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Financial Aid FAQ

The role of the Student Finance office is to help students and families find the best way to cover the cost of tuition and educational expenses and to understand the financial aid process. You'll find answers to some common questions below.

How can I pay for college?

Many people think they can’t afford school, but there may be options to help you pay for college. If you qualify for financial aid, it can bridge the gap between what you and your family can afford and the cost of tuition.

How will I know whether I am eligible for financial aid? What type of aid can I receive?

The first step is completing a Free Application for Federal Student Aid (FAFSA), which will answer questions about eligibility for federal financial aid. After completing the application, you will receive a Student Aid Report (SAR). This report contains your Expected Family Contribution (EFC), which is used to calculate eligibility for federal financial aid. You might receive work-study, loans, need-based scholarships or grants.

I may not be eligible. Should I still apply?

There is only one way to find out if you qualify for aid. Apply! Complete the FAFSA to see what kind of aid you may be eligible to receive. Not applying for aid may mean missing out on what’s available to you. You should apply before you are admitted to school.

I’m worried about debt. Why should I consider taking out a loan?

Most students receive a package of aid that may consist of grants, loans, work, and possibly scholarships. While you will want to keep your loan balance low, you may need a loan to cover all the costs of attending college. The good news is, student loans from the federal government have low interest rates, often less than what banks offer, and options for low or graduated repayment amounts.

For more about financial aid, download our Ultimate Guide to Paying for College!

Quick Web Links

The links below can be a resource for more information regarding financial aid for students. Virginia College is not responsible for their content, nor does Virginia College endorse the accuracy, completeness or reliability of the information provided in these links. By visiting websites of lenders and other third parties, you are visiting websites that are subject to terms, conditions and privacy policies outside of Virginia College’s control.