Money Matters Informational Sessions
Money Matters- Scholarships at Virginia Tech
Learn how Virginia Tech makes college affordable through scholarships, grants, and financial aid. In this session, representatives from the Office of University Scholarships and Financial Aid will cover:
Virginia Tech’s Commitment to Affordability through the Virginia Tech Advantage program
3,200+ scholarship opportunities available through the General Scholarship Application (GSA)
Key dates, including the Jan 22nd FAFSA and GSA priority date
Application tips to help students strengthen their scholarship submissions
Special initiatives
Join us to learn how Virginia Tech supports students and families in making a Hokie education both accessible and affordable.
Money Matters- Scholarships at VT Presentation
Money Matters- FAFSA First!
New this year, FAFSA First helps you and your family get an early start on the financial aid process. This session walks you step-by-step through completing the Free Application for Federal Student Aid (FAFSA)—from creating your FSA ID to inviting contributors and submitting the form. You’ll learn what information is needed, who qualifies as a contributor, and how to avoid common mistakes.
We’ll also cover important dates:
Submit your FAFSA by March 1 for maximum state and federal aid consideration.
Submit your FAFSA and Virginia Tech’s General Scholarship Application by January 22 for maximum institutional aid.
FAFSA First is designed to reduce stress, simplify the process, and set you up for success as you take the first big step in paying for college.
Money Matters- FAFSA First Presentation
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
Register Here:
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
Register Here:
Money Matters: Covering the Gap Presentation
Money Matters Classic FAQ:
Real Questions from Students & Families
Financial Aid & Loans
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 starting June 16, 2025. If approved, a 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:
- Complete the Master Promissory Note and Entrance Counseling at studentaid.gov.
- Complete any other missing or needed requirements on their financial aid portal.
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.
Billing
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 IRS guidance. For more information about 529 plans, visit our 529 plan webpage.
Other University Information & Policies
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 of 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
Financial Aid & Loans
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 are 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 have 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.
Billing
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 are using a 529 plan, you can still enroll in a payment plan by linking a checking account for auto-debit and ensuring your 529 payment arrives before the auto-debit date.
The system will apply the credit from the 529 payment first, reducing or eliminating the auto-debit amount.
Where can I find the billing presentation that was mentioned?
The billing presentation is available 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 are billed separately for each semester, and payment is required only for the semester that is currently due.
How can students and parents access the bill?
Students can access their bills through Hokie SPA. Parents or guardians may view the bill if the student grants them access as an Authorized User.
Authorized User access can be set up through Hokie SPA under the “University Account Information” section.
Why don’t I see any yellow boxes or links on my eBill?
If you are viewing a downloaded PDF of the eBill, it will not include the yellow action boxes or hyperlinks. These features are only available in the interactive online version of the eBill accessed through Hokie SPA.
Money Matters: Scholarships at Virginia Tech
- Questions & Answers
Scholarship Basics at Virginia Tech
What types of scholarships does Virginia Tech offer?
Virginia Tech offers a mix of merit-based, need-based, departmental, and donor-funded scholarships. Some awards are based primarily on academic achievement, but many also consider financial need and other factors such as major, class year, or special programs.
Are there minimum GPA or test score “cut-offs” for merit scholarships?
No. Virginia Tech does not publish specific GPA or test score cut-offs for scholarships. Academic performance is important, but scholarship decisions typically consider a combination of academics, the strength of the applicant pool, financial need, and available funding.
Are scholarships only for Virginia residents?
No. While some scholarships are restricted to Virginia residents, there are also scholarships available to out-of-state students. Many awards are based on a combination of merit and financial need rather than residency alone.
Are scholarships renewable every year?
Some scholarships are one-year awards, while others are renewable. Renewable scholarships usually require the student to maintain specific criteria, such as a minimum GPA, full-time enrollment, and Satisfactory Academic Progress (SAP). Renewal terms are outlined in your financial aid portal.
Remember that Virginia Tech makes a commitment to meet a certain level of need each academic year with a combination of federal, state, and institutional grants and scholarships—including college and departmental scholarships. The name and amount of a grant or scholarship may change, but as long as students continue to otherwise meet their eligibility requirements, the sum of gift aid will remain the same for 4 years—5 for Architecture students.
Scholarship Central & the Application Process
What is Scholarship Central?
Scholarship Central is Virginia Tech’s online portal for most university and donor-funded scholarships. Students complete the General Scholarship Application in Scholarship Central and may also complete specific college applications and other opportunities that require additional questions or materials.
How do I access Scholarship Central?
Prospective students access Scholarship Central through the applicant portal used in the admission process. Current students sign in directly at vt.academicworks.com using their VT credentials.
Do I need to be admitted to Virginia Tech before I can apply for scholarships?
No. You do not need an admission decision before completing the General Scholarship Application. Once you have applied for admission, you may log into your applicant portal and submit the application by January 22nd.
Does the General Scholarship Application cover both merit and need-based scholarships?
Yes. The General Scholarship Application in Scholarship Central is used to consider students for a wide range of scholarships, including awards that are merit-based, need-based, or a combination of both.
Do I need separate applications for each college or department?
