3: Financial Aid

Applying for Financial Aid | Loans | Student Employment
Special Scholarships and Programs | General Requirements for All Forms of Aid
University and Federal Grants | Employment under the Federal Work Study Program
Student Rights and Responsibilities Regarding Financial Aid

Applications from Entering Students | Applications from Returning Students | Grant and Scholarship Programs

Applying for Financial Aid

The purpose of student financial aid at the University of Virginia is to provide funds for students who cannot attend the University without financial assistance. Except for Athletic Grants-in-Aid, non-need-based loan programs, and a limited number of special scholarships, students must demonstrate financial need to receive financial assistance.

Estimated Costs   The average costs (excluding travel expenses) for an undergraduate student at the University of Virginia for the academic year l998-99 are estimated to be:

Tuition and Fees$4,870$15,820
Books and Supplies800800
Room and Board4,8404,840
Personal Expenses1,2001,200


Financial Need   The primary responsibility for financing a college education rests with the student and parents. A portion of the parentsí and studentís resources is expected to be available for college expenses.

All financial aid applicants are required to submit the Free Application for Federal Student Aid (FAFSA), completing all appropriate sections. The FAFSA secures family income and asset information. A detailed analysis produces an estimate of the funds that the student and parents can reasonably be expected to provide for college expenses. This estimate is known as the estimated family contribution (EFC). The difference between the estimated family contribution and the cost of attendance (which includes tuition, fees, room, board, books, personal expenses and travel) is defined as the student's financial need. Students who demonstrate financial need are eligible for need-based financial aid.

Only students who are over twenty-four, married, veterans, or wards of the court will be considered for financial aid without regard to their parents' ability to contribute to their education. Except in such circumstances, parental financial information will be required of all aid applicants under 24.

The Financial Aid Award   Financial aid is normally a combination of gift assistance, loan funds, and/or employment. The financial aid "package" is determined by the availability of the various types of financial aid and the individual circumstances of the student. The application for University-based grants, loans and employment is the FAFSA. Students must be United States citizens or permanent residents to receive financial aid. Additionally, students must be full-time (registered for at least 12 credits each semester) in order to receive their financial aid award. About 35 percent of all undergraduate students receive financial assistance each year.

Continue to: Applications for Entering Students
Return to: Chapter 3 Index