US Financial Aid at Richmond University

Financial Aid at Richmond University

  • At Richmond, you can explore two types of Financial Support if you are US National or Eligible Non Citizen resident in the US.
  • Richmond Financial Aid Packages usually consists of the following
  • Richmond, the American University in London participates in the William D. Ford Federal Direct Loan Program.  Subject to eligibility, US students are able to fund their undergraduate or postgraduate studies at London Met by taking out federal loans.
  • The information on these webpages will guide you with through the Direct Loan application process and provide you with information on procedures and statutory requirements.
  • Please follow the instructions provided so that we can process your financial aid package (Federal Direct Loans and Richmond Scholarships)
  • You should use this website as a reference during the application process and during your time at the University.
  • It is important that you read and understand the information. Please read all the relevant sections, including the recommended external information references, follow the procedures given and adhere to the deadlines.

Richmond University Scholarships

Richmond University offers generous scholarship packages to its undergraduate students. University sponsored scholarships and grants are awarded to students on the basis of academic merit, financial need and services to the community.  Our goal is to offer every student as much financial assistance as possible based on availability and need.  A needs and merit based determination is carried out in conjunction with your application for Federal Direct Loan Funding and any private loan funding where applicable.

      Important Notes

      Important notes

      • The definitive source of information for all matters relating to the direct loan programme is the US Department of Education and your loan servicer. The information on this website and the links to external sources are updated annually and every effort is made to ensure that they are revised periodically.
      • The direct loan program is regulated by US federal regulations that are enforced by the US Department of Education. London Metropolitan is responsible for the implementation of these regulations.
      • Pell grants are not available for study outside the United States.

      Eligible courses

      Most of Richmond’s Programmes are eligible for Financial Aid. The following are not eligible:

      • Any course that does not lead to an undergraduate or postgraduate degree award eg certificate and diploma programmes
      • Any course with an element of study or research (including dissertation write up) based in the United States or any other location outside the UK
      • Distance learning courses
      • Any course of study that includes a work placement, work experience or an internship carried out at a location that is not eligible to award federal aid in its own right
      • Study abroad programmes (students should apply for federal loans through their home university)

      If you are in any doubt, please email @richmond.ac.uk for further advice before starting your direct loan application.

      Direct Loan Types

      There are four types of Direct Loan

      1. Direct subsidised for independent and dependent undergraduate students – the interest is paid by the federal government while in school
      2. Direct unsubsidised for independent and dependent undergraduate students and graduate students – the interest accrues while in school
      3. Direct parent PLUS for parents of dependent undergraduates to cover up to the full cost of attendance minus any other aid – subject to the parent’s credit rating. The parent can ask to defer repayment during the beneficiary student’s in-school status and for an additional six months after the student’s graduation
      4. Direct graduate PLUS for independent graduate students to cover up to the full cost of attendance minus any other aid or funding – subject to the student’s credit rating and can be consolidated after graduation. Graduate PLUS loans begin repayment six months after graduation
      How much can I borrow?
      • The table below shows the direct loan amounts you can borrow, depending on your degree level and dependent/independent status (for undergraduates)
      • The amounts listed may be topped up to the full cost of attendance with a  Parent PLUS loan or a Graduate PLUS Loan.
      • PLUS Loans are not an entitlement as they are subject to credit checking and may be declined by the DoE
      • Please note that all loan amounts are subject to a 1% origination fee (4% for PLUS loans) deducted by the Department of Education at the time of disbursement.
      • The full amount of loan that you are able to borrow will also be dictated by the amount of Richmond Scholarships that you are awarded
      • Full rates of interest for each loan type

      Undergraduate (Dependent) for students that are under 25 years of age

      Dependent undergraduates Direct loan subsidised Direct loan unsubsidised Total
      First Year $3,500.00 $2,000.00 $5,500.00
      Second Year $4,500.00 $2,000.00 $6,500.00
      Third Year $5,500.00 $2,000.00 $7,500.00

      Undergraduate (Independent) for students that are over 25 years of age

      Independent undergraduates Direct loan subsidised Direct loan unsubsidised Total
      First Year $3,500.00 $6,000.00 $9,500.00
      Second Year $4,500.00 $6,000.00 $10,500.00
      Third Year $5,500.00 $7,000.00 $12,500.00

