FAQ's
Applying For Aid
Q: How do I apply for aid at Virginia Tech?
A: Submit a Free Application for Federal Student Aid (FAFSA). The information from the FAFSA will help us to determine the type of aid you are eligible to receive. For more information please see our Applying for Aid Process page.
Q: What documents will I need to complete the Free Application for Federal Student Aid (FAFSA) for the 2008-2009 Academic Year?
A: You will need the following documents:
- Your 2007 Federal Tax Return and all 2007 W-2 Forms
- Your spouse's 2007 Federal Tax Return and all 2007 W-2 Forms (if applicable)
- Your parents' 2007 Federal Tax Return and all 2007 W-2 Forms (if you are dependent)
- Bank statements for checking, savings, and investment accounts
- Business and farm financial records
Q: What is the deadline for submitting my Free Application for Federal Student Aid (FAFSA)?
A: The FAFSA (with correct signatures) must be submitted by the priority deadline of March 11th of each year. If the FAFSA is received late, you will only be considered for Federal Stafford Loans, Federal Pell Grants, and Federal Parent PLUS Loan.
Q: What is Virginia Tech's Title IV Code (information required on the FAFSA form)?
A: Our Title IV Code is 003754. More tips can be found on our page, Tips for Completing and Correcting the FAFSA.
Q: How can I get a scholarship?
A: Many Virginia Tech students with scholarships received them from outside sources such as hometown civic organizations or professional groups. The majority of academic scholarships awarded by Virginia Tech to freshmen are given out by academic departments and the Honors Program, based on information contained in your admissions application. Our office does award some scholarships through the General Scholarship Program. The deadline for completing the online General Scholarship Application is March 11th of each year. See our section on Scholarship for more information on scholarship opportunities.
Awards and Changes in Financial Aid or Aid Reconsideration
Q: How long does the awarding process take?
A: Visit our page for more information on the Award Package.
Q: What if I need more aid and/or the FAFSA does not reflect my present situation?
A: You can complete a financial aid reconsideration form to appeal the amount of aid awarded or to update your current situation. Additional information can be found on our page, My Circumstances Have Changed, What Can I Do?
Q: If I move off-campus, how does this affect my financial aid?
A: We use the same housing cost figures to determine aid eligibility for both on-campus and off-campus students. The difference is that off-campus students are billed by Virginia Tech only for tuition and may receive some of their financial aid as an excess aid refund. The excess aid is often used to assist in paying for off-campus living expenses (rent, utilities, groceries, etc). Before you move off-campus, make sure you make a budget for the various costs associated with renting an apartment that you would not encounter as an on-campus student.
Q: My financial aid awards were reduced. How can aid be reduced after it was awarded it to me?
A: Federal and state financial aid laws state that a student cannot receive a financial aid amount greater than the cost of attendance minus any other aid and the Expected Family Contribution. Virginia Tech is obligated to reduce your federal or state aid if outside aid or scholarships result in an over-award situation. For example, if a student receives a new scholarship midyear, causing him to be over awarded, then the aid package will need to be reduced to compensate for the scholarship. Had we known about this scholarship when the original financial aid package was calculated, the aid amount would have been lower in the original package. To adjust for an over-award, we normally reduce the Federal Stafford Loan first, then Federal Work Study, before we review remaining eligibility for grants.
Q: I already signed for a certain amount on my student loan, and then it was reduced. Why can't I just pay it back to Direct Loans after I graduate?
A: When you sign your promissory note for a direct loan it does not have a specific borrowed amount on it. It is a Master Promissory Note, good for all Stafford Student loans you borrow over the years in the Federal Direct Lending Program. Your Hokie SPA/ MyVT account will show the current amount of the loan for each academic year, and the total amount from each academic year is the amount you are obligated to repay once you leave Virginia Tech and begin loan repayment. Virginia Tech may be obligated to reduce your loan and return those funds to the lender if you become ineligible for all or part of the funds or an over-awarding situation arises.
Parental Income Tax and Additional Information
Q: Should I send in my tax forms and other paperwork before you ask for it?
A: You should not submit tax forms unless specifically requested to do so. Paperwork that is not required causes us to take time away from reviewing information that was requested.
Q: Must my parents and I complete our 2007 federal tax forms before filing the FAFSA?
