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Money Matters Informational Sessions

Money Matters at Virginia Tech

Money Matters is more than a Zoom series—it's personalized, just-in-time guidance to help you and your family confidently navigate the financial journey to and through Virginia Tech.

Created especially for prospective students and their families, Money Matters meets you where you are in the transition to college. Each session is designed to simplify the process, answer your questions, and ease the stress of paying for college—right when you need it most.

Start with Money Matters: Classic

Our Classic session is the perfect first step for incoming students and their families. Hosted by the Office of University Scholarships and Financial Aid, the Office of the University Bursar, and Hokie Passport Services, this session walks you through the essentials of becoming a Hokie.

From financial aid and billing to dining plans and ID cards, we’ll cover what to expect and how to prepare. You’ll get clear explanations, practical tips, and live answers to your questions. All Classic sessions offer the same valuable overview—just pick the time that works for you.

Go deeper with Money Matters: Loan Smarts, Covering the Gap, and more

Money Matters: Loan Smarts – A focused session on federal and private loans, borrowing strategies, interest, and repayment—so you can make informed decisions with confidence.

Money Matters: Covering the Gap – From understanding your billing statement to exploring outside scholarships, loans, and payment plans, this session helps you calculate your remaining balance and make a plan—all in one session.

No matter where you are in the process, Money Matters is your trusted guide—simplifying financial aid, answering your questions, and helping you make decisions that work for your family.

Money Matters Classic: What We'll Cover- All in One Session!

  • Student Accounts
  • Billing Information and Deadlines
  • Payment Options
  • 529 Plans
  • Refunds
  • Direct Deposit
  • Outside Scholarship Reporting
  • Getting a Hokie Passport
  • Hokie Passport ID Card Uses
  • Dining Plans
  • ID Card Deposits
  • Financial Aid and Scholarship Offer
  • Key Financial Aid Portal Information
  • Covering the Gap- Remaining Balance
  • Parent and Private Loan options

Register Here:

Money Matters Presentation: 

Money Matters: Loan Smarts- Simplifying Loans, All in One Session!

These sessions have concluded this year, but we encourage you to attend a Money Matters: Covering the Gap Session or use the PowerPoint below as resource.

Money Matters: Loan Smarts is a focused extension of the popular Money Matters series, designed to dive deep into everything students and families need to know about borrowing for college. Unlike the general series, this Zoom session is dedicated exclusively to understanding, applying for, and managing student and parent loans. Getting a loan is easy. Understanding it? That’s where we come in.

Smart Borrowing Starts Here!

Money Matters: Loans Smarts will cover: 

  • Understanding Loan Options
  • Applying for Loans
  • Avoiding Error & Delays
  • How to Accept or Decline Loans
  • Loan Requirements
  • Repayment- What Happens After Graduation
  • Loan Tools & Resources

Money Matters: Loan Smart Presentation

Money Matters: Covering the Gap- Learn What You Owe and How to Pay It, All in One Session!

Not sure how to pay the rest of your bill after financial aid is applied? Money Matters: Covering the Gap is here to help! This session is designed to help you understand your out-of-pocket cost at Virginia Tech and explore your best options for covering it.

Money Matters: Covering the Gap will discuss: 

 

  • Reading and understanding your billing statement
  • What your “gap” is and how to calculate it
  • What to do if financial aid doesn’t cover everything
  • Options to help cover the gap, including: Outside scholarships, Federal Parent PLUS Loans, Private loans, Budget Tuition Payment Plan

 

 

 

 

Money Matters: Covering the Gap Presentation

Money Matters Classic FAQ:

Real Questions from Students & Families

Should I apply for loans before or after getting the bill?

You should apply for Parent PLUS and private loans before the bill is issued, if possible. Use the estimated cost of attendance as a guide. Once your bill arrives, you can request to reduce your loan if needed.

When can I apply for a Parent PLUS Loan?

You can apply here starting June 16, 2025. If approved, separate Master Promissory Note is required. These loans are automatically sent to the University Scholarships and Financial Aid Office.

Need a private loan? Use ELM Select

ELM Select is a tool that helps students and parents compare and choose private loan lenders. Access it here: ELM Select for Virginia Tech.

Do I need to complete anything beyond accepting federal loans?

Yes. To receive federal loans, students must:

Where can I find an estimate of yearly costs?

Annual cost estimates are available at finaid.vt.edu/undergraduate/coa.html. Keep in mind that Virginia Tech bills per semester and these are estimates for the entire year.

Scholarships

Have scholarships for 2025–26 already been awarded?

Yes, university-administered scholarships for the 2025–26 academic year have already been awarded. If additional funding becomes available, eligible students will be automatically considered. There is no need to contact our office to request additional funding.

Can students apply for scholarships for future years?

Yes. Scholarship Central opens in August each year, with a deadline of January 22 for the upcoming academic year. All students, including international and continuing students, are encouraged to apply annually.

