University of Virginia (UVA) Tuition and Fees

University of Virginia (UVA) Tuition and Fees

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    By Kelly Boyer Sagert

    (Last Updated – 09/2022)

    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)

    •  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)

    Financial Aid

    UVA offers need blind admission and also meets 100 percent of needs of in-state and out-of-state undergraduate students. In 2020-2021, 63% of first-time, full-time undergraduate students received aid, including student loans. More specifically:

    •  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.

    Recommended: Scholarship Search – College Scholarships Finder Tool

    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

    Recommended: The Differences Between Grants, Scholarships, and Loans

    Private Student Loans

    In 2020-2021, 6% of UVA students received private student loans with an average amount of $11,030.

    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 2021-2022, the University of Virginia cost for tuition was:

    •  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%.

    Admission Requirements

    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:

    Subject

    25th Percentile

    75th Percentile

    SAT Evidence-Based
    Reading/Writing

    690

    750

    SAT Math

    690

    750

    ACT Composite

    32

    35

    ACT English

    33

    35

    ACT Math

    30

    35

    UVA Graduation Rate

    UVA graduation rates are:

    •  4 years: 89%

    •  6 years: 94%

    Post-Graduation Median Earnings

    University of Virginia graduates earn a median salary of $77,048 a year. When compared to the national average for other four-year college grads of $47,891, UVA’s earnings are 61% higher.

    Bottom Line

    UVA is one of the best public universities in the country with well-respected academic programs. And although the school’s tuition is higher than average, UVA is committed to meeting 100% of need for in-state and out-of-state students.

    SoFi private student loans offer competitive interest rates for qualifying borrowers, flexible repayment plans, and no origination fees.

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