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University Advancement

Scholarships

Scholarships provide the financial leverage to enable an increasingly diverse group of highly qualified students to prepare for lives of leadership.

Nearly two-thirds of University of Richmond students received financial aid in the form of scholarships, grants, loans and work-study programs in the academic year 2006−07. However, to remain competitive with other prestigious, private universities, we must increase the number of scholarships we offer.

In 2006−07, Richmond gave more than $36.1 million in financial aid to a student body of approximately 3,000 undergraduates. The benefits of creating a scholarship last a lifetime for both the donor and for the scholarship recipient.

Endowed Scholarships

Endowed scholarships are invested with the endowment and exist in perpetuity, allowing each donor to assist Richmond students for generations to come. Endowed scholarships can be funded over a five-year period. Once the endowment reaches a minimum of $50,000, it can begin to be awarded.

Endowed scholarship benefactors have the ability to name their scholarships after themselves or in memory or honor of another. Scholarship donors are provided with the name of their recipient and are given the opportunity to meet their student(s) at the annual Endowed Scholarship Luncheon.

There are different types of endowed scholarships:

  • Fully Endowed Scholarships, which provide full tuition with room and board, reward the most talented students studying at the University of Richmond. Fully funded scholarships can be established with a gift of $650,000.
  • Endowed Full Tuition Scholarships also assist in recruiting and retaining top students and can be established with a gift of $500,000.
  • Recruiting Merit Scholarships, to recruit a highly qualified student in a specific discipline, can be established for $275,000.
  • Endowed Partial Tuition Scholarships funded at $50,000 provide much-needed scholarship assistance to worthy students.

 NOTE: The minimums for endowed scholarships are expected to change in 2008.

Annual Scholarships

Donors may establish a named scholarship that does not require an endowment. Named annual scholarships are designed to encourage scholarship support each year. Donors wishing to establish a named annual scholarship must pledge $5,000 or more each year for at least a four-year period. During that time, the funds will go directly toward aid for a student with demonstrated financial need.

For information on how to establish an endowed or annual scholarship, please contact Heather Lee Krajewski.