CHARLOTTESVILLE, Va. (AP) - University of Virginia president Teresa A. Sullivan wants to reduce a financial aid program's reliance on school funding by increasing philanthropic support.
Sullivan tells The Daily Progress that AccessUVa will be a major focus in future university fundraising efforts. She says money raised by the campaign should be enough to start an endowment to support the program.
Sullivan recently donated a 2 percent pay raise to support AccessUVa.
AccessUVa began in 2004 and cost the university $11 million in the first year. The cost rose to about $40 million in 2012.
In August, the university's Board of Visitors ended a "no-loans" policy that had been in effect since its beginning. The board voted to replace $7,000 in grant aid for the lowest-income students with loans.
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