University of Richmond

www.richmond.edu

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2023 Undergraduate Tuition

$62,600

3.76% growth from 2022

2023 Average Net Price

$35,263

After Financial Aid

2020 Default Rate

on Student Loans

2023 Acceptance Rate

23.3%

15,121 Applicants

2023 Enrolled Students

3,776

90.3% Full-Time

2023 Graduation Rate

87.8%

701 Graduates

About

University of Richmond is a higher education institution located in Richmond city, VA. In 2023, the most popular Bachelors Degree concentrations at University of Richmond were General Business Administration & Management (253 degrees awarded), Organizational Behavior Studies (82 degrees), and General Psychology (56 degrees).

In 2023, 1,261 degrees were awarded across all undergraduate and graduate programs at University of Richmond. 58.2% of these degrees were awarded to women, and 41.8% awarded men. The most common race/ethnicity group of degree recipients was white (790 degrees), 6.08 times more than then the next closest race/ethnicity group, hispanic or latino (130 degrees).

The median undergraduate tuition at University of Richmond is $62,600, which is $33,320 more than the national average for Baccalaureate Colleges ($29,280).

In 2020 the default rate for borrower's at University of Richmond was 0%, corresponding to 0 out of the 625 total borrowers.

Baccalaureate Colleges: Arts & Sciences Focus Baccalaureate Colleges

Costs

In 2023, the median undergraduate tuition at University of Richmond is $62,600, which is $33,320 more than the national average for Baccalaureate Colleges ($29,280).

After taking grants and loans into account, the average net price for students is $35,263.

In 2023, 75% of undergraduate students attending University of Richmond received financial aid through grants. Comparatively, 33% of undergraduate students received financial aid through loans.

Tuition Costs

$62,600

2023 Undergraduate Tuition

In 2023, the cost of tuition at University of Richmond was $62,600. The cost of tuition at University of Richmond is $33,320 more than than the overall (public and private) national average for Baccalaureate Colleges ($29,280).

This chart compares the tuition costs of University of Richmond (in red) with those of other similar universities.

Average Net Price

$35,263

2023 Value

20.6%

1 Year Growth

In 2023 University of Richmond had an average net price — the price paid after factoring in grants and loans — of $35,263. Between 2022 and 2023, the average net price of University of Richmond grew by 20.6%.

This chart compares the average net price of University of Richmond (in red) with that of other similar universities.

Average net price is calculated from full-time beginning undergraduate students who were awarded a grant or scholarship from federal, state or local governments, or the institution.

Other Student Expenses

$14,870

Room and Board

$1,000

Books and Supplies

The average yearly cost of room and board at University of Richmond was of $14,870 in 2023. The cost of room and board increased by 6.59% between 2022 and 2023.

During the same period, the average yearly cost of books and supplies was $1,000. The cost of books and supplies did not change during the same period.

This chart compares the average student costs at University of Richmond (in red) with that of similar universities.

Financial Aid by Income Level

75%

Undergraduates Receiving Financial Aid through Grants

33%

Undergraduates Receiving Financial Aid through Loans

75% of undergraduate students at University of Richmond received financial aid through grants or loans in 2023. This represents a growth of 7.14% with respect to 2022, when 70% of undergraduate students received financial aid.

This chart compares the average award discount at University of Richmond (in red) with that of other similar universities.

The average award discount is the ratio between the average grant or scholarship value, and the cost, which is the sum of out-of-state tuition, room, board, book, supplies, and other expenses.

Student Loan Default Rate

Cohort default rates only account for borrowers who default in the first three years, and some schools only have a small proportion of borrowers entering repayment. These rates should be interpreted with caution, as they may not be reflective of the entire school population.

2020 Default Rate

Number of Defaults

In 2020 the default rate for borrower's at University of Richmond was 0%, which represents 0 out of the 625 total borrowers.

A cohort default rate is the percentage of a school's borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1 to September 30, and default or meet other specified conditions prior to the end of the second following fiscal year.

Admissions

University of Richmond received 15,121 undergraduate applications in 2023, which represents a 5.27% annual growth. Out of those 15,121 applicants, 3,525 students were accepted for enrollment, representing a 23.3% acceptance rate.

