Financial Aid For Your Computer

While the computer requirement imposes an additional financial obligation on students, there are several means to make it affordable and practical for students to own a computer. New freshmen and new transfer students at the freshman level will have a one-time computer purchase allowance added to their Cost of Attendance (COA), which will increase eligibility for financial aid. The allowance covers the minimum VCU computer specifications and is adjusted annually (for 2007-2008, it was $1,210). While the allowance increases eligibility for funds, there is no guarantee that there will be increased financial aid funds to cover the computer expense.

Students should plan their computer needs carefully, because this allowance is for a one-time-only purchase. Undeclared students relying on financial aid should look into the requirements of all of the the programs they are considering to determine if those programs have specific computer requirements.  Students will need to make sure they will be able to meet those requirements if they choose that program.

For parents of dependent students, the Federal Direct PLUS Loan is the most common type of financial aid used to meet educational costs, including computer costs, not covered by the financial aid funds awarded to the student. If the parent is not approved for a Federal Direct PLUS Loan due to adverse credit history, the student may apply for an additional Federal Direct Unsubsidized Loan. Some manufacturers who sell directly to consumers (such as Lenovo, Apple and Dell) offer financing plans when you purchase your computer (you will generally have to qualify for these plans as you would for a credit card). You can also check with your own lending institution for low interest, home equity or deferred loans.

To determine if there are any sources of financial aid available, students should speak with a financial aid counselor at the VCU Office of Financial Aid before making computer purchase commitments. The VCU Office of Financial Aid can be contacted by phone (804.828.6669) or email. More information about computers and financial aid is available here.

No student will be denied access to VCU if they cannot afford a computer. If you do not own a computer when you come to VCU, computer labs are available; however, they are not a substitute for owning your own computer, and not owning a computer is not an excuse for not completing work on time.