The University of Virginia is a public research university in Charlottesville, Virginia, known for its academic programs. U.S. News and World Report named UVA as the fourth best public university in the country in 2022. It’s also fairly affordable: Money Magazine ranked it the third best value in public universities in 2022. Read on to learn about the school’s admissions requirements, the University of Virginia acceptance rate, tuition, financial aid, popular majors, and more.
Total Cost of Attendance
In 2021-2022, University of Virginia tuition and other expenses are as follows:
• In-state tuition: $19,244, 1.5% higher than the previous year ($18,960)
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• Out-of-state tuition: $53,626, 1.5% higher than the previous year ($52,843)
• Books and supplies: $1,396, 2.9% higher than the previous year ($1,356)
• Room and board: $12,660, 2.5% higher than the previous year ($12,350)
• Other fees: $3,014, 0.5% higher than the previous year ($2,998)
• Total, in state: $36,314, 1,8% higher than the previous year ($35,664)
• Total, out of state: $70,696, 1.7% higher than the previous year ($69,547)
• Federal grants: 32% received this type of aid with an average award of $4,032
• Pell grants: 13% received this type of aid with an average award of $4,955
• Other federal grants: 32% received this type of aid and the average award was $1,947
• State/local: 5% received this type of aid with an average award of $14,195
• Institutional: 33% received this type of aid with an average award of $20,975
• Student loan aid: 26% received this type of aid with an average amount of $7,420
• Federal student loans: 25% received this type of aid with an average amount of $4,845
• Other private loans: 6% received this type of aid with an average amount of $11,030
Generally, financial aid is monetary assistance awarded to students based on personal need and merit. Students that qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.
The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, and nonprofits. The different types include:
• Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, and financial need.
• Grants: Generally based on financial need, these can come from federal, state, private, and non-profit organizations.
• Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.
• Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than private loans.
Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state and federal and school deadlines may differ.
You can find other financial aid opportunities on databases such as:
• US Department of Education – Search for grants from colleges and universities by state
• College Scholarship Service Profile (CSS) – A global college scholarship application used by select institutions to award financial aid
Private Student Loans
Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or state-affiliated organizations. While Federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations so their qualifications and interest rates can vary widely.
What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school, compared to federal student loans which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.
Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for as it generally may have better rates and terms.
If you’ve missed the FAFSA deadline or you’re struggling to pay for school throughout the year, private loans can potentially help you make your payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.
Recommended: Guide to Private Student Loans
Projected 4-Year-Degree Price
• In-state tuition: $19,244
• Out-of-state tuition: $53,626
Four years of in-state UVA tuition would cost $76,976 if there were no price increases. Four years of out-of-state tuition would cost $214,504 if the tuition remained the same
Here’s some Virginia Student Loan & Scholarship Information for you.
Undergraduate Tuition and Fees
In 2021-2022, University of Virginia tuition undergrads was:
• In-state tuition: $19,244, 1.5% higher than the previous year
• Out-of-state tuition: $53,626, 1.5% higher than the previous year
Graduate Tuition and Fees
In 2021-2022, UVA tuition for graduate students was:
• In-state: $17,674
• In-state fees: $3,232
• In-state total: $20,906
• Out-of-state tuition: $29,606
• Out-of-state fees: $3,914
• Out-of-state total: $33,520
The national average for graduate program tuition and fees at a four-year public university in 2019-2020 was $12,410. This makes the in-state UVA tuition 68.5% higher and the out-of-state tuition, 1.7 times higher. Graduate loans can help with this cost.
Cost per Credit Hour
For the January 2023 term, the University of Virginia cost per credit hour for undergraduates in state will be $443, and $1,625 for out-of-state students.
Graduate costs per credit hour for 2022-2023 are $827 for in-state students and $1,394 for out-of-state students.
Campus Housing Expenses
In 2021-2022, room and board expenses at UVA were $12,660, 2.5% higher than the previous year.
For off-campus housing, in mid-2022, the average rent for a studio apartment in Charlotte was $990, a one-bedroom was $1,300, and a two-bedroom was $1,513. Apartment leases are often for the full year, and not just the academic one.
University of Virginia Acceptance Rate
In fall 2021, 47,971 students applied to the school, and the University of Virginia acceptance rate was 21%.
Students can apply online noting these deadlines:
• November 1 of the previous year for early decision/early action
• January 3 of the academic year for regular decisions
Applicants must include a secondary school report, including a counselor recommendation; a teacher evaluation; and transcripts.
SAT and ACT Scores
UVA is test optional for the fall 2023 cycle. In fall 2021, of the students who reported scores, 52% submitted SAT scores and 21% submitted ACT scores. The 25th and 75th percentile scores were:
Popular Majors at UVA
In 2021, 4,453 undergraduates graduated from UVA in dozens of areas of study. Here are some of the most popular majors.
1. Liberal Arts and Sciences
2. Management Sciences/Quantitative Methods
5. Computer Science
7. International Relations and Affairs
8. Registered Nursing
9. Bioengineering/Biomedical Engineering
10. English Language/Literature
UVA Graduation Rate
• 4 years: 89%
• 6 years: 94%
Post-Graduation Median Earnings
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SoFi Private Student Loans
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Featured Image Credit: UVA.edu / Sanjay Suchak, University Communications.