Financial aid awards for incoming first years are mailed out in May/June. What you get obviously depends on your financial status and that of your parents. The maximum scholarship now for need based aid is about $16,000/year I think (that is from UVA, not other sources). If you have already been accepted and need more info I would call the financial aid office. I don't know exactly how the merit-based scholarships work but the need based aid is excellent, compared with the other schools I was accepted into when I applied.
Hope that helps
I appreciate the reply, from what I was told at the financial aid meeting, they are extremely good at meeting demonstrated need.
I am curious, however, about the non-need based scholarships that exist. I understand that they require no separate application, but am unaware of the time frame/method of notification. I thought that someone on this site would have likely been offered merit based awards (either the tuition differential or general) at UVA in the past.