University of Virginia Library

Federal Funds Ease Burden
Of Financial Aid For Students

The financial aid squeeze which many
public colleges and universities across the
nation are beginning to feel is not
expected to affect the University
significantly next fall.

"A 15 to 20 per cent increase in
federal funds which has been approved by
Region III of the Department of Health,
Education and Welfare should allow us to
meet current needs of all students
requiring financial aid," says Edgar A.
Eldridge, director of the office of
financial aid to students at the University.

"However, the actual dollar amount of
federal funds the University will receive for
loans, educational opportunity grants and
work-study programs depends on
appropriations yet to be authorized by
Congress," he adds.

While the picture for the fall is not yet
complete, the office of financial aid to students
under the supervision of the University's
committee on scholarships presently
administers more than $2 million in University,
state and federal funds to some 1,900 students
in need.

Nearly 1,400 students receive some $1.2
million in scholarships, 177 have received
$110,000 in work-study funds and 932 have
received some $600,000 in loans. The average
amount received by a student on a scholarship
this year is $884, $649 through work-study and
$725 per year in loans.

"The number of applications for financial
aid and the amount requested has increased
steadily in recent years while State and
University scholarship and loan funds have
remained relatively stable. We have met the
demand in large part through increases in
federal funds," says Mr. Eldridge.

The amount of aid a student receives is
determined by the Office of Financial Aid on
the basis of a budget of estimated costs for a
year minus the amount a student and his family
are able to contribute.

The Parents Confidential Statement filed
with College Scholarship Service in Princeton,
N.J., and a University financial application are
used as a basis for estimates of what the family
can provide for education, according to Mr.
Eldridge.

Virginia residents are expected to require
$2,020 per nine-month session to cover various
costs and non-Virginians, $2,700. These figures
include tuition and required fees (which in the
College of Arts and Sciences is $537 for
Virginians and $1,212 for non-Virginians) room
and board, books, laundry and travel.