Institutional (School-funded) Aid Policies
The School of Medicine offers several non-need full Tuition Scholarships and Tuition Differential Scholarships which pay the difference between in-state and out-of-state tuition. Recipients of these awards are selected by the Admissions Commitee. Applicants accepting non-need scholarships are required to submit the same application materials as those applying for need-based financial aid. With the exception of the non-need scholarships noted above and the MD/PhD and Generalist Scholars programs, most school-funded scholarships and loans are awarded on the basis of demonstrated financial need, as determined by the Financial Aid Office.
Need-Based Aid Policies
1. Filing Deadlines: Application for need-based school-funded aid must be made annually by published deadlines.
2. Award Limits: The medical school funds only the portion of an applicant's demonstrated need beyond what could be met with the maximum $8,500 subsidized Federal Stafford Loan.
3. U.S. Citizenship: Students who are not United States citizens or permanent resident aliens are not eligible for financial aid from the medical school.
4. Parental Information: All applicants must provide parental income and asset information on the application forms, regardless of age, marital status or independent status for federal loan programs. Exceptions are rare and are not granted without prior written approval from the Financial Aid Office.
5. Parental Contributions: With the following exceptions, the full parent contribution produced by the need analysis will be imputed in the calculation of school aid eligibility:
Parent Contributions: Single Students The full parent contribution produced by Federal Methodology through the FAFSA will be included in the formula used to calculate school aid eligibility for all single students who are under age 25 when they enter medical school. Those who are 25 or older upon entering MAY have their parents' contribution reduced, depending on the amount of school monies available relative to the total demand of the eligible applicant pool. Students whose calculated parent contribution is not "forthcoming" may replace some or all of the contribution with unsubsidized loans.
Parent Contributions: Married Students If a student's spouse is also a student, the standard single student parent contribution will be assessed in the calculation of school aid eligibility. If the student's spouse is employed, the spouse's contribution from income usually replaces the parent contribution. However, a supplemental parent contribution MAY be assessed in the event that funding falls seriously short of meeting the need of students from financially disadvantaged families.
Allowances for Dependents Federal methodology requires that schools include only those expenses directly related to the student's education in standard cost of attendance budgets that set financial aid maximums. Child care costs while a spouse works or single parent student is in school may be accommodated up to a maximum of $500 per month per child with documentation.
6. Satisfactory academic progress is required to maintain eligibility for school, state or federally funded aid.
7. Loans and Scholarships from Gifts and Endowments
Although you need not apply separately or specifically for any of the school-funded scholarships or loans listed in our medical school catalog, you should always complete the optional information section of the UVA Financial Aid Application to inform the Financial Aid Office if you meet any of the special scholarship or loan criteria such as geographic origin, ethnic background, specialty interest, etc.
8. Institutional Loans
Loans are interest-free during medical school and for six months following graduation or termination of studies. Repayment of principal can be deferred throughout residency training, but the 5% simple annual interest must be paid monthly beginning six months after graduation and continuing throughout training. Repayment of principal begins upon completion of residency training and interest continues to be assessed on the unpaid balance throughout the life of the loan. The maximum repayment period is ten years in duration.
See also: Examples of Packaging Policy