Financial Aid Changes In Virginia

(Richmond)- Virginia is changing the way it calculates need-based aid and distributes it to public four-year institutions.  The change comes as the demographics of students across the nation are shifting with more students over the age of 25 working while in college or parenting. With these changes and rising tuition costs, more students demonstrate a financial need but in Virginia, more students are qualifying for a zero-dollar expected family contribution from the federal government.  The council has recommended that the state increase funding for aid by 45-million dollars over the next biennium.  Currently, the state contributes about 223-million dollars every other year for aid.