is not available as an option to pay Summer term tuition. The plan is only available for use for the Fall and Spring terms.
For a fee of $35 per semester, the University offers an interest-free installment payment plan through QuikPay@UVA. For more information about our payment plan, please click here.
Private Loan Programs
Many private lending institutions offer credit-based loan programs to parents of dependent students, or to dependent students with a
creditworthy cosigner. Families should carefully consider the interest rates, loan fees, and terms of the program before making a
University Lee Emergency Loans
Under the terms of the Lee Emergency Loan, undergraduate students enrolled in any of the University schools may receive up to two Lee Loans of
$500 each for the academic year. Graduate student limits are $750 per Lee Loan. These are interest-free loans. Lee Loans are generally not available during the Summer Session.
Students must apply in person at Student Financial Services.
Brewer Endowment Deferment Plan
For those students who do not wish to enroll in the monthly payment plan, but who want to defer a portion of their term charges until later in the term, there is the Brewer Deferment Plan. There is no charge for this plan, nor is any interest charged to the student who participates in this plan.
To qualify, a student must be able to meet at least 2/3 of the total term charges (tuition, fees, room, and board) by the payment due date. At that time, the student must come in person to our offices in Carruthers Hall with their student ID card. The student must sign a promissory note for the remaining balance (up to 1/3 of the total term charges), with a due date sometime later in the term. For the Spring 2013 term, the due date will be March 31, 2013.
The 2/3 requirement may be met by any combination of financial aid, scholarships, or cash payments. If a student for the Spring 2013 term has total term charges of $10,272, the student would need to have credits of $6,848 on their account to qualify for the Brewer Deferment ($10,272 ÷ 3 = $3,424; $3,424 X 2 = $6,848). The same student has accepted a Direct Subsidized Loan of $3,500 for the year, and so has anticipated funds of $1,750 for the Spring 2013 term. The student also has accepted their Direct Unsubsidized Loan amount of $2,000 ($1,000 for the Spring 2013 term). This means the student has anticipated credits of $2,732.00 (after loan fees) toward the term charges for Spring 2013. This student would need to pay $4,116 more in order to qualify for the Brewer Deferment Plan.
Other Financial Information
For more information about student accounts at the University of Virginia, please visit our Student Accounts website, and be sure also to read our Money Matters publication for students and parents.