Deposits & Refunds

General Fee Deposit | Housing Deposit | Withdrawals | Title IV Program Funds | Non-Title IV Program Funds 

General Fee Deposit

An advance payment of $100.00 (for returning students) and $300.00 (for entering students) toward the general fee is required each year to confirm a student's place in their returning class. This deposit allows the University of Richmond to determine the number of students not confirming a place and allow for allocation of the space to a new student. This deposit is non-refundable and is generally due mid-February of each academic year.

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Housing Deposit

A housing deposit of $500.00 (for returning students) and $300.00 (for entering students) is required each year if a student plans to participate in the room selection process. This deposit is non-refundable for entering students. The housing deposit is non-refundable for returning students if a room is selected. If you pay the deposit and do not select a room, the $500.00 will be credited to your account for the fall semester.

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Withdrawals

Students are matriculated by semester. If a student withdraws from classes or is dropped from the University for whatever cause, a refund of fees for the fall or spring semester shall be made in accordance with the University's refund policy, based on the schedule below.

Treatment of Charges and Return of Financial Aid When a Student Withdraws

Students who plan to withdraw from the University of Richmond must begin the official withdrawal process by contacting their Dean. The student must submit an official withdrawal letter to the Dean. The Dean's Office will notify the appropriate offices of the student's withdrawal from the University of Richmond including the actual withdrawal date.

A student who withdraws during a semester may be entitled to a refund of certain charges as outlined in the Refund Policy. Withdrawal may also affect a student's financial aid eligibility for the semester as outlined in the federal Return of Title IV Program Funds Policy and the Return of Non-Title IV Program Funds Policy.

General Fee, Room and Board Refund Policy

A withdrawing student receives a refund of charges paid according to the schedule below:

Any special fee associated with a particular course is non-refundable after the first day of class.

Please note: If you have overpaid your student account by personal check or by e-check, there will be a 14 business day wait from the day the check is deposited with our bank until a refund will be issued. You may call Student Accounts at (804) 289-8147 or toll free at (866) 241-8893 if you have any questions.

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Return of Title IV Program Funds Policy

The 1998 amendments to the Higher Education Act (HEA) of 1965 and subsequent regulations issued by the Department of Education (43 CFR 668.22) establish a policy for the return of Title IV grant and loan funds for a student who withdraws. Title IV grant and loan funds include the following programs: Federal Direct Loans, Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Federal Perkins Loan, Federal Work-Study, Federal Stafford Loans and Federal PLUS loans.

The amount of Title IV funds the student earns, up to the withdrawal date, is based on a daily proration determined by dividing the total number of calendar days completed by the total number of calendar days in the semester (excluding breaks of five or more consecutive days). This calculation must only be done up to the 60% point in time for the semester. After the 60% point in time, the student is considered to have earned all of the Title IV funds awarded for that semester.

Unearned Title IV funds must be returned to the Title IV programs. If the amount earned is greater than the amount that has been disbursed, the difference is treated as a late disbursement to the student. Unearned funds, up to the amount of total institutional charges (tuition, room and board) multiplied by the unearned percentage of funds, are returned to the Title IV programs by the University of Richmond. The student must return any portion of unearned funds not returned by the school. Ony 50% of unearned grants funds must be returned. Title IV loan funds that must be returned by the student are repaid per the loan terms.

Unearned Title IV funds are returned to the Title IV programs in the following order: Unsubsidized Federal Stafford Loans, Subsidized Federal Stafford Loans, Unsubsidized Direct Stafford Loans, Subsidized Direct Stafford Loans, Perkins Loans, Federal PLUS Loans, Direct PLUS Loans, Federal Pell Grants for which a return of funds is required, Federal Supplemental Educational Opportunity Grants for which a return of funds is required, LEAP funds for which a return of funds is required.

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Return of Non-Title IV Program Funds Policy

Non-Title IV financial aid will be adjusted for a withdrawing student based upon the University's Refund Policy. Adjustments will be made through the sixth week of classes. The amount to be returned to the Non-Title IV financial aid program is the same percentage that will be refunded to the student for tuition and room charges. After the sixth week the student is considered to have earned all of the Non-Title IV aid.

Non-Title IV financial aid funds are returned in the following order: institutional grants/scholarships, non-federal loans, agency scholarships.

Students who are receiving financial aid and who are planning to withdraw from the University during a semester are strongly encouraged to meet with a Financial Aid Advisor to review the impact that their withdrawal will have on their institutional charges and on their financial aid for the semester.

Summer School Refund Schedule

Appeals Process

The University of Richmond has an appeal process for students and parents who believe individual circumstances warrant exceptions from published policy. All appeals must be in writing and directed to Annemarie Weitzel, Bursar, Box R, University of Richmond, Virginia 23173.

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