      Graduate Loans for postgraduate (Graduate) study only

      Graduates  Direct loan subsidised Direct loan unsubsidised Total
      First Year n/a $20,500.00 $20,500.00
      Second Year n/a $20,500.00 $20,500.00
      Richmond Scholarships

      Scholarships & Grants available for US $ fee payers

      Richmond US $ scholarship awards are usually available only to full-time, degree-seeking students at Richmond. These are needs and merit based and can be combined with your Direct Loans and other sources of personal funding.  In order to be considered for one of Richmond’s US$ Scholarships, please completed the Richmond Needs and Merit Assessment Form  and return it with your Direct Loan Application:


      Chancellors  Scholarship

      Who may be eligible? Students who are new entrants to the University, paying the full Richmond US tuition fee. To qualify students must achieve a final cumulative High School Certificate GPA of 3.6 – 4.0. However, applications will be considered on a predicted GPA, subject to verification of final results meeting the aforementioned criteria.  Scholarship eligibility will be determined based on the information supplied in your NEEDS and MERIT Based Funding Application.

      About the Scholarship: The Chancellor’s Scholarship  is merit based. To qualify students must be able to show either a predicted grade or final High School Certificate/Diploma of 3.6 – 4.0 GPA. Continuation of the Presidential Scholarship after the first year is conditional on the student achieving a cumulative GPA of at least 3.4 from the previous academic year, remaining in good standing and making a positive contribution to University life. The Chancellors Scholarship may not be held in conjunction with any other form of financial support or scholarship from the University.

      (*calculated according to the University’s methodology)


      The Vice Chancellor’s Scholarships

      Who may be eligible? Students who are new entrants to the University, paying the full Richmond US tuition fee. To qualify, students must achieve a final cumulative High School Certificate  GPA of 3.0 – 3.50. However, applications will be considered on predicted GPA, subject to verification of final results meeting the aforementioned criteria. Scholarship eligibility will be determined based on the students’ application for admission and supporting documents. Scholarship eligibility will be determined based on the information supplied in your NEEDS and MERIT Based Funding Application. 

      The Chancellor’s Scholarship is merit based. To qualify students must be able to show either a predicted grade or final High School Certificate of 3.0 – 3.50 GPA. Continuation of the Dean’s Scholarship after the first year is conditional on the student achieving a cumulative 3.0 – 3.50 GPA from the previous academic year, remaining in good standing and making a positive contribution to University life. The Chancellors Scholarship may not be held in conjunction with any other form of financial support or scholarship from the University.

      (*calculated according to the University’s methodology)


      The Deans’s Scholarships

      Who may be eligible? Students who are new entrants to the University, paying the full Richmond US tuition fee. To qualify, students must achieve a final cumulative High School Certificate of GPA 2.75 – 3.00. However, applications will be considered on predicted GPA, subject to verification of final results meeting the aforementioned criteria. Scholarship eligibility will be determined based on the information supplied in your NEEDS and MERIT Based Funding Application. 

      The Deans’s Scholarship is merit based. To qualify students must be able to show either a predicted grade or final High School Certificate of 2.75 – 3.00 GPA. Continuation of the Dean’s Scholarship after the first year is conditional on the student achieving a cumulative 3.0 – 3.59 GPA from the previous academic year, remaining in good standing and making a positive contribution to University life. The Dean’s Scholarship may not be held in conjunction with any other form of financial support or scholarship from the University.

      (*calculated according to the University’s methodology)


      Leadership and Armed Forces Scholarships

      Who may be eligible? Students who are new entrants to the University, paying the full Richmond US tuition fee. To qualify, students must achieve a final cumulative High School Certificate of 2.75 – 3.00 GPA. However, applications will be considered on predicted GPA, subject to verification of final results meeting the aforementioned criteria. Scholarship eligibility will be determined based on the information supplied in your application.

      The Deans’s Scholarship is merit based. To qualify students must be able to show either a predicted grade or final High School Certificate of  3.00 GPA. Continuation of the Dean’s Scholarship after the first year is conditional on the student achieving a cumulative 3.0 GPA from the previous academic year, remaining in good standing and making a positive contribution to University life. The Dean’s Scholarship may not be held in conjunction with any other form of financial support or scholarship from the University.

      (*calculated according to the University’s methodology)

      Information for Parents

      Helpful Hints
      The financial aid application process is easier than you think. We believe that many problems can be avoided if you follow the checklist. Pay special attention to answering every question on the forms and provide as much complete and accurate information as possible.

