VMI is more than a school – it is a community built to support the Corps of Cadets along their leadership journey.

Parents are a crucial part of that community from the moment a student matriculates until he or she crossed the stage at graduation – and in the decisions and planning for attending and affording VMI. Financial aid is an area where parents can offer help not only with funding, but also with the process of applying for and accepting aid, researching scholarships, and exploring how to start planning early through state and private programs. 

Our office is available to answer your questions about the financial aid process and available resources.

TOPICS AND TOOLS

Free Application for Federal Student Aid (FAFSA) 

StudentAid.gov has a wealth of information for parents on preparing for and completing the FAFSA as well as a Who’s My FAFSA Parent? wizard for families who may need guidance on dependency status. 

Federal PLUS Parent Loan 

The Federal Parent Loan for Undergraduate Students (PLUS) is available to parents of undergraduate students in amounts up to the full cost of attendance less any financial aid. PLUS loans require that students enroll in a degree program at the half-time level or above. Borrowers commence repayment immediately upon disbursement and have up to 10 years to repay.  Be sure to review recent updates to federal aid compiled by our office to keep up with the latest changes.

PLEASE NOTE: VMI highly discourages families who are borrowing PLUS loans to not automatically request the full amount as students will likely run out of funds before graduation. The max is $16,250 annually (which is below the annual limit) to ensure you have PLUS funds for all four years of your cadetship (not exceeding the aggregate limit).

529 Savings Plans 

A 529 savings plan is a type of investment account that can be used for education savings. These accounts can be opened by almost anyone, there are no income limits, and anyone can contribute. 529s are highly flexible, allowing you to use your savings at in-state, out-of-state, public or private schools. Invest529 is the program in Virginia and our office has put together a guidance page to help interested students and families explore this option. 

Authorized Bill Payer/Proxy User 

Cadets at VMI may designate parents (or other individuals) as authorized bill payers or proxy users. This allows another individual to make payments with the VMI Post View system. More information is available from Cadet Accounting. 

Parent Access to Student Records and Financial Aid Information

In accordance with the Family Educational Rights and Privacy Act of 1974 (FERPA), the Financial Aid Office will not disclose any student’s financial aid information to parents unless the student provides written consent through our FERPA form. 

 

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Is your child considering applying or already a cadet? Here are some important resources about life at VMI: