The 22 year-old, who can play in either full-back position as well as in midfield, has joined up with Mark Robins' squad for a 93-day spell in time for Saturday's Championship visit of Doncaster Rovers.
Richards enjoyed a successful loan stint at promoted Crystal Palace last term but has made just one appearance - against Malmo in the Europa League - for the Swans this season.
"With Jack Hunt's departure and the recent injury that Calum Woods has suffered, we were looking to increase our options in that area of the pitch and Jazz is exactly the type of player we have here at the club," Robins told Town's official website.
"He is young, but has good experience of the Championship with Swansea City and last season's loan at Crystal Palace and now he is hungry for more.
"Swansea play good passing football and he fits the mould when it comes to playing in our side. He has a lot of quality both technically and physically and we're delighted to have him at the club."