by our College Data Analytics TeamThe total cost of attendance at Virginia Tech can seem overwhelming, but remember that the majority of students receive some sort of financial assistance. This could be in the form of scholarships, grants, work-study, or loans.
However, some types of financial aid are definitely more desireable than others, and some students will receive more aid than others.Find out more by scrolling down the page.
Virginia Tech average financial aid offer for freshmen students is $7,036.00. Approximately 66% 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.
Student debt really should be considered to be an added expense and not as “aid” or a “discount”. Find more about student loan debt at Virginia Tech.
Financial awards given by a college or university to its students, known as institutional scholarships and grants, help to offset the cost of tuition and other education-related expenses. These awards fall into two categories: merit-based and need-based, and they do not need to be paid back. Merit-based institutional scholarships are granted to students who have shown outstanding academic accomplishments, special talents, or abilities in a particular field. Factors such as high school performance, standardized test results, or involvement in extracurricular activities often contribute to these scholarship decisions. Conversely, need-based institutional grants cater to students who demonstrate financial need. The awarded amount is typically based on the student’s family’s financial standing and is intended to cover the difference between the cost of attendance and the family’s ability to contribute. Colleges and universities might use data from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms to determine a student’s eligibility for need-based grants. Institutional scholarships and grants are a vital source of financial support for students, as they can significantly reduce the cost of attending college and help make higher education more accessible.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
50% of first-year students (3840 total) were offered scholarships at Virginia Tech, averaging $4,184.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 41% of freshmen (3103 total) obtained a federal grant, for about $3,151.00 a piece.
The table below demonstrates scholarship and grant allocations by income level for freshmen receiving any type of federal Title IV assistance, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 4.54% | $15,349.00 |
| Income 30k-48k | 3.43% | $13,280.00 |
| Income 48k-75k | 4.28% | $8,911.00 |
| Income 75k-110k | 4.88% | $3,284.00 |
| Income 110k + | 6.39% | $915.00 |
The table above displays undergrads who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
Of the 7641 undergraduate students at Virginia Tech around 66% (4526 total) receive some form of grant aid. The typical amount awarded was $7,036.00.
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.