Dec 10, 2018  
2018-2019 Academic Catalogue 
    
2018-2019 Academic Catalogue

Financial Aid


 

The purpose of the VMI financial aid program is to provide financial assistance and counseling to cadets and prospective cadets so as to reduce the financial barriers that could hinder enrollment, retention, and success at VMI. Awards are based on the cadet's demonstrated financial need as determined through the Free Application for Federal Student Aid (FAFSA). The FAFSA is available on-line at http://fafsa.gov

Sources of aid at VMI include Federal Direct Loans, Federal Pell Grants, Federal Supplemental Educational Opportunity Grants, Commonwealth of Virginia Programs, need-based and merit based scholarships endowed through the VMI Foundation, Inc. and athletic scholarships provided by the VMI Keydet Club.

Federal Direct Loans are available regardless of need. Cadets must apply for financial aid by submitting the FAFSA and VMI Financial Aid Application before they can be considered for a Federal Direct Loan. Parents can borrow up to the full cost of their child's education through the Federal PLUS Loan Program. There must be a current FAFSA on file for the student before the parent can utilize the Federal PLUS Loan. More information on the Federal Direct Loan programs may be found at http://www.studentloans.gov

Normally, payment of all financial aid stipends is made in two installments, credited to the cadet's account in each semester of the school session. Statements provided on PostView will reflect credit for aid awarded. In the event of withdrawal before the end of the refund period, financial aid will be pro-rated. Renewal of financial aid is not automatic and cadets must apply for aid each year by submitting a completed FAFSA and the VMI Financial Aid Application by 1 March. The FAFSA may be completed on-line at http://fafsa.gov

ROTC Scholarships. For information on applying for such grants, see Reserve Officers Training Corps .

State Cadets. These are residents of Virginia who receive special appointments by the Board of Visitors, as specified in the Code of Virginia. The board shall provide financial assistance equal to a state cadet applicant's demonstrated need up to the Institute's prevailing charges for tuition, mandatory fees, and other necessary charges. State Cadetships, which are limited in number, are restricted to bona fide residents of Virginia, and applicants are required to show, on the basis of need, that it would be impossible to attend VMI without this financial assistance. Applications are made on forms which will be furnished by the Financial Aid Officer on request, and these applications should be submitted before 1 March of the year in which the applicant wishes to enter VMI.

Upon receiving a State Cadetship, the State Cadet must assume certain obligations to the Commonwealth of Virginia in return for the financial assistance awarded through the Cadetship. The Sections of the Code of Virginia setting forth provisions for State Cadetships and the obligations concerned may be obtained from the Financial Aid Office. (Applicants for a State Cadetship also need a recommendation from their State Senator.)

Institute Scholarship Program. Institute Scholarship opportunities are available each year to outstanding cadets with well-balanced high school records that include athletics and leadership roles. Normally, applicants should score at least 1300 (combined) on the SAT or at least 29 on the ACT, have a high school GPA of at least 3.6, and rank in the top 10 percent of their high school class. Selection is based on merit; financial need is not a criterion. Institute Scholarships are renewable annually as long as the recipient maintains a cumulative GPA of 3.5, membership in the Institute Honors Program, and a satisfactory conduct record. For information, please contact the Associate Dean for Academic Affairs, 210 Smith Hall.

How to Apply for Financial Aid

Prospective and returning cadets should complete the FAFSA and VMI Financial Aid Application by March 1st.

The forms to be completed are as follows:

  1. The Free Application for Federal Student Aid (FAFSA) which is mandatory and may be completed on the internet at http://fafsa.gov. All applicants should indicate on the form that VMI may have access to the needs analysis information by entering VMI's Title IV code - 003753. This form is available October 1st each year.
  2. VMI Financial Aid Application which is available online at http://www.vmi.edu/financialaid.

Satisfactory academic progress and good conduct standing must be maintained in order to receive financial assistance.

Final decisions on financial aid awards for incoming cadets are completed by mid-April and applicants normally are notified no later than early May. Returning cadet financial aid awards are completed once final grades are posted. Cadets are notified by mid-June.