A: The FAFSA allows estimates for income and tax information if the applicant and/or applicant's parents have not yet completed federal tax forms for 2007. On #32 for students and on #76 for parents, select choice B ("will file, but have not yet completed my return"). If you do estimate, keep in mind that you must correct your FAFSA later (via the paper Student Aid Report or FAFSA on the Web) with the actual tax figures, since you are obligated by law to report an accurate picture of your family's finances. We prefer that you file the FAFSA with estimates instead of waiting for a completed federal tax return, if waiting for your tax return will prevent you from meeting our priority-processing deadline. The priority deadline for the FAFSA is March 11th each year. Students whose FAFSAs are recorded after March 11th will be considered late, and will likely only receive consideration for the federal Stafford loan, federal parent PLUS loan, and federal Pell grant.
Q: If my parents are divorced or separated, do I include both parents' income information on the FAFSA, even though they no longer live together?
A:The FAFSA worksheet (page 4) gives the following explanation:
“If your parents are divorced or separated, answer the questions about the parent you lived with more during the past 12 months. If you did not live with one parent more than the other, give answers about the parent who provided more financial support during the past 12 months, or during the most recent year that you actually received support from a parent. If this parent is remarried as of today, answer the questions about that parent and the person to who your parent is married (your stepparent).”
Q: If my parents are divorced, and the parent I receive more support from remarries, do I have to include my stepparent's income information on the FAFSA, even though that person does not provide any financial support for me?
A: Federal financial aid law states that if your biological parents are divorced, and you live with the parent who has remarried, you must include the stepparent's income information on the FAFSA, since you are considered part of that person's household. This is the case even if your parent and your stepparent file separate federal tax returns. You complete the FAFSA by adding the amounts from both of the tax returns together.
Quality Assurance
Q: My Student Aid Report (SAR) indicates that I was selected for "Verification." What does this mean?
A: Instead of the Federal Verification Program, Virginia Tech participates in the Federal Quality Assurance program, which allows our financial aid staff to study our student population and only verify certain FAFSA items that have often been error-prone for our students. If we need additional documents to verify your FAFSA (i.e. tax returns, household verification sheet) we will send those to you to complete and return to us. Documents requested by our office are visible by the student on Hokie SPA/MyVT.
About Our Office
Q: When is your office open?
A: We are open from 8-5, Monday through Friday, and closed on all university recognized holidays.
Q: What do I do if I experience difficulty contacting your office?
A: Our office handles thousands of phone calls per week during peak times. We have 5 incoming phone lines that stay constantly busy. We can also be reached by emailing us at finaid@vt.edu.
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Instate Residency Tuition Issues
Q: How can I obtain Virginia residency status for tuition purposes?
A:There are several pieces of information that are reviewed before awarding a previously out-of-state student Virginia residency status. If you are an incoming freshman and have questions about whether you can be considered for in-state tuition rates, please contact the Admissions Office (540-231-6267). For returning students with these questions, contact the Registrar's Office (540-231-6251), graduate students should contact the Graduate Admissions Office in Sandy Hall (540-231-3092), Vet-Med students should contact the Academic Affairs Office of the Vet School (540-231-4699), and Agricultural Technology students should contact the Ag-Tech program (540-231-7649).
Financial Aid Myths
MYTH: I consider myself independent because (either one or more of the following):
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My parents don't claim me as an exemption on their federal tax return.
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My parents cannot (or refuse to) pay any of my school expenses, I pay for everything.
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My parents live out of state, and I have a Virginia address.
FACT: Dependency, according to federal financial aid law, is not determined by any of the above situations. For example, a student who is classified as independent for federal tax filing purposes may or may not also be classified as independent for financial aid filing purposes. In general, your answers to the questions in "Step Three" of the FAFSA determine whether or not you can file the FAFSA as an independent student (which means you do not include parent information on your FAFSA). If you can answer "yes" to any of these items, then you are considered independent for financial aid purposes, and can complete the FAFSA without parent data. We do offer the option of a dependency override by appeal for certain students. The Dependency Appeal form can be found on our Forms page.
MYTH: An advisor at my high school said that if I didn't get a satisfactory financial aid and scholarship package from the college of my choice, then I should meet with someone to negotiate a better package. Is this true?
FACT: Virginia Tech financial aid and scholarship offers are not negotiable. We believe in offering students the best financial aid package available for that individual. As a public institution, we have limited federal, state, and institutional funds, which leave no room for negotiation. If you are trying to decide which college to attend, make sure the diploma from that college is a good investment for you. Some colleges may offer large scholarship awards to make up for high tuition costs. After subtracting the scholarship, the net cost of the school may be close to the cost of a lower priced school that offers you little or no financial aid, but offers a more desirable diploma.
Privacy
Q: Why can't my parents know what kind of aid I received?
A:The Buckley Amendment prohibits any university employee from discussing any specific financial matters with anyone (including your parents) without your written permission. You can release this information to your parents (or anyone else) by completing the Information Release Form and returning it to our office.