by our College Data Analytics TeamThe majority of students will not be asked to pay the advertised price of a school. Instead, they will be provided a financial aid package that will include a combination of scholarships, grants, loans, and work-study. The total price of attendance at Virginia Polytechnic Institute and State University can feel overwhelming, but bear in mind that many students receive some sort of financial aid.
Just what financial aid solutions can Virginia Tech deliver, and just what are you going to be eligible for? Keep reading for answers. Keep reading to see just how much financial aid could be open to you.
Your financial aid package, which may contain grants and scholarships, will be determined on your financial need. Continue reading to find information to help you understand just how much assistance you can expect to receive from Virginia Polytechnic Institute and State University.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
For incoming first-year students at Virginia Polytechnic Institute and State University, 67% of new full-time first-years were awarded at least some aid (about 4806 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 60% | $9,168 |
| Institutional grants & scholarships | 60% | $6,031 |
| Federal Pell grants | 15% | $5,712 |
| State/local grants | 15% | $6,738 |
| Federal student loans | 37% | $5,463 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. At Virginia Tech, roughly 52% of undergraduates were awarded an average grant or scholarship of $10,993 (among about 15943 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 52% | $10,993 |
| Federal Pell grants | 15% | $5,678 |
| Federal student loans | 34% | $6,384 |
For students living on campus and receiving title-IV aid, grants averaged $11,998.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $14,122 |
| $30,001 – $75,000 | $17,631 |
| Over $75,000 | $29,545 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
After grants and scholarships come off the published price, what remains is the net price — the best estimate of true out-of-pocket cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $24,953 |
| Off-campus title-IV students | $23,790 |
For an estimate tailored to your family circumstances, see Virginia Tech’s NPC: [tcc.ruffalonl.com/Virginia Polytechnic Institute and State Universit/Freshman-Students](https://tcc.ruffalonl.com/Virginia Polytechnic Institute and State Universit/Freshman-Students).
A typical borrower at Virginia Tech leaves with $19,000 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $19,000 |
| Median federal debt (graduates only) | $21,500 |
| Typical 10-year monthly payment (graduates) | $227.94/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
A single median figure conceals how much debt outcomes differ student to student. Use the percentiles below to see the debt range at Virginia Tech.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $11,000 |
| 75th percentile | $28,000 |
| 90th percentile (highest-debt students) | $31,000 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $17,977 |
| Middle income | $19,500 |
| High income | $19,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $18,844 |
| Continuing-generation students | $19,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $19,000 |
| Independent students | $17,611 |
The Department of Education computes summary indicators that describe debt outcomes at a glance. Virginia Tech.
The Stafford loan program is the largest source of federal direct loans to undergraduates. Below is the annual Stafford program activity at Virginia Tech:
| Metric | Value |
|---|---|
| Stafford loan recipients | 56068 |
| Total Stafford loan amount | $1,249,230,735 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 891 |
| Total GI Bill amount | $11,803,097 |
| Average GI Bill amount per recipient | $13,247 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 34 |
| Total DoD amount | $79,590 |
| Average DoD amount per recipient | $2,341 |
References
More about our data sources and methodologies.