Some of the popular forms of student financial aids available in Virginia are:
o Need-based Scholarships – The most popular Virginia scholarships include Bayly-Tiffany Scholarship, V. Thomas Forehand, Jr. Scholarship, Kaprielian Memorial Scholarship, John Allen Love Scholarship, Skinner Scholarship, Charles Fred Wonson Scholarship and so on.
o State Grants and Scholarships – College Scholarship Assistance Program, Virginia Commonwealth Awards, Virginia Guaranteed Assistance Program, Virginia Higher Education Teacher Assistance Program, Virginia Teaching Scholarship Loan Program and many other financial aid programs are offered by the state.
o The University Grants offered by the University of Virginia are other significant sources of student.
o Private loans at different interest rates are also available for the students in the state.
Calculation of Financial Need
For every student applying for the financial aid, the need for financial aid determines the eligibility of the student. It can be calculated by subtracting the expected family contribution and scholarship from outside resources from the total cost of attendance in a particular degree program. In this way, the need for is calculated and used to determine whether a student should be awarded the financial aid or not.
A number of factors can affect the possibility of financial aid for a student in the state:
Degree program joined by the student in one of the state’s institutes.
Credit hours for the graduate and undergraduate students.
Availability of legal documents, if the student is not a US citizen.
Registration with a selective service.
Default on a previous loan
Academic records and so on.
You can learn about various student financial aids in Virginia with the help of an expert student counselor.