RICHMOND, Va. (AP) - The University of Richmond will offer a free education to Virginia students with family incomes at $60,000 or less beginning in the fall 2014.
The announcement Friday raises the income limit at which admitted first-year students from Virginia will qualify for free tuition, room and board.
The current income level is $40,000 or less.
Nanci Tessier is vice president for enrollment management at the private college. She said by increasing the income ceiling, the University of Richmond will become a destination for more talented students from middle class Virginia families.
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Release from The University of Richmond:
University of Richmond to offer free tuition, room and board to qualified Virginia students from families earning $60,000 a year or less
Beginning in fall 2014, University of Richmond will raise the family income amount at which incoming first-year students from Virginia will qualify for free tuition, room and board, without loans. The need-based financial assistance will make a high quality college education affordable and accessible for more Virginians.
Virginia students from families whose total household income is $60,000 or less now are eligible for the program, with the new income level to take effect for University of Richmond freshmen entering in fall 2014. Previously, the full tuition, room and board assistance was available to families whose total family income totaled $40,000 or less.
"We know that many families are seeking to secure a quality college education for their children within a challenging economic environment," said Nanci Tessier, vice president for enrollment management. "By broadening the income parameters of this program, we can expand the reach of the University of Richmond to become a destination for more talented students from middle-class Virginian families."
Founded in 1830, Richmond is recognized as one of America's leading liberal arts universities by U.S. News and World Report, Princeton Review's "The Best 377 Colleges," "The Fiske Guide to Colleges, Barron's "Guide to the Most Competitive Colleges" and other influential college guidebooks.
The guides also name it a consensus best value for educational quality and affordability because of its need-blind, extensive financial aid. Richmond also offers students numerous grants supporting summer fellowships for research and internships.
BusinessWeek lists the university's business school in the nation's top 20, and Newsweek has called it one of 25 "Hottest Schools in America" for its international education program. Its Jepson School of Leadership Studies is the first degree-granting school in the discipline, and its School of Professional and Continuing Studies offers non-traditional students degree programs at all levels. Richmond's School of Law has produced attorneys, judges and leaders serving at the local, state and national level since 1870.
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