This page contains detailed information about financial aid options and opportunities for on-Grounds study during the January term. If you receive grant aid during the fall and spring terms, be advised that funding for January term (and Summer Session) works differently, and you should read all the information on this page closely. If you have questions after doing so, please reach out to our office for guidance.
Students must have a completed 2024-2025 FAFSA on file and must have completed all items on their To Do List in the Student Information System (SIS).
Students must meet Satisfactory Academic Progress (SAP) standards. Students on SAP suspension will not be awarded financial aid for January Term until they are either meeting the SAP standards or they have successfully appealed their SAP status.
Students must be enrolled in a January Term course for 3 credit hours AND be enrolled in at least 3 credit hours for the spring 2025 term.
The on-Grounds cost of attendance for January Term includes tuition, books/supplies, and travel. Specifics may be found on the January Term website.
Follow this link to access the complete cost of attendance for the 2024-2025 academic year.
All students who have completed the 2024-2025 financial aid application process and have enrolled for a January Term course are automatically considered for grant funding to cover tuition for January Term, provided they also meet the eligibility requirements listed above. Not all students, however, will meet the eligibility requirements for grant funding. Those students who do not meet eligibility requirements will automatically be considered for student loan eligibility for January term. In short, no separate application is required.
Grants
Grant aid for January Term is limited and is based on financial need. Priority for grant funding is given to students based on their January Term enrollment date and is awarded in the order in which students enroll. Because January Term is not a required term, grant funding is not guaranteed even if a student is eligible for grant funding for the Fall and Spring semesters. Please note that January Term on-Grounds grant aid will not exceed $1,410 for Virginia residents or $5,208 for Non-Virginia residents.
Loans
SFS will award a student any Direct Loan eligibility that a student has remaining for the 2024-2025 academic aid year. The annual Direct Loan limits are listed on the chart below:
Annual Direct Loan Limits | ||
Academic Level in SIS | Dependent Student | Independent Student (or dependent student whose parent was denied a PLUS Loan |
First Year | $5,500 | $9,500 |
Second Year | $6,500 | $10,500 |
Third Year and above | $7,500 | $12,500 |
To determine the remaining Direct Loan eligibility available for January Term, view the financial aid offered for 2024-2025 in SIS. Compare the total amount of Direct Loans awarded for 2024-2025 to the limits listed on the above chart. If a student has remaining Direct Loan eligibility, the student will be offered his/her remaining annual eligibility for January Term (up to the cost of attendance).
Once Direct Loan eligibility is exhausted, the only other option for financial aid will be a Direct Parent PLUS loan (for undergraduate dependent students) or a private student loan.
Students who wish to apply for a private student loan for January Term should use January 2, 2025, through January 11, 2025, as the loan term. This loan term will alert Student Financial Services that the loan should be certified for January Term only.
Student Financial Services will begin awarding January Term financial aid starting soon after enrollment begins in November, and on a rolling basis thereafter. Students will receive an email notification once Student Financial Services has reviewed their financial aid eligibility. This email will detail how students are able to view their awards and outlines options to cover educational expenses if students are not awarded financial aid or the aid awarded does not cover their January term on Grounds cost of attendance.
- Payment for January term 2025 is due December 31, 2024.
- The scheduled disbursement date for January Term on-Grounds financial aid is Friday, January 3, 2024. Refunds of excess financial aid will begin later in the first week of January Term classes.
- Students are responsible for paying all charges by the above due date regardless of the financial aid disbursement date.
- Students that have been awarded January Term on-Grounds financial aid will have a credit for January Term on their student account.
- Students whose anticipated aid covers the January Term balance should not receive a financial hold.
- Students will not be dropped from their January Term on-Grounds course for non-payment; however, the financial hold will remain on their account until any past due charges have been paid.
- Please note that payment plans are not available for January Term.
Financial aid awards are based on the January Term cost of attendance, which includes tuition, books/supplies, and travel. To determine your out-of-pocket costs, subtract your January Term financial aid award in SIS from the January Term cost of attendance. If applicable, you may pay these costs with your own resources and/or apply for a Direct Parent PLUS Loan (for undergraduate dependent students) or a private student loan.
Example #1
You are a Non-Virginia resident who is enrolled for a January Term on-Grounds course. Your cost of attendance is $6,329. You received the JTerm Scholarship for $5,208 and a JTerm Direct Subsidized Ln 1 for $1,021. Your cost of attendance is covered with a combination of grants and loans.
Example #2
You are a Virginia resident who is enrolled for a January Term on-Grounds course. Your cost of attendance is $2,501. You did not receive a JTerm Scholarship, a JTerm Direct Subsidized Ln 1, or a JTerm Direct Unsubsidized Ln 1. To cover your cost of attendance, you must either pay the amount with your own resources, and/or apply for a Direct Parent PLUS loan (for undergraduate dependent students) or a private student loan.
To remain eligible for financial aid for January Term, students must be enrolled in a January Term course for 3 credit hours AND be enrolled in at least 3 credit hours for the spring 2025 term. If a student’s enrollment for January Term changes and/or a student does not enroll in at least 3 credit hours for the spring 2025 term, it is the sole responsibility of the student to notify Student Financial Services so that financial aid can be adjusted accordingly. A student will be responsible for repaying any amount of excess aid awarded if aid has disbursed and a student later makes enrollment changes that impact aid eligibility for January Term.
Information regarding the January Term on-Grounds schedule changes and refund policy is available on the January Term website.