Types of Aid

There are lots of ways you can get help paying for college, and most students combine several of them.

Once we get your application, we’ll put together a package for you that typically includes three different types of financial assistance: grants and scholarships, loans, and college employment.

Federal Grants (need based)

The Federal Pell Grant Program is the largest federal grant program for undergraduate students. Awards range from $370 to $7,395 per academic year, for either full – or part-time study. The FAFSA Submission Summary will tell you whether or not you are eligible to receive a Federal Pell Grant. It is, however, up to the Office of Financial Aid to determine the amount of your award based on federal guidelines.

The Federal Supplemental Educational Opportunity Grant (FSEOG) is a need-based program funded by the federal government and administered directly by participating colleges and universities. Award amounts vary by institution and student need. Because funding is limited, priority is given to students with the highest financial need who are also eligible for the Federal Pell Grant.

State Scholarships/Grants (need based)

Virginia Student Financial Assistance Program is a need-based scholarship program for qualified Virginia residents. It is designed to assist students demonstrating financial need by providing a portion of their college costs. State statute requires that awards be proportional to need, so that students with the greatest need receive the largest awards. This program is divided into two parts: The Commonwealth Grant (formerly known as the Virginia State Undergraduate Program) is available to Virginia residents with demonstrated financial need. These awards range from $1,000 to annual tuition and a portion of required fees and is renewable.

Virginia Guaranteed Assistance Program (VGAP) is available to those needy students who graduate from a Virginia high school and have an academic grade point average of 2.5 or greater. The student has to advance a class level (30 hours) upon completion of each year. The student must be classified as a dependent student in order to qualify. The VGAP award ranges from $1,500 to annual tuition and a percentage of required fees and is renewable.

Private Scholarships

Many private scholarships are available to students who attend UVA Wise. Students are encouraged to investigate private scholarship sources on their own. To see what is available, check with high school counselors, trust departments of banks in your hometown, reference departments of libraries, with your employer as well as your parents, business leaders, and local civic organizations.

UVA Wise Scholarships

The Office of Student Financial Aid administers a large number of scholarships from funds that have been provided by generous donors interested in our students. Many of these scholarships are targeted for quality students who demonstrate financial need. Entering freshmen will be considered automatically based on academic information provided by the Office of Admissions. Returning UVA Wise students applying for the first time and incoming transfer students will also be considered based on academic information provided by the Admissions and Registrars Offices. Scholarships will be automatically renewed if students meet the required renewal criteria. Scholarship awards range from $1,000 to $6,500.

Loans

If scholarships and grants do not cover the entire cost of your education, educational loans are generally available. The two primary sources of loans are through the federal government of from private lenders. Generally speaking, federal student loans include many benefits that are not typically offered with private loans, such as income-driven repayment plans. View federal loan interest rates. In contrast, private loans are generally more expensive than federal student loans. We generally recommend students pursue private educational loans only after exhausting all of their federal loan options. UVA Wise will work with you and your family to determine which loans are best for you and the appropriate amounts.

Loan Programs

• Federal Direct Subsidized & Unsubsidized Loans – These are the most popular loan programs that UVA Wise students use. To qualify for the subsidized loan, a FAFSA applicant must demonstrate financial need. The subsidized loan is also only available for undergraduate students. The unsubsidized loan only requires an official FAFSA for eligibility, given a student has not exceeded their aggregate limit. Unsubsidized loans are available to both undergraduate and graduate students.
• Federal Parent PLUS Loans – This type of loan is available to eligible parents of undergraduate students to assist with educational expenses. Credit checks are required during the application process and an approval / denial decision is given immediately.
• Federal Grad PLUS Loans – This type of loan is offered to graduate students if they need additional funding beyond what is offered to them in a direct unsubsidized loan.
• Private Student Loans – These are available to students through private banks, credit unions, or lenders. Please note that students be required to pass a credit check and/or secure a cosigner to be considered eligible. Our office is unable to recommend one lender over the next.

Loan Counseling and Master Promissory Notes (MPN)

Loan counseling and master promissory notes (MPN) are required to be completed during the federal loan process. If you are a first-time federal student loan borrower, you will be required to complete loan entrance counseling and an MPN. When you stop attending school, the federal government strongly encourages students to complete exit counseling because it contains valuable information regarding the repayment process. 

College Employment

• Federal Work-Study Program: The primary purpose of the Federal Work-Study Program is to stimulate and promote the part-time employment of students with financial need, providing them funds for college and/or living expenses. Work opportunities are available in almost all departments on campus. Eligible students are employed on the basis of qualifications and the availability of openings. Yearly work-study earnings can range from $500 to $2,500 annually. Due to limited resources provided by the Department of Education, employment opportunities are limited.
• Regular Student Employment: For students who do not qualify for the Federal Work study program, a limited number of on-campus, part-time employment opportunities are available through the College. Students apply directly to the employing department and are paid from departmental funds. Hourly regular student employment earnings range upwards from minimum wage, depending upon the skills required for the job. These work opportunities are not associated with the financial aid office in any way.