News
By Kylie McKenna
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August 25, 2011
The Princeton Review has named the University of Richmond among the 13 colleges with the best financial aid.
"It's really exciting to work in a place that has that kind of commitment to be able to help students who might not otherwise be able to consider a Richmond education," said Cynthia Deffenbaugh, director of student financial aid.
Richmond has a need-blind admission process and is committed to meeting 100 percent of the demonstrated need of admitted students, Deffenbaugh said.
According to Sophomore Jon Overton, Richmond's financial aid program is helpful in that makes the school's cost closer to that of a state school.
"It's also helpful because it allows you to do a work-study program while you're here," Overton said.
The program is supported by the university's operating budget as well as endowed funds, she said.
Deffenbaugh said she did not think the worsening economy would have an impact on the financial aid program's commitment to meeting student aid.
"We're several years into this recession and we have maintained that commitment, and my expectation is that we plan to continue," she said.
However, according to Dr. Robert Nicholson, associate dean for undergraduate business programs and professor of Economics in the Robins School of Business, every university, even one like Richmond that has made such a strong commitment to student financial aid, has a financial limit.
One change affecting graduate students will be the removal of the origination fee rebate, Deffenbaugh said.