The College of William & Mary administers three forms of financial aid: Federal and State Grants, Federal Work Study (FWS), and Federal Family Educational Loans. Upon receipt of your Free Application for Federal Student Aid (FAFSA), we will put together a personal aid package based on your eligibility.

Federal Grants

Pell Grant - Pell Grants are entitlements provided directly by the federal government. They are awarded only to undergraduate students who have not earned a first bachelor’s degree. The Pell Grant is need-based and awarded using the family’s Expected Family Contribution (EFC) as determined by the FAFSA. The amount awarded is also based on the number of credits the student is taking (full time vs. part time).

Supplemental Educational Opportunity Grant (SEOG) - SEOGs are federal funds provided by the school to students with exceptional need. First consideration is to students who are eligible for a Pell Grant.

 

State Grants

Virginia College Scholarship Assistance Program (CSAP) - CSAP is awarded to Virginia residents who have exceptional financial need. Recipients must enroll for a minimum of 6 credit hours per semester and meet our FAFSA prority filing deadline. Students who have received a first bachelor's degree are NOT eligible to receive a Commonwealth grant. Students must maintain satisfactory academic progress.

Virginia Commonwealth Grant - The Commonwealth Grant is a state-funded grant that provides assistance to undergraduate Virginia residents. Recipients must enroll for a minimum of 6 credit hours per semester and meet our FAFSA prority filing deadline. Students who have received a first bachelor's degree are NOT eligible to receive a Commonwealth grant. Students must maintain satisfactory academic progress.

Virginia Guaranteed Assistance Program (VGAP) - VGAP is a state-funded grant that provides assistance to undergraduate Virginia residents.

VGAP Requirements:

• Full-time enrollment
• Meets our FAFSA prority filing deadline
• In-state resident
• Dependent student
• Graduated from a Virginia high school with a high school GPA of 2.5
• Has need

VGAP Awarding Information

• Amount is determined each year based on fund availability
• May be renewed up to three additional years by meeting the following criteria:
  • In-state residency
  • 2.0 minimum GPA
  • Financial need
  • Full time continuous enrollment (excluding summer terms)
• Dependent student
• Must maintain satisfactory academic progress
• Student must be enrolled full time

 

Institutional Grants

W&M offers grant assistance from approximately 300 different funds that are part of the institution's endowment, unrestricted fund, and gift accounts. Because there are so many different funds, there is frequently a change from your initial award letter. Your total amount of grant award will remain the same.

Gateway William and Mary

A new educational gateway is open for Virginia students. Gateway William & Mary, an innovative financial aid program, puts a quality education within the reach of all Virginians — regardless of their ability to pay.

Designed for women and men whose academic promise exceeds their economic means, the program provides a combination of institutional, state, and federal grants for low- and middle-income students who have the desire to attend a world-class university without incurring debt.

Gateway starts where ordinary financial aid programs end. Participants will not have to take out need-based student loans. Instead they can graduate debt-free to move on immediately to graduate school, professional education or a fulfilling career. Gateway recipients may be given the option to take out Unsubsidized Stafford Loans to help defray the Estimated Family Contribution, which cannot be covered by grant funds.

Most of your questions about the Gateway Program can be answered by reading our FAQ.

 

Federal Work-Study Program

FWS provides jobs for undergraduate and graduate students with financial need, allowing them to earn money to defray the cost of their education. The program encourages community service work and work related to your course of study. Students may work up to twenty hours per week while they are attending school. The FWS wage will be at least the current federal minimum wage, but it may be higher, depending on the type of work and and the skills required. The total FWS award depends on when the student applies, their level of need, and the funding level of the school. Funds not earned through work-study will not be made up from another program (i.e., you cannot have your FWS funds replaced with grant money). Generally, in-state students are not awarded with FWS.

There are many other employment opportunities for students who are not awarded FWS. Colonial Williamsburg and related businesses do their own hiring and sometimes will list openings with the Financial Aid Office. Students are encouraged to come by or access the student employment homepage.

 

Loans

Loans are funds that must be repaid by the student or, in the case of the Parent PLUS program, by the parent. The interest accrued and the repayment schedule depends upon the type of loan as well as the lending institution. The College of William & Mary awards the following types of federal loans: Perkins Loans, Stafford Loans, Parent PLUS Loans, and Grad PLUS Loans. Private student loans are also available.

Please view the Educational Loan Information page for more information.