There were 3,776 students enrolled at University of Richmond in 2023. 20% of first-time enrollees submitted SAT scores with their applications.

University of Richmond has an overall enrollment yield of 23.6%, which represents the number of admitted students who ended up enrolling.

Acceptance Rate

23.3%

Acceptance Rate in 2023

3,525

Accepted Out of 15,121

In 2023, the undergraduate acceptance rate of University of Richmond was 23.3% (3,525 admissions from 15,121 applications). This is lower than the acceptance rate of 2022, which was 24.4%. Between 2022 and 2023, the number of applicants grew by 5.27%, while admissions grew by 0.686%.

This chart compares the acceptance rate of University of Richmond (in red) with that of other similar universities, and the chart below shows the acceptance rate by gender.

SAT Scores

20%

Submission Percentage (2023)

165

Scores Submitted (2023)

20% of enrolled first-time students at University of Richmond in 2023 submitted SAT scores with their applications.

The following chart shows the average SAT scores for the 25th, 50th, and 75th percentile of applicants for each section of the test that they are evaluated on.

Enrollment

University of Richmond had a total enrollment of 3,776 students in 2023. The full-time enrollment at University of Richmond is 3,408 students and the part-time enrollment is 368. This means that 90.3% of students enrolled at University of Richmond are enrolled full-time.

The enrolled student population at University of Richmond, both undergraduate and graduate, is 60.6% White, 9.27% Hispanic or Latino, 6.51% Black or African American, 5.72% Asian, 4.16% Two or More Races, 0.132% American Indian or Alaska Native, and 0.0265% Native Hawaiian or Other Pacific Islanders.

Students enrolled at University of Richmond in full-time Undergraduate programs are most commonly White Female (30.8%), followed by White Male (28.4%) and Hispanic or Latino Female (6.36%). Students enrolled in full-time Graduate programs are most commonly White Female (39.8%), followed by White Male (28.9%) and Hispanic or Latino Female (5.63%).

Full-Time vs Part-Time Enrollment

90.3%

Full-Time Enrollment

The total enrollment at University of Richmond in 2023, both undergraduate and graduate, is 3,776 students. The full-time enrollment at University of Richmond is 3,408 and the part-time enrollment is 368. This means that 90.3% of students enrolled at University of Richmond are enrolled full-time compared with 78.8% at similar Baccalaureate Colleges.

This chart shows the full-time vs part-time enrollment status at University of Richmond (in red) compares to similar universities.

Retention Rate over Time

93%

2023 Retention Rate

Retention rate measures the number of first-time students who began their studies the previous fall and returned to school the following fall. The retention rate for full-time undergraduates at University of Richmond was 93%. Compared with the full-time retention rate at similar Baccalaureate Colleges (74%), University of Richmond had a retention rate higher than its peers.

This chart shows the retention rate over time at University of Richmond (highlighted in red) compares to similar universities.

Enrollment by Race & Ethnicity

Most Common Race or Ethnicity (2023)

White
2,287 enrolled students
Hispanic or Latino
350 enrolled students
Black or African American
246 enrolled students

The enrolled student population at University of Richmond is 60.6% White, 9.27% Hispanic or Latino, 6.51% Black or African American, 5.72% Asian, 4.16% Two or More Races, 0.132% American Indian or Alaska Native, and 0.0265% Native Hawaiian or Other Pacific Islanders. This includes both full-time and part-time students as well as graduate and undergraduates. By comparison, enrollment for all Baccalaureate Colleges is 53.2% White, 14.1% Hispanic or Latino, and 12.9% Black or African American.

Any student who is studying in the United States on a temporary basis is categorized as a "Non-Resident Alien", and the share of those students are shown in the chart below. Additionally, 127 students (3.36%) did not report their race.

Graduates

In 2023, 207 more women than men received degrees from University of Richmond. The most common race/ethnicity group of degree recipients at University of Richmond is white (790 degrees awarded). There were 6.08 times more white recipients than the next closest race/ethnicity group, hispanic or latino (130 degrees).

