University of Richmond Financial Aid and Scholarships
Students Receiving Aid
72%
Total Aid Amount
$81.760M
Financial Aid Official Website
financialaid.richmond.edu/
Among them are scholarship programs such as Army ROTC Scholarship, Bonner Scholars, Carnegie Dartlet $10,000 Scholarship, and Community Service Scholarship for Multicultural Students. Notably, 64% of the students at University of Richmond get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $7,357,114. One can visit UR's financial aid page at http://financialaid.richmond.edu/ for more information. Notably, a total of 16% of the applicants to University of Richmond receive the Federal Grant every year. On the other hand, 57% of the candidates get the Student Grant, 53% receive the Institution Grant, and 16% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,772, while the same comes to $3,257 for State Grant receivers and $42,264 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,657. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $51,848 per year. The average aid amount stands at $53,131 for an annual family income between $30,001 and $48,000. This amount comes to $48,053 for those who fall under the $48,001-$75,000 family income bracket. On the other hand, the average federal aid stands at $39,672 for those with an annual family income between $75,001 and $110,000, and at $21,644 for an income more than $110,000. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Candidates are also required to repay these loans within a given period. At University of Richmond, the percentage of candidates who opt to avail of student loans is around 31%.
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