Funds for the Future
General Information
Over the next six years, Virginia Tech's "Funds for the Future" program seeks to accomplish two objectives: (1) Protect certain groups of low-income undergraduates from tuition and fees increase, (2) Reduce unmet need for certain groups of low income undergraduates. By doing this, Virginia Tech hopes to increase the affordability for students to attend Virginia Tech by increasing instructional funding for student aid.
Eligibility Requirements/Application Process
In order to be considered for this program, undergraduate students must complete the FAFSA (with correct signatures) by March 11 and qualify for financial aid.
Main features of the "Funds for the Future" program are shown in the tables and summarized below.
Main Features of the Funds for the Future Program
| Family Income | Reduce Unmet Need | |
| Group A | $0-$29,999 | 1.00% each year |
| Group B | $30,000-$49,999 | 0.50 % each year |
| Tuition and Fee Increase Protection | ||
| Group A | $0-$29,999 | 100% |
| Group B | $30,000-$49,999 | 70% |
| Group C | $50,000-$74,999 | 30% |
| Group D | $75,000-$99,999 | 10% |
| Family Income | Reduce Unmet Need | |
| Group A | $0-$29,999 | 1.00% each year |
| Group B | $30,000-$49,999 | 0.50 % each year |
| Tuition and Fee Increase Protection | ||
| Group A | $0-$29,999 | 60% |
| Group B | $30,000-$49,999 | 40% |
| Group C | $50,000-$74,999 | 30% |
| Group D | $75,000-$99,999 | 20% |
Reduce Unmet Need Component
All undergraduates who qualify for financial aid and fall into Group A or B will have unmet need reduced by 1% and .5% respectively. The unmet need is computed by subtracting the Expected Family Contribution and the total financial aid awarded from the total cost of attendance.
Tuition and Fees Increase Protection
An example of Funds for the Future's tuition and fees increase protection for an in-state student is shown below. This example shows the amount of protection assuming a $500 increase of tuition and fees.
An example of Funds for the Future's tuition and fee's increase protection for an out-of-state student is shown in the graphic below. This example shows the amount of protection assuming an $800 increase in tuition and fees.
