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U.Va. low-income student aid to include loans

7:57 AM, Aug 8, 2013   |    comments
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CHARLOTTESVILLE, Va. (AP) - The University of Virginia is adding loans to its financial-aid program for low-income students.

The change will require students participating in the AccessVa program to take out loans for costs up to $7,000. They then would qualify for grants.

Previously, the program met 100 percent of low-income students' need through grants.

U.Va. President Teresa Sullivan says in a letter to students and faculty that there will be a four-year cap on loans of $28,000. In-state students pay lower tuition rates so their total debt is expected to be about $14,000.

Media outlets report that U.Va.'s Board of Supervisors voted last weekend to roll back the program's "no loans" policy.

The change won't affect current students. It will be phased in beginning in the 2014-2015 academic year.

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