Qualified students who file the free application for federal student aid (FAFSA) and the VMI Statement of Educational Purpose may qualify for a wide range of federal grant and loan options based on need.

The Office of Financial Aid will indicate each student's eligibility for the federal direct loans on their Financial Aid Award. Students who choose to borrow a Federal Direct Student Loan must complete a Loan Agreement (Master Promissory Note), Entrance Counseling, and Annual Student Loan Acknowledgement which can be done online at the Federal Student Aid website. The Loan Agreement (Master Promissory Note) and Entrance Counseling only need to be completed the first year that students borrow the Federal Direct Student Loan.

Loans

Student Federal Direct Loans

The Federal Direct Loan Program has two types of loans: Subsidized and Unsubsidized. The Subsidized Loan is need-based (based both on the FAFSA results and how much other aid a student is receiving) and there is no interest while the student is in school or a grace period. The Unsubsidized Loan is not need-based and the interest begins when the loan is disbursed to the student’s account. Both loans have an origination fee that is deducted when the loan is disbursed to the student’s account. It is not uncommon for a student to have a mix of Subsidized and Unsubsidized Loans.

Parent PLUS Loans

Parents of dependent students can take out loans to supplement their children’s aid packages. The federal Parent Loan for Undergraduate Students (PLUS) lets parents borrow money to cover any costs not already covered by the student’s financial aid package, up to the full cost of attendance. PLUS loans have a fixed interest rate and an origination fee that is deducted when the loan is disbursed to the student’s account. Repayment begins after the loan is fully disbursed for the year, and the repayment term is up to 10 years. Parents also need to complete a Loan Agreement (Master Promissory Note) and Annual Student Loan Acknowledgement before the money can be disbursed to their student’s account. To apply for a Federal PLUS Loan and complete the Loan Agreement (Master Promissory Note) and Annual Student Loan Acknowledgement please visit the Federal Student Aid website.

Complete Loan Agreement (Master Promissory Note), Entrance Counseling, and Annual Student Loan Acknowledgement

Students with federal loans are required to complete a Loan Agreement (Master Promissory Note), Entrance Counseling, and Annual Student Loan Acknowledgement before the loans can be disbursed to their accounts. The Loan Agreement (Master Promissory Note) and Entrance Counseling only need to be completed the first year that students borrow the Federal Direct Student Loan. Visit the Federal Student Aid website for more information.

Acceptance or Rejection of Loans

Students offered a loan as part of their financial aid award, may accept or reject offers in their Post View account.

If VMI determines the applicant does not meet the criteria for need-based financial aid at VMI, the cadet, and/or parents may apply for the Federal Direct Unsubsidized Loan or the Federal Parent PLUS Loan. The cadet will be notified by mail if he/she does not meet the criteria for need-based financial aid.

Grants and Scholarships

For more information on grants and scholarships, visit the Federal Student Aid webpage on grants

Pell Grant  

Federal Pell Grants are awarded to undergraduate students who display exceptional financial need and have not earned a bachelor’s, graduate, or professional degree.  This grant, unlike a loan, does not have to be repaid.  The award is calculated using the expected family contribution (EFC) from the FAFSA.

Iraq and Afghanistan Grant

Established for non-Pell eligible children of military personnel killed as a result of service in Iraq or Afghanistan after September 11, 2001.  To qualify, the student must have been less than 24 years of age or enrolled at least part-time at an institution of higher education at the time of the death of their parent or guardian. 

Children of Fallen Heroes Scholarship

For students who are otherwise Pell-eligible which would allow students who are younger than 24 years old or enrolled at an institution of higher education at the time of death of a parent or guardian who died in the line of duty as a police officer, firefighter, or other public safety officer to receive the maximum Pell Grant Award.   Documentation will be required. 

Supplemental Educational Opportunity Grant

For undergraduates with exceptional financial need, normally reserved for non-Virginia cadets. Just like the Pell grant the FSEOG does not have to be repaid.