Work Study & Employment

Can students do both Federal Work Study and a job in the dining hall?

Yes, students may do both. However, balancing multiple jobs can be challenging, especially during the first year of college.

Do you have to apply for Work Study like a regular job?

Yes. If awarded Federal Work Study, students still need to apply for a position through Handshake (Virginia Tech’s job portal).

When will Handshake have Fall 2025 job postings?

Departments are encouraged to post jobs by July 1, but some listings may appear earlier. Students can view and apply to jobs anytime through Handshake.

Is accepting a work-study offer binding?

No, it's not binding. Students are only paid if they are hired and actually work, like a regular job. If no job is secured, the offer may be removed. Note: Students should pay attention to their VT emails for dates regarding securing positions to avoid cancellation. 

When will the Fall 2025 bill be available?

Billing notifications are sent to students and authorized payers around mid-July. Make sure to add authorized payers in Hokie SPA so they can receive these notices.

When will Fall 2025 tuition be due?

Fall 2025 tuition will be due on August 11, 2025. 

What payment options are available?

Virginia Tech offers several payment methods, including full payment and monthly installment plans. Information on the budget tuition plan is available at VT Wallet.

Is there a fee to pay with a credit card?

Yes, there is a 2.75% service fee for credit card transactions.

Is housing included on the student bill?

Yes, if the student is living on-campus. On-campus housing charges appear directly on your billing statement and are paid through the Hokie Wallet. Visit housing.vt.edu for more information.

Will dining plans be on the bill?

Yes, if the student is living on-campus. If you are not living on-campus but elect to purchase a dining plan, it will be on your billing statement as well. 

What is the difference between billable and non-billable expenses?

Billable expenses are paid directly to Virginia Tech and include tuition, fees, on-campus housing, and on-campus dining.


Non-billable expenses include books, supplies, transportation, and personal expenses—costs you must budget for, but not pay directly to the university.

Refunds 

What happens if scholarships and aid exceed the bill?

If financial aid exceeds your billable charges, the remaining balance will be refunded to the student. These funds can be used for books, personal expenses, or other educational needs. Visit the Bursar’s refund page for details. Note: Students are encouraged to set up direct deposit for quick refund processing. 

529 Plans

Can 529 plans pay for non-billable expenses?

529 plans can be used for qualified education expenses, including housing and dining (if billed by the university). For non-billable items like books, consult your 529 plan provider or refer to the IRS guidance. For more information about 529 plans, visit our 529 plan webpage here

Where do students set up FERPA access for parents?

Students can create a FERPA passcode and manage access permissions through Hokie SPA. For more information about FERPA, visit our webpage

Veterans

Who do I contact for Veterans Services?

Veterans and their dependents should visit veterans.vt.edu for assistance and questions regarding the processing all documentation related to veteran and military student educational benefits.  The Office of Veterans Services also collaborates with university and community partners to ensure that veterans and military dependents are connected to the financial, academic, and social resources necessary for a successful transition to and through their course of study at Virginia Tech.

Money Matters: Covering the Gap- Questions & Answers

How is FAFSA or other financial aid applied to my bill?

Financial aid such as FAFSA, scholarships, and loans will automatically appear as credits on your eBill once they are disbursed. You do not need to apply each semester unless you're using private loans, which typically require reapplication each term.

Can I use a 529 plan and a Parent PLUS Loan together?

Yes, you can use both. If you've taken out a Parent PLUS Loan and later decide to use 529 funds, you may use the 529 to pay the bill and reduce the amount you borrow by repaying part of the PLUS loan early. There is no penalty for early repayment.

Who should I contact if I have questions about my bill or financial aid?

For billing questions, contact the Bursar’s Office. For questions related to financial aid, scholarships, or FAFSA, reach out to the Office of University Scholarships and Financial Aid.

How can I set up a payment plan if I’m using a 529 plan or want to make manual payments?

Payment plans at Virginia Tech require auto-debit from a bank account. If you're using a 529 plan, you can still enroll in a payment plan by linking a checking account for auto-debit, and making sure your 529 payment arrives before the auto-debit date. The system will use the credit from the 529 payment first, reducing or eliminating the auto-debit amount.

Where can I find the billing presentation that was mentioned?

You can find the presentation on the Bursar's website or through the link provided during the information session. If you need help locating it, please contact the Bursar’s Office.

Can I pay for both fall and spring semesters at once?

No, you will be billed each semester separately. Payment is required only for the semester currently due.

How can students and parents access the bill?

Students can access their bills through Hokie SPA. Parents or guardians can view the bill if the student grants them access as an Authorized User. This can also be done through Hokie SPA under the "University Account Information" section.

Why don’t I see any yellow boxes or links on my eBill?

If you're viewing a downloaded PDF of the eBill, it won’t include the yellow action boxes or hyperlinks. These features are only visible in the interactive online version of the eBill through Hokie SPA.