Virginia § 23.1-618 - Loans to students
Full text of Virginia Code of Virginia § 23.1-618 — Loans to students, with citation guidance and answers to common questions.
§ 23.1-618. Loans to students
A. Any institution may make loans from its fund only to needy students who might be unable to attend such institution without such loans and who are duly admitted into degree or certificate programs at the institution. Such loans shall be made upon such terms and according to such rules as may be prescribed by the governing board of the institution.
B. In any one academic year, no student shall receive a loan from the fund of an institution that would result in such student owing a net outstanding amount at the end of that year in excess of the tuition and mandatory fees charged by the institution.
C. The rate of interest charged on loans to students from a fund is three percent annually.
1978, c. 745, § 23-38.10:3; 1991, c. 590; 2016, c. 588.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 23.1-618
What does Code of Virginia § 23.1-618 cover?
Section 23.1-618 ("Loans to students") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 23.1-618?
A common citation format is "Code of Virginia § 23.1-618" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 23.1-618 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.