/etc/default/grub:

GRUB_CMDLINE_LINUX_DEFAULT="video=640x480 fb=false"
GRUB_GFXMODE=640x480
GRUB_GFXPAYLOAD_LINUX=640x480

To resize the virtual console during a tty login, enter the following in $HOME/.bash_profile:

if /usr/bin/tty | /bin/fgrep tty >/dev/null 2>/dev/null
then
        /bin/fbset -g 640 480 640 480 32
fi
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