by our College Data Analytics TeamMany students attending Southern Virginia University can expect to receive financial assistance in various forms, such as scholarships, grants, loans, and work-study programs, making the cost of attendance more manageable.
What financial aid options does SVU offer, and what will you qualify for? Keep scrolling for answers.
$7,424.00 is the typical Southern Virginia University’s first year financial aid package. Approximately 99% of incoming freshmen obtain financial assistance, with the majority being offered as loans.
Loans are included in the umbrella of ‘financial aid’, even so, the only true discount from the cost of college is a grant or scholarship that you don’t have to pay back.
A college loan is not a true college discount, but rather an outcome to consider. Find out how much student loan debt from Southern Virginia University you may end up taking on.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The numbers below apply to scholarships and grants primarily provided by Southern Virginia University.
97% of new students (298 total) were offered scholarships at Southern Virginia University, averaging $5,090.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 41% of freshman students (125 total) obtained federal grant aid, averaging $4,795.00 a piece.
The next table demonstrates grant and scholarship distributions by income level for freshmen getting any form of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 16.61% | $11,602.00 |
| Income 30k-48k | 10.75% | $11,225.00 |
| Income 48k-75k | 11.07% | $9,794.00 |
| Income 75k-110k | 15.96% | $8,056.00 |
| Income 110k + | 14.33% | $4,948.00 |
The table above displays students who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Get more info on Title IV here.
Of the 307 undergraduate students at Southern Virginia University around 99% (304 total) receive some form of grant aid. The typical amount awarded was $7,424.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.