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UVa to cover tuition, fees for Virginia families making $100K or less

The University of Virginia is significantly broadening the scope of in-state students eligible for financial aid.

In previous years, the school covered costs for tuition, fees, housing and dining for students from families making $30,000 a year or less. Students from families with incomes of $80,000 or less would have their tuition and fees paid for.

Last Friday, UVa’s governing body voted to expand that coverage.

Using grants and scholarships, the school will now cover all costs for tuition, fees, housing and dining for any Virginia students whose families make $50,000 or less. Tuition and fees will be covered for any Virginia student whose family makes $100,000 or less.

“Our mission is to welcome talented students from all walks of life, and these expanded grants and scholarships will help us do just that,” Vice Provost for Enrollment Stephen Farmer said in a statement announcing the decision. “Once Virginians from middle- and lower-income households earn admission to UVA, these scholarships will make it possible for them to join us. When they do, they’ll make everyone around them better.”

Additionally, Virginia students whose families make $150,000 or less will receive at least $2,000 in need-based grants, the school said. The previous threshold had been $125,000.

The decision to expand financial aid eligibility was made possible through generous philanthropic gifts, according to UVa.

“The Honor the Future campaign has been incredibly successful in raising scholarship funds to ensure UVa is accessible and affordable for the most talented students, and I’m delighted that more Virginia families will benefit,” President Jim Ryan said in a statement. “My thanks go to our generous alumni and supporters who have made this possible.”

Ryan said the expansion will not be paid for with any tuition funds but exclusively through philanthropic donations.

Roughly 35% of UVa undergraduate students demonstrate financial need. In 2004, the school began its AccessUVA financial aid program to allow more students with more backgrounds to attend without being restricted by financial barriers. As a result, two-thirds of UVa undergraduates earn their degrees without incurring any need-based loan debt.

The news is the most recent step in the school’s “Great and Good” strategic plan, which aims to make UVa the nation’s best public university by 2030, in part by enabling more low- and middle-income students to attend and to attract more first-generation and underrepresented talent. More than 16% of this year’s first-year students qualify for Pell Grants, a 5% increase from two years ago.

During the 2022-23 academic year, UVa awarded approximately $179 million in need-based financial aid from all sources to undergraduates through AccessUVA.

Princeton Review ranks UVa as the top public institution in the nation for financial aid.

Source: www.dailyprogress.com

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