Summer Financial Aid

Financial aid is available for summer term at the University of Richmond in the form of Federal Direct Loans or private loans for students enrolled at least half-time (3 credit hours for summer term). Law students may also apply for a loan for the London Clinical Placement Program and the Cambridge Summer Study Abroad Program. Scholarships from Richmond sources are not available for summer term.

Students who want to apply for financial aid for the summer 2021 term must submit the following applications at least six weeks prior to the start of their summer enrollment:

• The 2021-22 Free Application for Federal Student Aid (FAFSA)
• The Summer 2021 Federal Direct Loan Application.

Registration for summer term courses (at least half-time enrollment) must be completed before the loan will be processed. The loan will be paid in one disbursement at the beginning of the student’s summer enrollment.

Loan proceeds for applications submitted less than six weeks prior to the start of the summer term may not be available to the student by the start of their summer enrollment. Applications submitted after the half-way point of the student's summer enrollment will not be processed.

Amounts borrowed under the Federal Direct Unsubsidized Loan program for summer enrollment will decrease the amount available from this loan program for the academic year. (The annual loan limit for Unsubsidized Loans is $20,500.) Students may, however, make up the difference needed for the academic year by borrowing from the Federal Direct Grad PLUS Loan program.

We begin to process summer financial aid at the beginning of May. Loan applications are typically processed within seven business days. When your loan has been processed, it will be applied as a credit to your Student Account and you will be able to see it on BannerWeb.

Note: Students who want to apply for a Federal Direct Loan for the 2021-22 academic year, must only submit the 2021-22 Free Application for Federal Student Aid (FAFSA) to be offered their loans. In order to accept or decline all or a portion of their Federal Direct Loans, students must log into their BannerWeb account. To do so, follow these instructions.