$6,350

Avg. Federal Grant

$6,739

Avg. Federal Loan

$31,212,832

Total Aid Awarded

Alcorn State University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

89%

Total Aid Amount Average Total Aid Awarded per year.

$31.213M

Financial Aid Official Website

www.alcorn.edu/admissions/financial-aid

Notably, 88% of the students at Alcorn State University get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $16,929,330. For additional information about financial assistance schemes, one can head over to ASU’s financial aid page at http://www.alcorn.edu/admissions/financial-aid. The total percentage of candidates applying to Alcorn State University who receive the Federal Grant is 70%. In comparison, 88% of the students are awarded the Student Grant, 47% get the Institution Grant, and 70% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,917, while the same comes to $2,991 for State Grant receivers and $8,450 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $5,494. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Alcorn State University, the percentage of candidates who opt to avail of student loans is around 69%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

86%

State Grant Aid

16%

Institution Grant Aid

62%

Pell Grant

86%

Average Aid Awarded

Federal Grant Aid

$6,350

State Grant Aid

$2,531

Institution Grant Aid

$9,683

Pell Grant

$5,890

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$10,172

$30,001 - $48,000

$8,631

$48,001 - $75,000

$6,027

$75,001 - $110,000

$4,001

Over $110,000

$1,970

Student Loans for Alcorn State University

Average Loan Amount Average Loan Amount received per year.

$6,739/Year

Students Taking Out Loans

86%

Loan Default Rate

21.4%

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