How to Apply for Financial Aid at Richmond
Please use the information provided to start your application Federal Direct Loans and Richmond Needs and Merits Based Scholarships. Our Financial Aid Office will use the combination of information that you and your parent supplies to determine your eligibility all types of Financial Aid and return to you with a Financial Aid package. Please complete each of the steps listed below and then submit the all of require documentation to us as instructed. The US Department of Education (DOE) provides comprehensive information about applying for direct loans. This information is summarised on Richmond’s Financial Aid webpages for your convenience, but we recommend you also read the DOE website. The key steps in the application process are outlined below.
Fall: Loan application processing for fall entry begins 15 January 2017 The deadline for loan applications to begin study in fall 2016 is May 1st. Please submit your application well before this deadline.
Spring: Loan application for spring 2018 entry begins from early October. The deadline for loan applications to begin study in spring 2018 is December.
Scholarships & Financial Aid (Need and Merit based)
- In order for our Financial Aid Office to determine your eligibility for Richmond Scholarships, please complete the New Student Scholarship/Financial Aid Application Form. Once you have completed this form, we will return to you with an indication of the Richmond Scholarship that we can offer you based on your Financial Need and Academic Merit.
Complete your Free Application For Federal Student Aid (FAFSA)
- After we have returned to you with an indication of your Richmond Scholarship/Aid, you should completed your Free Application for Federal Student Aid (FAFSA)
- In order to establish your eligibility for Direct Loans, you must complete the online FAFSA
- Richmond University’s Federal School Code is: G10594
- Please note that the University is not automatically notified once you have completed your FAFSA
- Once the US Department of Education has processed your FAFSA you will be issued with a student aid report (SAR). Please retain this for your records.
Direct Loan Entrance Counselling
Each time you borrow a federal loan at Richmond University, you must complete an online entrance counselling session on the Federal Student Aid (FSA) website. Even if you have completed entrance counselling at a previous school, you must still do another entrance counselling session for each federal loan intended for study at Richmond University. In order to initiate your loan application, please complete entrance counselling and ensure that you print a screenshot of your entrance counselling completion certificate. This should then be included in your direct loan application pack. Complete Direct Loan Entrance Counselling Here
Financial Literacy is about the ability to understand your finances and develop skills and knowledge to make informed choices through the understanding of your personal finances. It is important to be an educated consumer in order to make the most of what we have and plan for the future. The links below will discuss the basic skills that you need to be financially literate as you make important financial decisions with your budgeting, borrowing, maintenance of credit, spending, saving and investing. Managing money and being aware of your financial responsibilities is important. The U.S. Department of Education provides an excellent tutorial to help students navigate through the various financial aid programs and manage their finances. Students are strongly encouraged to complete Financial Awareness Counselling to understand their loans, manage spending, plan for repayment, and avoid default. Please see the videos to right on Responsible Borrowing and Budgeting.
Step 5: Complete your direct loan master promissory note (MPN)
- In order to take out a direct loan, you must complete a master promissory Nnote (MPN) for each year of study. The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees. It also explains the terms and conditions of your loan(s). You can complete your MPNon FSA website.
Step 6: Selective service registration
If you are male, please supply evidence that you have registered with selective service. Take a screen print of completion. If you are exempt from selective service, please provide evidence of this.
Step 7: Documentation required for the origination of your loan application
- If you have completed the actions outlined above, you will now be able to provide the documentation listed below. Please note that your loan application cannot be processed without these documents –ALL DOCUMENTATION MUST BE SUBMITTED TOGETHER.
- A your Richmond Needs and Merit Based Scholarship Award Letter
- A copy of your master promissory notes (MPN) for each loan type in pdf format
- A copy of entrance counselling confirmation (a screenshot confirming counselling completion)
- Evidence of Selective Service Registration or exemption
- Please e-mail these documents as individual documents clearly titled to firstname.lastname@example.org