Student Loans for UVA Students
About University Of Virginia
Founded by Thomas Jefferson in 1819, UVA was the first non-sectarian university of its time. The prestigious institute is still being guided by Jefferson’s vision of greatness, which is why UVA is dedicated to educating leaders for the real world.
From its humble beginning of just eight faculty members and 68 students in 1825, the University of Virginia has come a long way, as it has been ranked among the Top 25 Universities in the country for the past 25 years.
About University of Virginia’s Student Loans
As one of the best educational institutes in the country, education at UVA is expensive. However, UVA continues its efforts to ensure that students are not deprived of a quality education merely due to a lack of financial resources. In 2004, UVA came up with a revolutionary financial aid program called AccessUVa. AccessUVa was created specifically for the purpose of keeping the university’s high value education affordable not just for the elite, but for all those who deserve and aspire a quality learning experience. Through AccessUVa, low-income students receive loan-free packages. All other loans are offered to students on a need-based basis; the office is committed to meeting 100 % of each student’s financial need.
About University of Virginia’s Aid Packages
There are many other options of loans and grants available for students as well as work-study opportunities, whereby students get the chance to earn their way through college. However, to obtain any of these, timely completion and submission of the FAFSA form is crucial. Take note: both students and parents are advised to access FAFSA forms within the given time period at fafsa.ed.gov in order to ensure timely release of financial aid.
Private Student Loans and The University of Virginia
If after exhausting all of the above options there is still a need for more funds, then private student loans are a convenient option. However, these loans should be treated with caution since they involve higher pay-back interest rates. Use our free Student Loan Comparison tool provided to carefully weigh the pros and cons of different private student loans so that you can make an informed decision.
The cost of attendance estimate plays an important role when applying for UVA financial aid. In order to have a comprehensive estimate, you should include tuition costs, room & board expenses, books & supplies, transportation costs and personal expenses. The current rates for all of these costs are available on the UVA financial aid webpage.
How will my need be determined by the University of Virginia financial aid office?
The University of Virginia calculates the financial need of a student by subtracting the expected family contribution and outside scholarships from the cost of attendance of two semesters. The cost of attendance is the total of tuition costs and all other provisions while the expected family contribution is determined by using both federal and university guidelines.
Can you tell me about the Federal Perkins Loan offered by the University of Virginia?
University of Virginia financial aid administers federal Perkins loans. These loan have relatively low interest rates that does not change over time. More, they are need-based loans and undergraduate candidates who are at least half-time students may apply for them.
Pay for University of Virginia*
|Total Avg. Cost||$45,481|
|Room & Board||$8,590|
|Financial Aid Information|
|Students Receiving Fin Aid||59%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$6,364|
|%Receiving Other Loans||2%|
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*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics