The University of Virginia on Saturday allocated $100 million to support its new student scholarships program for undergraduate and graduate students. The step has been taken to ease access to affordable education for students who are in financial need.
The new scholarships will be also given on the basis of merit through UVA’s Bicentennial Scholars Fund.
“In order to build a diverse, vibrant community at UVA, we need to make it easier for talented students to come here, regardless of their ability to pay,” UVA President James E. Ryan said. “These scholarships created through the Bicentennial Scholars Fund will make a difference as we work to serve the commonwealth and beyond.”
The university raised record funds of $556.5 million in 2018 fiscal year to support its Bicentennial Scholars Fund and a newly-created Bicentennial Professors Fund.
“The incredible response of those who support access and affordability at the University of Virginia helped us realize the full potential of the initial allotment for the Bicentennial Scholars Fund in remarkable time,” John A. Griffin, chair of the Board of Visitors Advancement Committee said.
“The scholarships created through this program will change lives for the better for decades to come,” he added.
The University has already committed to meet 100 percent financial need of its undergraduate through its AccessUVA financial aid program.