No money for college? No problem

by Heather Hayes
For Virginia Business
August 2005

There used to be plenty of Pell grants and student loans for high school graduates with the grades but not the cash to attend a top university. But as tuition costs continue to climb and government funding for financial aid drops, the gap is now leaving many low-income students out in the cold.

The University of Virginia, however, is making an effort to close that gap — and is challenging other top institutions to follow its lead. AccessUVA, its 1-year-old financial-aid program, will provide a free four-year education to nearly 200 economically strapped freshmen this fall. That includes tuition, fees, books, room and board, and even personal spending money. “We set out to increase the number of low-income students at the University of Virginia, and we’re doing it,” says John A. Blackburn, dean of admissions.

AccessUVA helped 70 students last year. For this year, U.Va’s Board of Visitors upped the annual financial commitment to more than $20 million. Counting the latest grant recipients, the program has helped increase the university’s percentage of students with low-income backgrounds from 4 percent to 6.2 percent. About 70 percent of this year’s recipients are Virginians, with the largest group coming from Northern Virginia.

To qualify for the grants, students must meet the university’s standards of academic achievement and come from a family whose annual income is no more than double the federal poverty level.