Financial Aid

Students in the Pamplin MBA may be considered for both merit-based and need-based financial aid. Students should apply for financial aid by February 1. Decisions about awarding financial aid are separate from admissions decisions and are generally made later than admissions decisions.

  • Merit-Based Financial Aid

Merit-based financial aid may consist of an instructional fee scholarship, a waiver of out-of- state fees, or a named fellowship. Merit-based financial aid is awarded by the Pamplin Graduate and International Programs Office on the basis of academic background, GMAT score, work experience, skills, and references. Applicants who wish to be considered for merit-based financial aid must submit the "MBA Application for Financial Assistance."

Some students are given the opportunity to work as graduate assistants within the university. These assistantship opportunities require the student to perform such duties as helping faculty with class administration or research for 10 hours a week. Students with assistantship positions are often awarded instructional fee scholarships to cover one-half of the full-time tuition and a waiver for all out-of-state fees.

  • Need-Based Financial Aid

The Office of Scholarships and Financial Aid administers the university's need-based programs of assistance. Awards are based primarily on demonstrated financial need; however, academic record and test scores are also used to ensure that funds are distributed to the most deserving students. The MBA Office does not administer any need-based aid.

To be considered for need-based awards, a student must submit a financial aid form to the Office of Scholarships and Financial Aid for the appropriate year. Forms can be obtained through the Office of Scholarships and Financial Aid or filled out online at http://www.finaid.vt.edu/. Students are encouraged to have their forms submitted to the Office of Scholarships and Financial Aid no later than February 1. The university will advise applicants of their financial aid awards by August 1.

MBA students may be eligible for the following types of need-based financial aid:

  • Stafford Loan

The Stafford Loan Program enables students to borrow directly from Virginia Tech to finance their expenses. Graduate students are eligible for $8,500 a year, with an aggregate limit of $65,500 (including undergraduate borrowings).

  • Perkins Loan

The Perkins Loan is a long-term, low-interest federal loan made by the university to needy students. Yearly award amounts depend on the amount of money the school has available. Graduate students may borrow up to an aggregate limit of $30,000 (including undergraduate borrowings).

  • College Work-Study Program

To be eligible, students must demonstrate need and be in good academic standing.

For more information on need-based financial aid, please contact: Virginia Tech Office of University Scholarships and Financial Aid - School Code: 003754, 200 Student Services Building (0222), Blacksburg VA 24061. Phone: (540) 231-5179 or 1-800-278-7392;  Fax: (540) 231-9139 ; http://www.finaid.vt.edu/

Please visit http://www.finaid.vt.edu/types_of_aid/loans/index.php to examine answers to many frequently asked financial aid loan questions. Also note that all financial aid questions should be directed to:

Office of the University Bursar
150 Student Services Building
Blacksburg, VA 24061

Phone: 540-231-6277
Email: bursar@vt.edu
Fax: 540-231-3238