University of Richmond

In 2022, Richmond's tuition was $62,600 a year.

Tuition increased 3.76% in 2023–from $60,330 the previous year. On average, college tuition goes up about 3% every year.

Remember, the displayed price of tuition doesn't mean much if you plan to use financial aid to help pay for college. Many students find the actual cost of college is far less than the total tuition after grants, scholarships, and tuition discounts kick in. Plus, student loans can make theprice of collegefeel more doable until after graduation.

University of Richmond meets 99% of the demonstrated financial need for undergraduates. The average financial aid package for a full-time, first-year student at University of Richmond is around $55,452 a year.

Students in the class of 2023 who had taken out student loans graduated with an average of $27,352 of debt.

University of Richmond: In-state vs. Out-of-State Tuition

University of Richmond is a private, nonprofit institution, which means it has the same tuition for residents of Virginia as it does for residents from other states.

Public schools receive funds from the state to help them cover costs. Public, state schools can offer lower tuition for students who meet the requirements for in-state residency.

Attending a school where you qualify for the reduced tuition offered to state residentscan save students a lot of money on the cost of tuition, as well as loans and interest owed. Don't forget to verify your state's guidelines for how to qualify for in-state tuition. Every state has its own rules about what makes someone eligible for in-state tuition. In many states, students must have lived in the state for 12 months before starting school to qualify for in-state tuition. There may be additional requirements too, depending on where you live.

Explore other Virginia colleges

University of Richmond International Student Tuition

University of Richmond has the same tuition for international students as for those from out of state.

International students usually do not qualify for for federal financial aid, but should research private or school-specific grants, scholarships, and other funding opportunities. International students with need may qualify for the following types of financial support at University of Richmond:

•On-campus jobs •Athletic Awards •University of Richmond-specific scholarships

International students without financial need may be eligible for merit-based institutional scholarships and athletic awards.

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University of Richmond Living Expenses, Fees, and More

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In addition to tuition, there are other costs associated with college, like room and board, facility fees, and books and supplies. Let's take a look at what impacts these costs, and what to expect at University of Richmond.

Room and Board Costs at University of Richmond

Room and board at University of Richmond is $15,790 a year. This includes the cost of living in dorms or other on-campus housing, and a meal plan that allows you to eat all or some of your meals the University of Richmond's on-campus cafeterias and dining halls. Students who do not live on-campus but would like to be able to eat in the campus dining can opt-in for a meal plan. The cost of board-only is $7,150.

Board costs can depend on the number of meals you intend to eat on-campus

Cost of Books at University of Richmond

First-year students are sometimes surprised by how much books and supplies cost–and not in a good way. The real cost of books depends on the courses you take and the materials required. To save money, many students choose to use books from the library or buy used textbooks and materials.

Yearly Fees

Most schools charge some yearly fees to offsets cost associated with maintaining facilties, like the library, gym and computer labs.

Keep in mind, there could also be additional fees associated with participating in special activities, like Greek Life, or participating in sports or other extracurriculars. Most colleges have resources for students who may struggle to participate because of cost can find ways to lower or eliminate these fees.

Transportation costs

The total cost of getting around in college can really vary. Will you take a subway, car or an airplane to get to school? Is on-campus parking free, or will you need to budget for parking? Is the campus walkable? Do you plan to bring a car or are you planning to use busses, subways, or other modes of transportation? All of these factors can drastically impact your transportation budget. At University of Richmond, freshman are allowed to park on campus.

Where are a college is located can impact your transportation budget. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the other hand transportation in a city might be costly, but cities may offer more trains, busses and low-cost flight options to actually get to school. The University of Richmond campus is located in a suburb in Virginia.

Other Costs

When you're planning for college, be sure to take into account the cost of things like going out to eat or see shows, furnishing your living space, and things like haircuts, clothes and, yes, even toilet paper and shampoo.

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The Full Cost of Attending University of Richmond

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Now, let’s look at the breakdown of all expenses, to get a better estimate of how much students can expect to shell out for University of Richmond.

Total Cost of University of Richmond

What will the cost of attending University of Richmond be? Here is a breakdown of tuition and expenses.

2023 Total Tuition and Expenses
Tuition	$62,600
Room and Board	$15,790
Board Only	$8,640
Other expenses	$1,130

The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.

