MS-MIT & MS in Business Analytics (MSBA)

All fellowships, assistantships, and other grants and scholarship awards available to graduate students are administered by the various University departments or schools. Students seeking financial aid should apply directly to their department or school for assistance first before considering Federal financial aid programs and alternative loans.

  • In general, graduate students may receive up to $20,500 in Federal Direct (Unsubsidized) Student Loans for each loan year. The award period for this program is Fall 2024/Spring 2025 (Loan Year One) and Summer 2025 (Loan Year Two). 
  • Students may receive a Graduate PLUS loan or a private loan for up to the difference between the student’s budget and any other resources including Direct Student Loans.
  • Please note that the total of all financial assistance, including departmental awards, tuition remission and employer contribution, cannot exceed the estimated Cost of Attendance Budget.

How To Apply

  1. Apply for a U.S. Department of Education Federal Student Aid ID (FSA ID) if you don’t already have one. Your FSA ID will allow you to electronically “sign” financial aid applications and federal loan promissory notes. Apply for an FSA ID online at
  2. Complete the Free Application for Federal Student Aid (FAFSA) for 2024-2025. MS/MIT and MSBA students must also complete the 2025-2026 FAFSA after it becomes available to be eligible for Summer 2025 financial aid. The FAFSA is available online in both English and Spanish, and the University of Virginia's school code for the FAFSA is 003745.   
  3. Some students will be notified by e-mail or in writing that they have been selected for verification. If you have been selected for verification, our office is required to verify the information you reported on your FAFSA. Additional instructions will follow if you have been selected.
  4. Do NOT submit copies of your most recent tax documents unless you are specifically instructed to do so by our office.

What Happens Next?

Your FAFSA will be sent to us electronically. We will review it, and if necessary, request additional documentation to verify your information. Once we receive and review all of your information, we will post your award information on SIS, detailing your financial aid package.

Receiving Outside Scholarships

If you anticipate you will receive outside scholarships, you must notify us when completing the University Financial Aid Application.

Non-University awards include all scholarships and grants awarded by agencies other than our office, such as Tuition Benefits/Reimbursements, and any scholarships or grants awarded by churches, fraternities & sororities, corporations, professional or civic organizations.