by our College Data Analytics TeamFinancial aid in the form of loans, grants, work-study, and scholarships is one way colleges reduce the cost of attendance so most students can actually afford to attend.
What financial aid options does VCU offer, and what will you qualify for? Keep scrolling for answers.
$11,429.00 is the typical Virginia Commonwealth University’s first year financial aid package. Financial aid is provided to about 83% of first-year students, with the bulk of support coming in the form of grants and scholarships.
Financial aid helps lower the cost, or the full retail price of the institution. But bear in mind that the only true college discount is scholarships & grants.
Worried about the student loans that might be part of a financing offer? View the average amount of debt per student at Virginia Commonwealth University.
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 following numbers apply to scholarships and grants largely offered by the school itself.
66% of first-year students (2900 total) were offered scholarships at Virginia Commonwealth University, averaging $6,361.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 35% of first-year students (1544 total) got federal grant aid, averaging $5,610.00 per person.
The following table shows scholarship and grant allocations by income for first-year students receiving any form of federal Title IV assistance, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 12.88% | $17,476.00 |
| Income 30k-48k | 8.28% | $16,092.00 |
| Income 48k-75k | 10.41% | $13,430.00 |
| Income 75k-110k | 8.07% | $8,953.00 |
| Income 110k + | 9.29% | $4,214.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
83% of the 4372 undergraduates at Virginia Commonwealth University receive some sort of grant aid. This is a total of about 3194 students getting an average of $11,429.00 per person.
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.