Graduate Students FAQ
Do you have graduate assistantships?
Yes. Learn more.
Richmond participates in the Federal Direct Loan program. The Federal Direct Grad PLUS Loan is also available. We recommend that loan applications be submitted at least six weeks prior to the start of the term in order for funds to be available by the time classes begin.
Do I have to re-apply for financial aid every year?
Yes, you must re-submit the Free Application for Federal Student Aid and loan applications each year.
How will I receive my financial aid?
All financial aid is credited directly to the student’s account, at the beginning of the term, once the student has submitted all required forms and met all requirements for the aid. Aid for the academic year is split evenly between fall and spring terms. If the amount of financial aid exceeds your billable charges at Richmond, then you are eligible for a refund. The Student Accounts Office will automatically generate a refund for a credit balance caused by Federal financial aid within fourteen days of the actual disbursement date. Any other credit balances will remain on your account unless you request a refund from the Student Accounts Office.
Is financial aid available for summer term?
Yes. Federal Direct Loans are available for summer term if you enroll for six or more credit hours. The amount borrowed for summer will reduce the amount of Federal Direct Loan available to you for the fall and spring terms. If you plan to enroll for summer term, you should complete your Free Application for Federal Student Aid and submit your Summer Federal Direct Loan application no later than March 1.