Endowment is 9.5B, not the budget, which is much less. Endowments are usually given for a given purpose and support a lot of things (medical center, athletics, etc.), so I'm sure they still love OOS tuition for undergraduates. On the UVA site, I've seen that UVA has less money available per student than UNC, largely due to the state allocation. |
I think it is more of a response to what private schools like Rice have been doing: Beginning next fall, the private university in Houston will offer full tuition scholarships to families earning up to $130,000 per year, and at least half tuition scholarships for families earning between $130,000 and $200,000 per year. Families earning less than $65,000 will not only have the opportunity to receive a full scholarship to the university, but they will also be given grant aid to cover fees and room and board, according to a press release from Rice’s Office of Public Affairs. I'm not sure this is really much of a change. UVA (and W&M) have already been offering substantial grant aid to lower income students. They do it by charging more to well-to-do students. |
Unlike UNC, UVA gets only 5% of budget now from the Commonwealth. It was spun off on its own years ago and has done a masterful job of accumulating that 9.5B. |
Which exists because of tax breaks. They pay no tax on earnings, and donors get tax breaks on donations. |
Exactly. Michigan did the same thing last year and it was really meant to clarify the message to lower income students who might otherwise think the school was out of reach. These kids were already getting full financial aid, so it doesn't mean the school is changing its aid policy. |
| Kids with d c my grade point averages and SaTS get some other VA schools tuition free or half off. Mary WShington has this. Still have to pay room and board and other expenses. There is no household income limit for this. It’s a great opportunity. |
| Argh . Kids with a decent^ GPA, not D C... |
Only 10% low income??for a public school?? Give me a damn break. |
Guess they can get a 9.5bn endowment by admitting 90% rich kids. |
| We aren't instate and not qualify even if we are, but I wholeheartedly applaud UVA's decision. It acts as a great incentive for children of poor and middle class families to study hard and earn an admission offer from UVA. I hope UVA will offer continued academic and social support to such students to increase their chances of successfully earning undergraduate degree. I hope other state universities in other states follow UVA's example. It is a great way to enhance economic diversity among entering cohort. |
UVA has nothing to say about what percentage is determined to be low-income. The federal government establishes what low-income is and what a student is entitled to receive after the family files the FAFSA. The term "low-income individual" has been established by the Department of Education to be an individual whose family's taxable income for the preceding year did not exceed 150 percent of the poverty level amount. Here are the ranges. https://www2.ed.gov/about/offices/list/ope/trio/incomelevels.html. The federal government sets a EFC (Expected Family Contribution) for each student. That info goes from the Department of ED to UVA. UVA pays 100 percent of education costs for low-income students as defined by the U.S. Department of Education. In addition to 10% low income, UUVA also has 35% students of color, 10% first-generation students (often from low-income or middle-income backgrounds), 8% international students, 37% OOS, etc. Also, the University has 100 Blue Ridge Scholarships for high achieving students from disadvantaged or underrepresented backgrounds. And there are also the Jefferson Scholars (full ride) as well that often goes to low-income students, but not necessarily. And UVA participates in Questbridge as well (HHI of less than 65K a year). To further diversity it brings in students from all 50 states and 147 nations. Finally, UVA expanded its financial aid program for middle-income Virginians in 2017, these are called "Cornerstone Grants" of $15 million to be distributed over the next three years. Middle-income families are defined as families with income of less than $125K who do not receive grants or scholarships from other sources. Please remember that the Cost of Attendance at UVA is also set at a fraction of what private universities and SLACs are charging. For many families, that delta of $45K or more per year means the difference between attending college or not attending even if they are paying full-freight. |
I think the point was these are low numbers compared to schools like UCLA and Berkeley. |
Perhaps, but you’re also comparing the state of CA to the state of VA. |
| I see the crossed rapier w/“V” magnets on Acura, Lexus, GMC, Porsche et al. SUVs around northern Virginia. It seems like it’s got a very wealthy student body and that 10% low income stat doesn’t surprise me at all. |
This is tautological. You need only say "gigantic" or "behemoth" as they mean the same thing, to say both together is incorrect. |