Student loans are funds that must be repaid. Repayment begins 6 months post-graduation or non­ enrollment. Because of this, we recommend students research and apply for as many grants and scholarships as they can before considering student loans. We also encourage responsible borrowing to our students to borrow only the amount needed.

Subsidized Loan

Subsidized Loans are available to undergraduate students with financial need. Eligibility is determined by the program's cost of attendance subtracted by expected family contribution and other financial aid (such as grants or scholarships). Subsidized loans do not accrue interest while enrolled at least half-time or during deferment periods. Maximum lifetime subsidized eligibility is $23,000. To apply, a FAFSA must be on file, you must also complete your loan entrance counseling and sign a Master Promissory Note. studentaid.gov

Unsubsidized Loan

Unsubsidized loans are available to undergraduate and graduate students. Eligibility is determined by enrollment status of at least half time in a degree program. Interest is accruing while you are enrolled in school. Maximum lifetime eligibility is combined with subsidized loans equal to $57,500 as an undergraduate, and $138,500 as a graduate student. To apply you must complete loan entrance counseling and sign your loan Master Promissory Note. studentaid.gov

Parent Plus Loan

Parent PLUS loans are federal student loans applied directly by the parent/guardian. Approval of the loan is based on the parent/guardian's credit. The option of a cosigner is also available. Parent PLUS loans are used to fill funding gaps after exhausting the student's federal student loans, grants, and scholarships. Repayment options are available during the student's enrollment or post enrollment. If the parent PLUS is not approved, the student will be eligible for an additional $4,000 per aid year in unsubsidized loan eligibility. Apply for parent PLUS loan at studentaid.gov

Graduate Plus Loan

Graduate PLUS loans are federal student loans available to graduate students and applied for directly by the student. Approval of the loan is based on the student's credit. The option of a cosigner is also available. Repayment options are available during enrollment or post enrollment. Apply for Grad PLUS loan at studentaid.gov

Private Outside Loans

Independent student loans are available for undergraduate and graduate students to help fill gaps beyond federal loans. Students must apply independently for outside loans. If approved, please notify the financial aid office to be added to their aid package.

Sallie Mae Student Loan: www.salliemae.com/student-loans

College Ave Student Loan: www.collegeavestudentloans.com

The Federal Work Study provides federal funding for part-time jobs for undergraduate and graduate students with a financial need through on campus or pre-approved off campus employment. Federal Work Study employment allows students to earn money to help fund educational expenses. In this program, students whose Free Application for Federal Student Aid (FAFSA) qualify them for FWS are awarded an allotment of funds which may be earned through part-time employment in FWS-approved positions either on-campus or off-campus. FWS jobs are designed to be flexible around students’ class schedules.

If interested in applying for a Federal Work-Study job, students must meet basic eligibility criteria as determined by the Free Application for Federal Student Aid (FAFSA) and complete the following steps:

1. Submit applicable aid year FAFSA and include interest for FWS on FAFSA.
2. Submit a work-study application to the Financial Aid Office.
3. If a position is available, you will be contacted by the FWS coordinator and an interview will be scheduled.
4. If you are offered a position, you will be required to complete all FWS new hire paperwork BEFORE you begin to work.

Student Federal Work Study Eligibility Requirements:

1. Student must demonstrate financial need (confirmed with FAFSA information).
2. Student must be enrolled for at least ½ time credits (6) and maintain good academic standing.
3. Students are expected to provide their supervisors with their class schedules prior to each semester. A student who is scheduled to be in class, is not allowed to be working during class time.

Available Positions (attachment)

VUL Athletic Aid Awarding Policy

Virginia University of Lynchburg athletic scholarships are need-based scholarships and not awarded based on talent or recruiting methods. Student athletes must complete their FAFSA via studentaid.gov to be eligible. Once the FAFSA has been submitted and the file has been approved by the Financial Aid office then an athletic offer will be awarded.

Federal Student Aid calculates an Student Aid Index (SAI) number based on the household income and FAFSA data elements. This information is determined by the Department of Education. Financial Aid will determine athletic award based on the student-athletes' SAI, grade level, and housing classification.

Eligibility for an Athletic Scholarship:

• Meet Admissions requirements for admittance.
• Complete the FAFSA and submit all required Financial Aid documents.
• Enroll in a minimum of 12 credit hours per semester.
• Meet and maintain eligibility requirements for athletic participation established by NCCAA.
• Maintain satisfactory academic progress per VUL's academic policies.
• Adhere to all rules and policies of the institution and Athletic Department. (Including but not limited to team rules, housing, medical and equipment room guidelines, and policies.)

Reduction or Cancellation of an Athletic Scholarship:

• Become ineligible for intercollegiate competition.
• Give false information on letter of intent, Admissions, and Financial Aid paperwork.
• Engage in serious misconduct that leads to disciplinary action or dismissal from institution.
• Does not meet the conditions of eligibility outlined above.
• Does not adhere to credit hour/GPA requirement for grade level eligibility.
• Sign a professional sports contract.
• Accept money for playing in an athletic contest.
• Accept representation by an agent.
• Receive other outside aid that negates the need base requirement.

VUL Academic Scholarships

Academic merit scholarships are based on GPA, academic achievement, and other criteria. Students are automatically considered for merit scholarships in the application review process.

New Students

To qualify for an academic scholarship, a first-time, first-year student must have BOTH of the following: (Incoming Freshmen)

Test	Min. Composite Score
SAT	940
ACT	18

GPA	Scholarship Award
3.30-3.50	$350/semester
3.51-3.79	$500/semester
3.80-4.00	$750/semester

Transfer Students

To qualify for an academic scholarship, a transfer student must have the following: (Transfer)

GPA	Scholarship Award
3.30-3.50	$350/semester
3.51-3.79	$500/semester
3.80-4.00	$750/semester

It is the student's responsibility to send in their transcripts and SAT/ACT scores to the Financial Aid Office.

Institutional and Presidental Scholarship

Institutional and Presidential scholarships are awarded by VUL executive leadership.

Outside Scholarships

All students also are encouraged to apply for outside/private scholarships that are not VUL specific. Starting in the fall of your senior year, check regularly with your school counselor about scholarships offered in your community. You can create online scholarship profiles on sites such as UNCF, FastWeb, Chegg, and BigFuture.

Outside scholarships and tuition reimbursement payment can be made payable and sent to:

Virginia University of Lynchburg C/O: Business Office
2058 Garfield Ave
Lynchburg, VA 24501

*Please make sure the student name is included on all outside scholarship payments**

Members of the military should contact the Department of Veterans Affairs to determine individual eligibility for the Post 9/ 11 GI Bill®. Information can be found on the VA's website. Veterans or their dependents may call the VA at 888-442-4551 to speak with a veteran's benefits counselor.

Once eligibility has been determined by the VA, the qualified individual should present the appropriate certificate of eligibility to the VA coordinator adavis@vul.edu.

GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs.

Virginia University offers multiple payment plan options. If you would like to self-pay or obtain more information regarding payment plans, please contact the Student Accounts Office at (434) 333-6437 or studentaccounts@vul.edu.