Financial Aid Information
Title IV Institutional Code = 003745
College Name = University of Virginia
Financial aid in the form of scholarships, federal loans, and
federally supported work-study employment is available to students who demonstrate
"need" according to the guidelines of the FAFSA form. Limited merit-based
aid is also available. In addition to the scholarship, federal loan and employment
programs, federal and non-federal loan assistance is available without regard
to a familys ability to contribute toward meeting educational costs. Although
there are deadlines which, in the students self-interest, ought to be
observed, the financial aid office recognizes that emergencies may arise and
available financial resources may change unexpectedly. When unforeseen circumstances
occur, or when questions arise about the nature of and/or responsibilities for
the various forms of financial aid, inquiries should be addressed to, or an
appointment made with, the director of financial aid. All citizens and permanent
residents of the United States are eligible to apply for financial assistance.
All financial aid data provided is kept confidential.
First-Year Students: How To Apply Applicants for federal
and institutional financial aid must file the FAFSA form. This form may be obtained
from the financial aid office at the institution the student is currently attending,
from any school in the applicants area, from the Law School Financial
Aid Office, or online at www.fafsa.ed.gov. Due to changing federal regulations,
it is best to verify with the Law School financial aid office the required forms
needed before beginning the financial aid process. The applications should
be filed no later than February 15, if at all possible, in order to ensure its
receipt at the school by March 1. The FAFSA contains sections to be completed
by the applicant and spouse, if applicable. An in-house financial aid application
is required and may be found in the Admissions application.
Second- and Third-Year Students Financial aid is not
automatically renewed. Each second- and third-year law student who is currently
on financial aid must re-apply yearly to continue receiving financial aid. Since
a persons financial circumstances can change significantly from one year
to the next, new applications are necessary each year to reflect all such changes
accurately. To renew financial assistance, each student must submit the FAFSA
and an in-house application that serves the particular needs and programs available
at this Law School. Applications are available from the financial aid office.
Rising second- and third-year students should complete and
submit the FAFSA form no later than April 15 of the year preceding the period
for which aid is requested. The required in-house form should be submitted
prior to the end of the spring semester. Since the amount of scholarship and
financial aid is limited, these funds will be distributed on a first-come,
first-served basis. Scholarships are not automatically renewed. Tardy reapplications
diminish the extent of aid provided, or may exclude the late applicant altogether
from either or both of these programs. The FAFSA is available online at www.fafsa.ed.gov.
Students budgets are determined by the University Financial
Aid Committee and are standardized for all graduate and professional schools
at the University. Modifications are made to reflect the actual costs incurred
by law students in general. Modifications are also made to reflect the particular
circumstances of each applicant. Exceptions are kept at a minimum, however,
due to the limited amount of scholarships and federal funds that are allocated
to the Law School, and for the standardized distribution of financial assistance
to all aid recipients. All expenses covered must be educationally related. Individual
counseling may be appropriate, and the director of financial aid is available
for such purposes.
Budgets for the 2004-2005 academic year are estimated as follows:
Tuition & Fees
Room, Board, Misc.
Loan Origination Fees
Allowances may be made to accommodate child care and other
non-discretionary expenses, such as a computer, computer-related expenses, and
medical expenses not covered by insurance. A written petition, with supporting
documentation, is required. The Financial Aid Office may use its discretion
in the amount of allowance permitted for each expense. Any adjustment made will
be covered with additional loan funds. Computer and computer-related expenses
have a $2,500 maximum allotment.
Standard Forms of Financial Aid
Scholarships The Financial Aid Office distributes a
variety of scholarships that have been donated from individuals and groups.
The director of financial aid distributes gift assistance in such a way as to
maintain a reasonable ratio of gift to loan or work-study assistance. Financial
need is the primary principle by which scholarships/grants are awarded and,
to the extent it is possible, effort is made to distribute gift aid to all recipients
proportionately. Limited merit-based aid is also available. In addition, effort
is made to keep the financial aid package constant from year to year. This principle
may be mitigated by the number of students seeking aid, the timeliness of the
application, the demonstrated need level, and funding allocations that occur
Emergency Loans Emergency loans can be obtained to cover
unforeseen, educationally-related expenses that may arise during the academic
year. Emergency loans are obtained by written petition to the director of financial
aid, stating the amount needed (not to exceed $400), the nature of the expense,
and the source from which the repayment will come. Emergency funds are "revolving;"
that is, they are available only to the extent they are repaid. These loans
are interest free and are limited to one per academic year.
Federal Stafford Subsidized Loan A need-based loan program
that allows eligible students, as deemed by the financial aid office, to borrow
up to $8,500 per year to help offset the total cost of education. Borrowers
loans will hold a variable rate capped at 8.25 percent interest. The interest
rate for repeat borrowers with outstanding balances may vary depending upon
prior loan terms and current Stafford regulations. The cumulative outstanding
debt allowable from both undergraduate and graduate study is $65,500.