The most common Bachelor's Degree concentration at University of Richmond is General Business Administration & Management (253 degrees awarded), followed by Organizational Behavior Studies (82 degrees) and General Psychology (56 degrees).

In 2023, the most specialized majors across all degree types at University of Richmond, meaning they have significantly more degrees awarded in that concentration than the national average across all institutions, are Legal (172 degrees awarded), Cultural & Gender Studies (17 degrees), and English (41 degrees).

Common Jobs by Major

Lawyers, & judges, magistrates, & other judicial workers

Most Common Job

The most common jobs for people who hold a degree in one of the 5 most specialized majors at University of Richmond are Lawyers, & judges, magistrates, & other judicial workers (418,285 people), Other managers (319,485 people), Elementary & middle school teachers (230,439 people), Postsecondary teachers (175,312 people), and Chief executives & legislators (145,958 people).

The most specialized majors at University of Richmond in 2023 are Legal (172 degrees awarded), Cultural & Gender Studies (17 degrees), English (41 degrees), Social Sciences (120 degrees), and Interdisciplinary Studies (75 degrees) (as of 2023).

Highest Paying Jobs by Major

Surgeons

Highest Paying Job

The highest paying jobs for people who hold a degree in one of the 5 most specialized majors at University of Richmond are Surgeons, Nuclear medicine technologists and medical dosimetrists, Securities, commodities, & financial services sales agents, Physicians, and Nurse anesthetists

The most specialized majors at University of Richmond are Legal (172 degrees awarded), Cultural & Gender Studies (17 degrees), English (41 degrees), Social Sciences (120 degrees), and Interdisciplinary Studies (75 degrees) (as of 2023).

Common Industries by Major

Elementary & secondary schools

Most Common Industry

The most common industries for people who hold a degree in one of the 5 most specialized majors at University of Richmond are Elementary & secondary schools (983,768 people), Computer Systems Design (708,454 people), Colleges, universities & professional schools, including junior colleges (681,670 people), Banking & related activities (594,111 people), and Securities, commodities, funds, trusts & other financial investments (547,985 people).

Majors Awarded

IPEDS uses the Classification of Instructional Programs (CIP) standard, so the categories may not match the exact concentrations offered by University of Richmond.

Most Common (2023)

General Business Administration & Management
253 degrees awarded
Organizational Behavior Studies
82 degrees awarded
General Psychology
56 degrees awarded

In 2023, the most common bachelors degree concentration at University of Richmond was General Business Administration & Management with 253 degrees awarded.

This visualization illustrates the percentage of degree-majors recipients from bachelors degree programs at University of Richmond according to their major.

Sex Breakdown for Common Majors

527

Degrees Awarded to Men

in 2023

734

Degrees Awarded to Women

in 2023

In 2023, 527 degrees were awarded to men at University of Richmond, which is 0.718 times less than the number of degrees awarded to females (734).

This chart displays the sex disparity between the top 5 majors at University of Richmond by degrees awarded.

Most Common Male Majors

In 2023, 162 degrees were awarded to men at University of Richmond in General Business Administration & Management, which is 1.5 times more than the 108 female recipients with that same degree.

Most Common Female Majors

In 2023, 108 degrees were awarded to men at University of Richmond in General Business Administration & Management, which is 0.667 times less than the 162 male recipients with that same degree.

Time to Complete

84%

100% Completion Time

89%

150% Completion Time

In 2023, 84% of students graduating from University of Richmond completed their program within 100% "normal time" (i.e. 4 years for a 4-year degree). Comparatively, 89% completed their degrees within 150% of the normal time, and 90% within 200%.

The following chart shows these completion rates over time compared to the average for the Baccalaureate Colleges Carnegie Classification group.

Graduation rate is defined as the percentage of full-time, first-time students who received a degree or award within a specific percentage of "normal time" to completion for their program.

Graduation Rate by Race and Sex

Showing demographic groups with ≥ 5 graduating students.

