MBA - Tuition & Financial Aid - Cost of Attendance

*Only students enrolled in the UVA Student Health Insurance plan will be billed for this expense. 

**The figures for room, board, and miscellaneous personal living expenses included in your COA are only for the 9 months you are enrolled in classes. Note: You are not eligible to receive financial aid to cover expenses during periods of non-enrollment (e.g., before the start of your program and/or during the summer months).  

***Federal loan fees are only included for borrowers of Federal loans.

****The total COA figures listed above are estimates since the 2025-2026 health insurance figure is not available. Note: Except for the student health insurance expense, all other 2025-2026 COA figures listed above are finalized. 

International students using these figures need to allot an additional $7,000 for a spouse and $4,000 for each additional dependent on the I-20; family members cannot be included in the cost of attendance when applying for a loan.

What Does Financial Aid Cover?

Financial aid may be utilized to cover the full Cost of Attendance (COA) for the program. The maximum amount of financial aid (including scholarships, loans and any other known resources) for which you are eligible is limited to the total COA. The total COA varies based on your residency status and if you will be receiving federal loans. Note: You cannot receive financial aid (including student loans) during periods of non-enrollment (e.g., before the start of your program and/or during the summer months).

Direct costs include:

• Tuition and fees billed each semester
• Darden MBA case fees
• Health insurance, if purchased from the University
• Darden Meal Plans, if purchased from Darden Dining
• University Housing charges, if living in student housing

Indirect costs include:

• Room
• Board
• Miscellaneous personal living expenses
• Computer
• Transportation
• Federal loan fees, if federal loans are borrowed

You must apply for financial aid on an annual basis. Your current financial aid application only covers the COA for the First Year (2025–2026 academic year) of your program. Mark your calendar to reapply for financial aid in the spring for your Second Year (2026–2027 academic year) COA.

Financial aid funds accepted in excess of the direct costs will be refunded to you by the University at the beginning of each semester. Refunds are processed in one of two ways: 

Direct Deposit:  

• If you have previously signed up for direct deposit for your refunds, you should receive an email confirmation of the direct deposit amount from Accounts Payable at the University and the funds should arrive via Automated Clearing House (ACH) in your designated bank account within 2-5 business days after the effective date listed in the Student Information System (SIS).
• Please note: If an ACH/direct deposit fails for any reason, Accounts Payable reissues the refund as a paper check to the mailing address on record in SIS. Please allow at least 5-15 business days from the date of reissue for the check to arrive. Reasons for ACH/direct deposit failure include but are not limited to: "Bank Account Closed" or "No Bank Account/Cannot Locate" or "Insufficient Bank Details in SIS."

Paper Checks: 

• If you have not signed up for direct deposit, a paper check will be issued to the current mailing address that you have on file in SIS. Please allow at least 5-15 business days for the check to be received at your Mailing Address.
• Requests for replacement refund checks will not be accepted until 30 calendar days after the date the check was issued.