      Check with your guidance office for financial aid night programs at school or in your area. Programs like these can help answer questions regarding the financial aid process.

      There are also many resources and Internet sites available to help you. If you have a question that is not answered in our Frequently Asked Questions (FAQ’s) section, please contact our office by clicking here.

      Be wary of services that promise financial aid for a fee. Our staff is only a phone call away. Let us be of service to your family!

      Filing Tips
      Remember to check your Social Security number before you enter it on any college related forms.
      Be sure to complete your FAFSA using black ink as required by the processor.
      Don’t forget to sign and have your parents sign the FAFSA before submitting the form. If you file online, be sure both the student and one parent obtain a PIN number at www.pin.ed.gov. This PIN number is your electronic signature. Without the necessary signatures, the form will not be processed.
      Use the Financial Aid Checklist to meet necessary deadlines.
      Keep your financial aid materials together in a separate file and keep a copy of everything you submit.

      Online Resources
      To help guide you in the financial aid process, check out these useful Internet sites.

      Sponsored by the National Financial Aid Administrators; general information and a good link to many other sitesSave

      College/university and scholarship search

      Financial aid information and registering for PROFILE

      Complete FAFSA online

      Department of Education PIN registration

      Private Loan Funding

      Private Loans are available for those who meet the requirements  The loans are based on credit history and usually require a co-signer. Interest rates vary.

      Sallie Mae Smart Option Student Loan, please follow the link for more information.

      If you are a resident of North Dakota or New Jersey, you may be able to borrow a study loan from your State banks – please contact them directly for more details.

      Please note that the terms of conditions of US Federal Direct Loans may be more favourable than those of private loans. It should also be noted that a private loan cannot exceed the Cost of Attendance (COA) less additional scholarships and less any Direct Loans that you intend to borrow or have borrowed. Private Study loans are received as a cheque co-payable to you and King’s and are not restricted to termly disbursements and repayment begins upon graduation.

      If you have any questions please contact our Boston Office at 343 Congress Street,  Suite 3100, Boston, MA 02210-1214 USA  Tel : 1 (617) 450-5617 – Email: usadmissions@richmond.ac.uk

      Entry Requirements

      Applicants typically must meet at least one of the following academic achievements for successful admission into the University:

      • A Level*: BBC
      • US High School Diploma (or equivalent): 2.5 GPA minimum (on 4.0 scale)
      • International Baccalaureate*: 28
      • BTEC National Diploma*: DMM
      • ABMA Diplomas and Certificates*
      • SAT: 1700
      • ACT composite: 24
      • French Baccalaureate*: 12 Assez bien
      • Abitur (Germany)*: 2.5 – 2.7
      • Esame di Stato (Italy)*: Overall average of 70 or above

      University English Language Proficiency Requirements

      • English is the language of instruction at Richmond.
      • To meet the entrance requirements for university study, applicants must achieve a designated level of English language proficiency. All students (with the exception of students whose first language is English) must submit either IELTS or Pearson Academic Test of English results when applying for admission. Results must be current within two years at the time of application. Submission of SAT/ACT scores is optional. The University no longer accepts TOEFL.
      • UK Border Agency Language Requirements
      • Non-EU/UK citizens should review the Home Office English language exam requirements and submit the appropriate exam results to us as soon as possible.
      • The UKBA has clear guidelines and requirements. All applicants must achieve the minimum requirements in all 4 components (listening, reading, speaking and writing). The minimum entry requirement for a degree level course is a Common European Framework grade of B2. IELTS and Pearson equivalents are shown below.
      • IELTS – a score of at least 5.5 in each element
        Pearson Academic Test of English – a score of at least 51 in each element
      • For further information, contact the Office of Admissions.
      • Home Office links:
        Home Office – English Language
        Home Office – Approved tests and required results for Level B2

      How to Apply

      How do I Apply?

      UCAS
      If you want to apply to other UK Universities at the same time

      The Common Application
      If you want to apply to other US (and some UK) Universities at the same time

      Direct Application
      If you just want to apply to Richmond

      Scholarships

      Find out more about Undergraduate Scholarships

      Tuition Fees: 2016/17 entry per annum, students from:

      UK/EU

      £9000

      US

      $36,000

      Rest of the World

      £14,500