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UR offers ‘no loan’ financial aid to Richmond public school students
The University of Richmond is launching a “No Loan Program” in partnership with Richmond Public Schools, the university announced Wednesday. RPS graduates who attend the university can receive grants to pay for all demonstrated financial need — instead of loans that must be repaid. “We know that the thought of taking out loans may create […]
Va. Small Business Financing Authority didn’t loan out $28M
The Virginia Small Business Financing Authority (VSBFA) disbursed only 8% of its available funds in 2018 and just 10% in 2019 for loans, grants and bonds to help small businesses — holding on to $28 million, according to a study released Monday by the Joint Legislative Audit & Review Commission (JLARC). A division of the […]
Lawmakers advance bills regulating consumer lending
RICHMOND, Va. — Del. Mark Levine recalls receiving a $1,000 loan offer from a company with a 299% interest rate buried deep in the fine print. “As the company compounds daily at this interest rate, this loan would cost anyone desperate enough to accept this offer more than $20,000 in interest and fees if they […]