Many departmental scholarships are connected to the General Scholarship Application in Scholarship Central. Some colleges or departments may have additional applications or requirements. Students should review Scholarship Central carefully and also check their college or department website for any extra steps.
What if I cannot log in to Scholarship Central?
First, confirm that you are using the correct path: prospective students must log in through the applicant portal rather than through the financial aid portal or Hokie SPA. If prospective students still cannot access Scholarship Central through their applicant portal, contact the financial aid office for assistance.
FAFSA, VASA, CSS Profile & School Codes
Do I need to complete the FAFSA to be considered for scholarships?
In most cases, yes. Many Virginia Tech scholarships have a need-based component, so the FAFSA (or VASA for eligible Virginia students not able to fill out the FAFSA) is required to determine financial need. Even families who do not expect to qualify for need-based aid are encouraged to submit the FAFSA, because most scholarship opportunities still require it.
Does Virginia Tech use the CSS Profile?
No. Virginia Tech does not use the CSS Profile. The university relies on the FAFSA (and VASA where applicable) along with the General Scholarship Application in Scholarship Central.
Which FAFSA should I complete, and when?
Students should complete the FAFSA for the academic year they plan to attend (for example, the 2026–2027 FAFSA for fall 2026 enrollment) as soon as it becomes available. Filing early and before Virginia Tech’s priority date helps ensure full consideration for need-based aid and scholarships.
What is Virginia Tech’s FAFSA school code?
When you complete the FAFSA, you will be asked to list the schools that should receive your information. You will select Virginia Tech by entering the university’s federal school code (003754) in that section of the FAFSA.
Why might someone be ineligible to submit the FAFSA?
Students who are not U.S. citizens or eligible noncitizens (such as U.S. permanent residents) cannot complete the FAFSA. Non-FAFSA-eligible Virginia residents should fill out a VASA.
Priority Dates & Timing
What is the priority date for scholarships at Virginia Tech?
The General Scholarship Application in Scholarship Central and the FAFSA should both be completed by Virginia Tech’s priority date of January 22nd annually. Meeting this priority date ensures maximum scholarship consideration.
Is the scholarship priority date the same for Early Action, Regular Decision, and transfer students?
Yes. The priority date applies to all students—Early Action, Regular Decision, and transfer—regardless of admission plan. Students do not need to wait for an admission decision to complete the General Scholarship Application or the FAFSA.
Is there an advantage to applying for scholarships before the priority date?
Yes. Applying early gives students time to complete all required questions carefully and allows recommenders, if needed, time to respond. However, students who meet the published priority date are considered equally; late applications may have limited opportunities.
Will I receive my admission decision before the scholarship priority date?
Not necessarily. Admission notifications and scholarship priority dates do not always align. Students are encouraged to submit the FAFSA and General Scholarship Application by the priority date even if they have not yet received an admission decision.
Special Populations & Situations
Are there scholarships specifically for transfer students?
Transfer students are considered for many of the same scholarships as incoming first-year students through Scholarship Central. In addition, some programs (such as the Virginia Community College Transfer Grant) are specifically for eligible transfer students. Transfer students should still complete the FAFSA and General Scholarship Application by the priority date. For a full list of eligibility requirements, please visit our transfer grant webpage.
How are athletic scholarships awarded and communicated?
Athletic scholarships are offered and managed by the Athletics Department. If a student is being considered for an athletic scholarship, the Athletics Department will communicate next steps, including any Grant-in-Aid documents. These awards are then coordinated with other financial aid.
How do ROTC or Military benefit awards interact with financial aid?
ROTC and Military benefit awards are coordinated with other university, state, and federal aid to ensure the total package remains within the student’s cost of attendance and complies with all regulations. Students should notify the financial aid office when they receive an ROTC or Military benefit so that their aid package can be updated correctly.
Are 529 plans considered when scholarships are awarded?
529 college savings plans are not considered a scholarship or grant. However, financial aid may need to be adjusted if the 529 covers all tuition and fees, and the student has financial aid that is specific to tuition and fees. Work with the 529 organization directly to send the Virginia Tech Bursar’s Office all the documentation of the funding coming in so adjustments can take place early if needed. Often, 529 funds are used later to help pay the student’s bill and are coordinated with other aid in accordance with federal, state, and institutional policies. For more information, visit the 529 webpage.
Outside Scholarships & How They Affect Aid
Can outside scholarships be “stacked” with Virginia Tech scholarships?
In many cases, yes. Outside scholarships can often be added on top of the aid Virginia Tech offers. University scholarships, however, generally do not stack on top of each other beyond the cost of attendance. If adjustments are required, loans and work-study are typically reduced before grants or scholarships.
Do private scholarships change my financial aid package?
Private or outside scholarships may result in adjustments to your overall aid if your total aid would otherwise exceed your cost of attendance or violate federal/state rules. In most cases, these scholarships first reduce loans or work-study rather than grants or institutional scholarships whenever possible.
How do I report an outside scholarship to Virginia Tech?
Students should report outside scholarships through the Outside Scholarship Reporting Form. Remember, providing documentation early helps ensure that the scholarship is applied to the student’s account in a timely manner and that the aid package remains accurate.