Federal Unsubsidized Stafford Loans This loan program
allows graduate and professional students to borrow up to $18,500 a year. Unlike
the Stafford Subsidized Loan program, interest begins accruing immediately.
Payment of the interest must either be capitalized or made while enrolled. This
loan program may be used to help offset a students expected family contribution.
The interest rate is variable but will not exceed 8.25 percent.
Private-Sector Educational Loans Private loans are available
to students who have unmet need, based on the determined cost of education less
any other scholarship and/or financial assistance received. These loans are
based on credit history and ability to repay as determined by the lender. Interest
rates are based on market indicators and vary from lender to lender. Most lenders
allow interest to be deferred until graduation or when enrollment ceases or
drops below half-time. An eligible co-borrower/co-signor may be required. The
Law Schools Financial Aid Office is not involved in the credit evaluation
process. Private educational loan borrowing should be done conservatively and
as a last resort. Our office is not in a position to provide substitute funding
should a private-sector loan be denied.
Bar Examination Loans These loans are available through
participating lenders during the final year of study and are based upon the
students credit worthiness, as well as overall program restrictions. Repayment
begins nine months after graduation.
Students may apply for part-time work through either the Law
School or the Universitys Office of Student Financial Services. However,
first-year students are discouraged from part-time work because of the extensive
requirements of the first-year curriculum. In no event may any student engage
in more than 20 hours of employment per week.
Students are employed in the Law School as research assistants
to law professors and assistants in the Law Library. Only second- and third-year
students are eligible for work-study employment within the University and Law
Over the years, students in the School of Law have consistently
been able to obtain outstanding permanent and summer jobs. Most of these jobs
are the result of contacts made during interviews with employers conducted at
the Law School; the remainder are obtained by students on their own, often with
the assistance of the Law Schools Career Services Office or Public Service
Center. They are among the very busiest offices in the country in terms of the
number of employers contacting them annually with job opportunities. In the
fall of 2003, for example, nearly 900 public- and private-sector law offices
from 41 states and the District of Columbia conducted more than 7,400 interviews
at the Law School from mid-September to late October. An additional 450 employers
solicited résumés from Virginia students without visiting the
This volume of recruiting activity is a measure of the esteem
in which Virginia students are held by legal employers. It has, moreover, resulted
in a geographical pattern of job placement that is as diverse as that of any
law school in the country. Within a few months of graduation in 2003, 329 out
of 342 graduates had informed the Career Services Office that they had obtained
jobs: 246 with law firms, 45 as judicial clerks; 16 with federal, city or state
government agencies or public interest groups; 2 with corporations; 5 in graduate
study and 6 with the military.
The Career Services Office and the Public Service Center offer
a wide range of services to students seeking permanent and summer employment.
They maintain contact with students and employers through the CASE system, which
links the offices with students and employers via the Internet. In addition
to attending to the logistical demands of the fall interviewing season, both
the Career Services Office and the Public Service Center provide individual
counseling on subjects ranging from interviewing techniques to strategies for
obtaining specific types of jobs to letter and résumé writing.
The offices also help students looking for jobs outside the formal interviewing
process by corresponding with, and forwarding student résumés
to, non-visiting employers posted on the CASE system and by assisting students
in locating still other employers, often making use of the Internet and the
comprehensive employer listings in the Career Services and Public Service Center
The Career Services Office and the Public Service Center have
developed and maintain an extensive Law School Alumni Network, made up of nearly
2,000 of its graduates who have volunteered to provide advice and assistance
to students and graduates in the job market. The network is accessible to students
and graduates via the CASE system.
Other projects conducted by the Career Services Office and
the Public Service Center include panel discussions on various kinds of legal
opportunities, especially those not generally represented among visiting employers;
online job listings for alumni in the job market; regional job fairs; an annual
public interest job fair; symposia on job search techniques and strategies;
a mock interview program for first-year students; and projects designed to promote
careers in public service, such as Student Funded Fellowships, which provide
stipends to students in summer public-service jobs, and the University of Virginia
Public Service Loan Assistance Program, which provides loan assistance to graduates
in public service positions.
The most popular locales for graduates of the classes of 2001
2003 include Washington, DC (226 graduates), New York City (153), Atlanta
(52), Richmond (40), Boston and Los Angeles (36 each), Chicago (29), San Francisco
Bay Area (28), Houston and McLean (19 each), Philadelphia (18), Baltimore (15),
San Diego and Dallas (14 each), and Charlottesville and Norfolk (12 each).
The members of the Class of 2003 accepted positions in 31 states
and the District of Columbia. Starting salaries varied considerably with location
and type of work. For example, large New York firms offered 2003 graduates $125,000
per year, while similar jobs in large urban areas were generally more than $100,000,
and in smaller urban areas they were typically around $65,000. Jobs with the
federal government were, in most cases, at the $40,000 salary level. Although
precise figures are not available, the average starting salary for graduates
in the private sector was estimated by the Career Services Office to be more