Monday, November 19, 2018

Opening Doors of Opportunity for UVA students

UVA is making a promise that Virginia families who earn less than $80,000 a year and have typical assets will be able to send their child to UVA tuition-free.  For Virginia families earning less than $30,000 a year with typical assets, we will cover their child's room and board in addition to their tuition.

This is the first step in a larger and longer project by President Ryan and the Board of Visitors to look at current financial aid packages for both Virginia and out-of-state students.

In his inauguration speech, President Ryan said, “I see a community that opens wide the door to opportunity for first-generation, low- and middle-income students."

“There is more work to be done in this space, there will be more work done in this space, but we might as well get started.”

Steve Kimata, Assistant Vice President for Student Financial Services, says that current UVA financial aid essentially meets the commitment laid out by Ryan, but that it's important to make an explicit promise to our low-and-middle-income families.

"Opening doors of opportunity is one of our highest callings as a public university," said Kimata.

Current programs will stay in place.  The promise will be focused on members of the fall 2019 incoming class, but applies to all current undergraduate students as well for aid that will be awarded for the fall of 2019 going forward.  Current undergraduate students will apply for financial aid as normal and be evaluated for eligibility for this promise even if the student has not received financial aid in the past.

The University currently meets 100 percent of demonstrated financial need of all undergraduate students and offers admission to students with no consideration of their family financial situation.

Consistent with AccessUVA, the total grants awarded to students will be funded from a variety of sources:  federal, state, endowment, and tuition.  We will meet these new commitments with all grants.  Loans (capped at $1,000 for low-income students and $4,500 for others with demonstrated need) and work-study will continue to be offered to meet other costs of attendance.

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