Financial Aid Awards

Awards consist of grants, scholarships, and loans and are awarded based on demonstrated financial need and a listing of applicable federal and state programs is available on the VMI Financial Aid Office website at http://www.vmi.edu/financial aid.

Satisfactory Academic Progress Policy and Award of Federal Financial Aid

I. Purpose

The establishment of a Satisfactory Academic Progress policy at the Virginia Military Institute (VMI) is mandated by the Department of Education in order to be eligible for Federal Title IV aid.  All schools that receive these funds must have a reasonable policy for monitoring that progress.  The Department considers a satisfactory academic progress policy to be reasonable if it meets both the qualitative and quantitative criteria established by the school.

II. Definitions

  • Regular semester denotes fall term or spring term
  • Full-time student is enrolled in at least 12 credit hours per semester
  • Completed semester hours are hours successfully completed with a passing grade
  • Attempted semester hours are hours attempted and successfully completed or not successfully completed.  Attempted semester hours include incompletes, official withdrawals, unofficial withdrawals, unsatisfactory grades, failing grades, repeated and audited courses.
  • Title IV funds include Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Federal Direct Subsidized, Unsubsidized and PLUS Loans and Federal Perkins Loans.
  • Academic year reflects Summer Transition Program (first year cadets only), fall semester, spring semester and summer I and summer II.

III. Requirements

The eligible Title IV applicant at VMI must meet all of these minimum requirements:  qualitative, quantitative and maximum timeframe as defined below.  More detailed information is provided in the Academic Standards as published by the Registrar's Office and approved by the Deputy Superintendent for Academics.

  • Qualitative Requirement.  Minimum cumulative grade point average (GPA) per established academic standards.  See Academic Standards.
  • Quantitative Requirement.  Successful completion of 24 new semester hours each academic year and cumulative hours as provided in the Academic Standards.
  • Maximum Timeframe.  All cadets must complete program requirements within 10 regular semesters.

Notification.  VMI measures Satisfactory Academic Progress at the end of each spring semester.  The Financial Aid Office suspends Federal Title IV aid and notifies each cadet who fails to meet all three measures of academic progress (qualitative, quantitative, and maximum timeframe).

Appeal.  A cadet has the right to appeal the decision to suspend Title IV eligibility based on failure to meet minimum standards of academic progress.  The Financial Aid Office provides the appeal form and reviews each appeal promptly and notifies the cadet of its decision.  Cadets are limited to one financial aid appeal per cadetship.

Categories for appeal consideration include:

  • Medical (Injury/Illness of cadet)
  • Death of a relative (immediate family member)
  • Military service/mobilization
  • Other special circumstances

Reinstatement.  A cadet who is not making satisfactory academic progress and loses Title IV eligibility may attend VMI without benefit of Title IV aid if the cadet is otherwise eligible to enroll.  If the cadet's academic progress improves and meets the standards of satisfactory academic progress, eligibility for Title IV aid will be reinstated for the following regular term.

IV. Applicability

This policy shall apply to all enrolled cadets.

Virginia Military Survivors and Dependents Education Program

A state program for bonafide Virginia residents whose parents were killed or permanently disabled due to war service or who were taken prisoners of war or missing in action. Upon determination of eligibility by the Virginia Department of Veteran Services, tuition and mandatory fees will be waived. In addition, as funds are available, eligible students may receive a stipend to offset other educational expenses. Once declared eligible, the DVS will send VMI a letter certifying your eligibility and period of eligibility.  Report to the Financial Aid Office to have your enrollment completed.

For more information telephone the VMI Financial Aid Office at 540-464-7208 or call the Dept. of Veterans Services at 804-225-2083.

Federal Veteran Education Benefits

To receive benefits under the VA Chapter 33 Post 911, Chapter 35 Dependents and Survivor program, or GI Bill Chapter 1606 the student/parent must apply to the VA online. All eligible students must then bring their "Certificate of Eligibility" to the Financial Aid Office in order to process their claims. Returning eligible cadets must re-apply for this benefit each year through the Financial Aid Office.

For additional information on VA Education programs please visit the financial Aid office on our website http://www.vmi.edu/about/offices-a-z/financial-aid/ or telephone the VMI Financial Aid office at 540.464.7208