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Fall photo of Ferrum College campus.

Cost and Aid

Your Dream Degree Is Possible

Education is an important investment in your future, but published prices for tuition and expenses can make your college dreams seem out of reach. As Virginia’s Opportunity College, Ferrum is committed to affordability.

Financial aid has a big impact on the bottom line, and many people don’t realize just how much they can reduce a school’s sticker price with the help of grants, scholarships, work-study opportunities, and loans. The Ferrum College Financial Aid staff are here to help you and provide your full financial aid package.

Beginning the financial aid process early will help you get the information you need to make an informed decision about college affordability.

ferrum college is now more affordable than ever

$10,000 Tuition Reduction for Fall 2024

As Virginia’s Opportunity College, Ferrum College announced a $10,000 tuition reduction beginning in fall 2024. Combined with The Panther Promise and state, federal, and institutional aid, Ferrum College is proud to be among the most affordable colleges in Virginia.

How to Apply for Financial Aid

Your Ferrum College financial aid package is just a few steps away

1. File your FAFSA

Apply online at using school code:
The priority deadline to file: May 1.

2. Review your report

Once your FAFSA has been processed, you will receive a Student Aid Report (SAR) that you can use to determine your actual cost to attend Ferrum College.

3. Complete Final Steps

Log in to your Ferrum College account, then select the Self Service app to review your financial aid award and complete any additional required documents.

The Panther Promise
Free Tuition for In-State Students

Ferrum College is offering free tuition for qualifying in-state students. Fill out your FAFSA to find out if you qualify today!

Qualifying students are recipients of the Virginia Tuition Assistance Grant (VTAG) who have estimated family contribution of $2,900 or less and choose to live on campus.

Types of Aid

Financial aid comes in many forms—and we’re here to help you connect with as many of them as possible. Here’s a breakdown of the different types of aid you could qualify for:


Loans are a common way to pay for college. Repayment is required, but terms may vary by loan type.


Scholarships are a form of financial aid that does not need to be repaid. They may be awarded in recognition of academic excellence, cultural identity, or other criteria.


Grants are another form of financial aid that does not need to be repaid.


Federal work-study positions allow you to offset college costs through part-time employment, on or off campus.

Veterans Benefit

Veteran’s benefits may be available for active-duty or retired military students, or dependents of military personnel.

Ferrum College student Tripoom Jala standing at Adams Lake on campus

Other Opportunities

Since Ferrum College is proudly affiliated with the United Methodist Church, many scholarship and loan opportunities exist for those students who are active members.

Tools & Resources

Calculate your cost to attend Ferrum College after receiving financial aid.