U.Va. to end no-loans policy for lower-income students - Richmond Times-Dispatch: Business News: The Markets

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Wednesday, Apr. 16, 2014

Business News: The Markets

COLLEGE COSTS U.Va. to end no-loans policy for lower-income students

School will phase outits no-loans policy for low-income students

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  • University of Virginia Graduation

    The University of Virginia is ending a policy that assured low-income students participating in its financial-aid program could graduate without debt.

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Posted: Thursday, August 8, 2013 12:00 am | Updated: 1:55 pm, Thu Aug 8, 2013.

The University of Virginia will drop an original tenet of its financial-aid program that assured low-income students could graduate without debt, raising concerns that socioeconomic diversity will suffer in the effort to shore up the finances of AccessUVa.

At its weekend retreat, U.Va.’s board of visitors with two dissenting votes approved a change that will limit grant awards and include loans for the first time in the aid packages of undergraduates with the most financial need.

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