Founded by Thomas Jefferson nearly two centuries ago, the University of Virginia boasts top programs, as well as robust schemes to help talented students pay for their education at UVA.
Ranked as the third best public national university by U.S. News & World Report, it’s no surprise that 89% of UVA students are admitted from the top 10 percent of their graduating class. Whether you’re just applying, already admitted, or halfway through your education at UVA, read on for more tips on how to pay for these next few years of learning.
How much does it cost to attend UVA?
Undergraduate living expenses (separate of tuition) at UVA are estimated to be around $15,000 per year. Tuition will vary by program of study, your year in school, and whether or not you’re a resident of Virginia, but residents pay close to $30,000 per year, whereas non-residents are charged about twice that amount.
The tuition difference for resident and nonresident UVA School of Medicine students is about $10,000 per year ($48,114 for residents in 2016-2017, $58,920 for nonresidents). With living expenses and other fees, total expenses for the year are close to $70,000-$75,000 (based on the year in school) for residents and $80,000-$85,000 for nonresidents.
Darden MBA students see less of a difference between resident and nonresident tuition. Tuition for first-year resident students in 2016-2017 is $60,500, whereas non-residents will pay $63,500 and international students $63,620. Taking health insurance, living expenses, transportation, and other fees and charges, Darden students can expect to pay close to $90,000 for their first year of business school.
The tuition gap of $3,000 based on state of residence is the same for UVA’s School of Law as for Darden. In-state tuition for 2016-2017 is $56,300 and out-of-state is $59,300, bringing total yearly costs close to $80,000 for law students.
What kind of financial aid does UVA offer?
Undergraduates at UVA have many scholarships and fellowships available to them. The Jefferson Scholarship Program, which selects 35 students per year, awards a four-year scholarship intended to cover the entire cost of attendance. Even those students not selected as Jefferson Scholars have plenty of options, including 88 scholarships and fellowships offered through the Center for Academic Excellence, General University Scholarships, Study Abroad Scholarships, and Alumni Fund Scholarships – not to mention scholarships offered by individual schools within UVA.
The UVA School of Medicine offers need-based scholarships for up to $20,500 per year for in-state students and $25,000 for out-of-state. In addition to federal and private student loans, UVA also offers school-funded loans based on need, which max out at $10,000 and do not accrue interest during school or in the six months following graduation. Students interested in careers in primary care should look into the General Scholars Program, which provides career development and curricular opportunities in addition to some scholarship funds.
Darden has a long list of scholarships available to both U.S. and international MBA students, including the Darden Merit Scholarship, Darden Jefferson Fellowship, and Batten Scholarships. The Darden Merit Scholarship covers one-third, one-half, or full tuition based on the applicant’s profile. Jefferson Fellowships (also seen above for undergraduates), which are awarded to just two MBA students per year, cover not only tuition but also all living expenses, including computer and research stipends. In addition to academic excellence, Jefferson Fellows exhibit “leadership, citizenship, integrity and honor”. Batten Scholarships cover full tuition, are awarded to up to ten students per year, and fall into three categories; Entrepreneurship, Technology, and Innovation. Browse through the other scholarships you might be eligible for to maximize your chances at securing additional financial aid.
Law school scholarships from UVA are awarded primarily based on merit and can range from $5,000 to full tuition. Some need-based scholarships may be awarded, but only when funds are available, and the school makes it clear that most need-based aid is awarded as student loans. Many external scholarships in smaller amounts are available, so students should see whether they’re eligible to apply for any of these.
What kinds of extras should I expect to pay for at UVA?
First-year students are not allowed a car on campus at UVA, so while this might seem like a burden, it may help lessen your expenses when it comes to transportation. The school recommends biking, the University Transit System, and Charlottesville Area Transit. If you do bring a car your second year, however, be sure to account for expenses like parking permits, insurance, gas, and maintenance.
Both Greek life and sports are big at UVA, so also budget some extra room to pay for fraternity or sorority dues, formal wear, Cavaliers gear, or travel to away games (if that’s your sort of thing). Both of these can be an integral part of your experience at UVA, but make sure you’re planning accordingly to be able to pay for these experiences when they come up.
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