Student Loans for VMI Students
About Virginia Military Institute
The Virginia Military Institute is the oldest state supported military college in the United States. Established in 1839, VMI is one of the six senior military colleges in the country that has developed a stellar reputation in academic, military and athletic excellence. Impressively, the institution receives hundreds of millions of dollars in endowments every year and has about 1,500 students enrolled in its various programs, which include Civil Engineering, Philosophy and Leadership Studies. With an impressive student-teacher ratio, the institute has been rated as one of America’s best by Forbes magazine.
Applying for Students Loans
Notably, the cost of education at the Virginia Military Institute depends on the student’s state of residence. Students who reside in Virginia pay in-state tuition, which is considerably less than students who come from other states, as the difference in costs boils down to about $20,000 per academic year. While the application procedure for VMI financial aid is pretty straightforward, students should start by estimating their total cost of attendance, which can be calculated by totaling education costs: tuition, fees, room & board, books, study materials, transportation and various living expenses. Students must fill out the VMI financial aid application as well as the FAFSA (Free Application for Federal Student Aid), which can be found online at fafsa.ed.gov.
VMI Financial Aid Packages
Fortunately, students may cover the costs of their education via the VMI financial aid program in a number of ways. Namely, the program allows students to access federal aid, including grants and loans. Federal aid options are usually the first choice for students as they provide favorable terms and conditions. Moreover, VMI financial aid packages also include comprehensive selections of institutional scholarship awards, which are mostly need-based.
In addition to scholarships, may also look into alternative loans. Beforehand, though, students should first exhaust their federal aid options. After, students may use our Loan Comparison Tool, which helps to survey lenders in order to find the best deal possible.
Students should estimate the cost of their attendance before applying for VMI financial aid. Costs that must bee included in this estimate are tuition, room/board expenses, auxiliary fees, and Quartermaster charges. In addition, students must submit a security deposit in the case there is any property damage, unpaid bills, or lost items.
What is the application procedure for Virginia Military Institute financial aid?
The application procedure for Virginia Military Institute financial aid requires students to fill out two separate forms. In order to apply, students are required to fill out the VMI financial aid application along with the FAFSA application form. Students must submit the FAFSA application at fafsa.ed.gov before the deadline date.
Pay for Virginia Military Institute*
|Total Avg. Cost||$40,127|
|Room & Board||$7,132|
|Financial Aid Information|
|Students Receiving Fin Aid||86%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$5,776|
|%Receiving Other Loans||1%|
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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