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More prospective University of Richmond students will qualify for Richmond’s Promise to Virginia thanks to changes to the initiative, which targets first-time, first-year students who meet certain income and need-based financial aid criteria.
In its effort to make education more affordable, the university is increasing the qualifying income level for lower-income Virginians to receive financial assistance.
“We want to reduce financial barriers so that exceptional students at all points of the income distribution can envision themselves as Spiders,” said University of Richmond President Dr. Kevin F. Hallock.
Qualifying students whose total parental income is $75,000 or less may expect to receive grant aid equal to 100% of tuition, housing, and food at the university starting fall 2025.
Additionally, every undergraduate student is eligible to receive a fellowship of up to $5,000 for an unpaid or underpaid summer internship or faculty-mentored research project through the Richmond Guarantee, which benefits more than 500 students annually.
“We enthusiastically welcome talented students without consideration of their financial circumstances, and we are committed to ensuring all families can see a Richmond education as not only excellent but affordable,” said Hallock.