The University of Virginia has jumped into the top 10 best-value American universities in Money Magazine’s 2018 “Best Colleges for Your Money” rankings, announced today, edging out Harvard University.
A new, $100 million investment in the Bicentennial Scholars Fund emphasizes a deeper focus on matching opportunities for endowments supporting scholarships for undergraduate students with financial need.
Through its AccessUVA financial aid program, the University already commits to meeting 100 percent of demonstrated financial need of all undergraduate students. Matching programs that grow private gifts in support of scholarships help advance the University’s efforts to eventually transition all need-based financial aid from sources that currently include tuition and other funds to being fully funded by philanthropy.
UVA considers student applications for admission without reviewing a family’s financial situation, and is committed to meeting the full, demonstrated financial need of all undergraduate students who attend the University.
The expanded programs will support the University’s ongoing efforts to make UVA accessible for all talented students regardless of their ability to pay and to bolster the diversity of the undergraduate student body.
The board’s Executive Committee announced that an allocation of $5 million will provide 50 additional University Achievement Awards and support an additional 50 Blue Ridge Scholarships for the class entering this fall, providing funding for each student recipient for their full four-year undergraduate career.
UVA is one of only two public universities in the nation that offers need-blind admission while also meeting 100 percent of need for all in-state and out-of-state undergraduate students.
The University’s commitment to financial aid is substantial and increasing. UVA projects it will award more than $79 million in grants that do not have to be repaid to in-state and out-of-state undergraduates in this academic year. Need-based grants will assist a projected 3,181 Virginia undergraduates in 2016-17.