UR Offers ‘No Loan’ Financial Aid to Richmond Public School Students
RPS graduates will receive grants to pay for undergraduate fees
November 18, 2020
The University of Richmond is launching a “loan-free program” in partnership with Richmond public schools, the university said on Wednesday. RPS graduates attending university may receive grants to cover any demonstrated financial need, instead of loans that must be repaid.
“We know that the thought of taking out loans can create anxiety among families, especially first-generation students,” UR President Ronald A. Crutcher said in a statement. “The University of Richmond and the City of Richmond want to retain our best students in the region, and the No Loan program will strengthen that effort. “
Undergraduate tuition at the private university is $ 56,860 this year, and accommodation and board can reach an additional $ 13,000, depending on the type of accommodation and meal plan chosen.
According to the university, graduates of Richmond schools, including Magnet Schools located in the city, have received more than $ 11 million in financial aid over the past decade. UR also offers the Richmond’s Promise to Virginia program, which provides grants for tuition, accommodation, and board to all Virginia students whose families earn less than $ 60,000.
“The loan-free program gives our students the remarkable opportunity to graduate from a world-class institution without incurring any debt,” RPS Superintendent Jason Kamras said in a statement. “We are extremely grateful to President Crutcher and the entire University of Richmond team for this generous commitment to our students.”
Eighteen percent of UR’s 3,147 undergraduates this year are from Virginia, according to the university.