Asian Male

Highest Graduation Rate (96%)

The student demographic with the highest graduation rate in 2023 at University of Richmond is Male and Asian (96% graduation rate). Across all Baccalaureate Colleges, Non-resident Alien Male students have the highest graduation rate (65.7%).

The department of education defines graduation rate as the percentage of full-time, first-time students who received a degree or award within 150% of "normal time" to completion.

The National Center for Education Statistics (NCES) categorizes any student who is studying in the United States on a temporary basis as a "Non-Resident Alien", and the graduation rate of those students is shown in the chart below. Additionally, 3.85% of graduates (27 students) did not report their race.

Race & Ethnicity by Share

Most Common Student Race or Ethnicity (2023)

White
790 degrees awarded
Hispanic or Latino
130 degrees awarded
Black or African American
88 degrees awarded

The most common race/ethnicity at University of Richmond is white (790 degrees awarded). There were 6.08 times more white recipients than the next closest race/ethnicity group, hispanic or latino (130 degrees).

4.36% of degree recipients (55 students) did not report their race.

Race & Ethnicity by Sex

Most Common Sex Demographic (2023)

White Female
438 degrees awarded
White Male
352 degrees awarded
Hispanic or Latino Female
82 degrees awarded

The most common race/ethnicity and sex grouping at University of Richmond is white female (438 degrees awarded). There were 1.24 times more white female recipients than the next closest race/ethnicity group, white male (352 degrees).

Operations

University of Richmond has an endowment valued at nearly $3.15B, as of the end of the 2023 fiscal year. The return on its endowment was of 107M (3.4%) compared to the 4.79% average return (2.46M on 51.4M) across all Baccalaureate Colleges.

In 2023, University of Richmond had a total salary expenditure of 349M. University of Richmond employs 141 Associate professors, 135 Professors and 72 No academic ranks. Most academics at University of Richmond are Male Associate professor (77), Male Professor (73), and Female Associate professor (64).

The most common positions for non-instructional staff at University of Richmond are: Service, with 301 employees, Office and Administrative Support, with 176 employees, and Management with 164 employees.

Endowment

$3.15B

2023 Endowment

0.107%

decline from 2022

University of Richmond has an endowment valued at about $3.15B, as of the end of the 2023 fiscal year. The endowment of University of Richmond declined 0.107% from the previous year. The value of their endowment was $3.1B higher than than the median endowment of Baccalaureate Colleges according to the Carnegie Classification grouping.

This line chart shows how the endowment at University of Richmond (in red) compares to that of some similar universities.

The small bar chart below shows the endowment quintiles for all universities in the Baccalaureate Colleges: Arts & Sciences Focus Carnegie Classification grouping.

Salary Expenditure

$157M

2023 Salaries

10.5%

growth from 2022

In 2023, University of Richmond paid a median of $157M in salaries, which represents 44.9% of their overall expenditure ($349M) and a 10.5% growth from the previous year. This is compared to a 0.35% growth between 2021 and 2022, and a 1.4% growth between 2020 and 2021.

The median for similar Baccalaureate Colleges is 15.7M (37.9% of overall expenditures).

Instructional Salaries

$59.4M

Instructional Salaries

448

Number of Employees

In 2023, University of Richmond paid a total of $59.4M to 448 employees working as instructors, which represents 37.8% of all salaries paid.

This is compared to a median of $552k (3.27%) for similar Baccalaureate Colleges.

Occupations by Share

Associate professor

Most Common Instructor

141 Employees

Service

Most Common Non-Instructional Employee

301 Employees

In 2023, the most common positions for instructional staff at University of Richmond were Associate professor with 141 employees, Professor with 135 employees, and No academic rank with 72 employees.

In 2023, the most common positions for non-instructional staff at University of Richmond were Service with 301 employees, Office and Administrative Support with 176 employees, and Management with 164 employees.

Instructors by Academic Rank and Sex

Most Common Demographic (2023)

Male Associate professor
Male Professor
Female Associate professor

In 2023, the most common demographic for instructional staff at University of Richmond was Male Associate professor with 77 employees, Male Professor with 73 employees, and Female Associate professor with 64 employees.

This chart shows the sex split between each academic rank present at University of Richmond.

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