Total Estimated Costs
On-Campus	$79,520
Off-Campus	$72,370

The breakdowns above provide a good estimate of the total cost of attendance before financial aid and scholarships. Tuition and fees may vary depending on program, course level, location, and more.

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University of Richmond Financial Aid

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In 2023, 1,216 of the 3,146 undergrads enrolled received financial aid. University of Richmond meets 99% of the demonstrated financial need for undergraduates.

The average financial aid package for a full-time, first-year student is around $55,452 a year. Around 37% of University of Richmond undergrads take out student loans to cover any remaining costs. University of Richmond graduates who have student loans graduate with an average of $27,352 of student loan debt.

The average debt for each loan type varies.

Average Debt By Loan Type
Federal Loans	$19,318
Private Loans	$46,585

Most Common Loans for University of Richmond Students
Federal Loans	36%
Private loans	6%

Most students take out institutional or government loans, because they tend to have lower interest rates and more flexible repayment options than private loans. Loans from the federal government can be subsidized or unsubsidized. Subsidized loans do not accrue interest during school, while unsubsidized loans begin accruing interest at the time the loan is issued. If students do no qualify for enough federal loans to cover the cost of tuition, some take out private loans. Parents can also take out ParentPLUS loans, which are government loans for parents who are helping their children pay for college.

The Free Application for Federal Student Aid (FAFSA) helps colleges determine how much financial need students and their familes have, so they can offer a financial aid package that meets, or come close to meeting, their need. For more information on University of Richmond financial aid, keep reading, or visit their financial aid website.

Scholarships at University of Richmond

Some students may receive grants and scholarships to help pay for college. Unlike loans, scholarships and grants do not have to be paid back.

In 2023, University of Richmond awarded 1,206 need-based scholarships to students, giving away total of $58.6 million to help students with financial need cover the cost of school. An additional $23.18 million in merit-based scholarship money was awarded to students without demonstrated financial need.

Net Cost of University of Richmond

The net price of college is the actual cost of attending a school for one year. Net cost is calculated by subtracting any scholarships, grants or other aid that does not need to be paid back from the total cost. Student loans are not part of the calculation, because they need to be repaid.

Now that we have a sense of the total estimated costs for University of Richmond students, we can subtract the average financial aid package to find the estimated net cost. Net cost can vary depending on a students’ need and the financial aid award received.

When considering whether a school fits your budget, it is important to consider the estimated net cost, not just the sticker price of tuition. Often, schools with the highest tuition also offer the most generous aid packages, so estimate your net cost before eliminating a school because it does fit your budget.

The average amount of financial aid received by a full-time first year student with demonstrated need at University of Richmond was $55,452 in 2023. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of University of Richmond seem more manageable.

Estimated Net Cost for Full-Time Students
On-Campus	$24,068
Off-Campus	$16,918

What will attending University of Richmond really cost you? The answer depends on several factors.

As of 2011, colleges are required to have a net price calculator on their website to help prospective students and their families make more informed decisions about the actual cost of attending that school, based on their financial situation. You can find the University of Richmond's net cost calculator on their website.

University of Richmond Tuition Payment Plans

Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.

University of Richmond does not have guaranteed tuition.

University of Richmond offers an Installment Payment Plan, which allows students to pay tuition in a series of smaller chunks instead of one lump sum.

Richmond Tuition Waivers

Schools sometimes waiver tuition for certain groups, to offset the cost of attending. Some schools offer tuition waivers for faculty, staff, and their families , underrepresented students, or military students. Even if you qualify for a waiver, students are usually responsible for housing, meal plans, and other expenses.

Richmond has some full or partial tuition waivers available for: - Employees or Children of Employees

Check the financial aid website for more information on payment plans and tuition waivers.

University of Richmond's Endowment

An endowment is the total value of a school's investments, donations, and assets. Endowment is not necessarily an indicator of the quality of a school, but it can give you a sense of how much money a college can afford to invest in expanding programs, improving facilities, and supporting students.

University of Richmond's endowment was valued at $3.2 billion in 2023, compared to a national average of $905 million. For each full-time student, University of Richmond spends about $23,819 a year.

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Learn More About University of Richmond

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Click below to find out more about the admissions requirements and deadlines, student life, academics, majors and more.

Overview

Student Life

Academics

Admissions

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