If you’re looking for a college in the state of Virginia, then you may want to take into account that there are many different financial aid programs available. With an average federal and private student loan debt of $37,098, Virginia ranks fourth-highest in the nation for average student loan debt. Luckily, need-based financial aid programs like the Virginia Guaranteed Assistance Program and the Virginia Commonwealth Award help undergraduate residents attend college.
Want more information on these types of loans? Please read our blog post about how to get a VA Loan!
If you’re having trouble making loan payments, don’t worry! We also have a blog post about student loan debt forgiveness programs. Check it out to see if you qualify.
In Virginia, the average student loan debt is $37,09810. This may seem like a lot, but many different financial aid programs are available to help undergraduate residents attend college. These programs include the Virginia Guaranteed Assistance Program and the Virginia Commonwealth Award.
Student loan debt in Virginia’s largest counties
– Chesterfield County: $42,592
– Prince William County: $41,023
– Henrico County: $40,713
– Fairfax County: $39,021
Virginia State Loan Repayment Program
The Virginia State Loan Repayment Program (VaSLRP) is a need-based financial aid program that helps Virginia residents repay their student loans. The program awards up to $50,000 per year in loan repayment assistance to eligible health professionals who work in high-need areas of the state.
To be eligible for the VaSLRP, you must:
– Be a Virginia resident
– Have graduated from an accredited Virginia college or university with an associate’s degree, bachelor’s degree, graduate degree, or professional degree in a health care field
– Work as a full-time employee in a high-need area of the state for at least two years
– Have Virginia student loans that total more than your annual salary
The Virginia State Loan Repayment Program (VaSLRP) awards up to $50,000 in loan repayment assistance per year. If you are interested in this program or have any questions, contact the Virginia Student Assistance Office by visiting their website. You can also call Virginia’s Student Loan Hotline at (877) 303-3880.
You can find Virginia student loan debt statistics for Virginia’s largest counties here.
How to refinance Virginia student loans
If you’re looking for a refinance, contact us to see if you can lower your monthly payments and save money on interest. We’llWe’ll also show you how to refinance loan forgiveness programs that may help reduce your overall student debt!
Refinancing is the process of taking out one new loan to replace several existing loans. Interest rates and repayment terms vary by lender, so it’s essential to compare refinance options and find a plan that works best for you.