$4,821

Avg. Federal Grant

$4,573

Avg. Federal Loan

$28,637,872

Total Aid Awarded

Alvernia University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

84%

Total Aid Amount Average Total Aid Awarded per year.

$28.638M

Financial Aid Official Website

https://www.alvernia.edu/admissions-aid/financial-aid

Notably, almost all of the university students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $18,423,275. One can visit AU's financial aid page at https://www.alvernia.edu/admissions-aid/financial-aid for more information. The total percentage of candidates applying to Alvernia University who receive the Federal Grant is 41%. Meanwhile, 100% of the applicants receive the Student Grant and 100% are awarded the Institution Grant, while 41% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,195, and the same stands at $2,936 for State Grant awardees and $17,544 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $5,184. 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. Those with a family income below $30,000 per annum, would get an average federal aid of $24,785 in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $21,725 and $21,863, respectively. On the other hand, the average federal aid stands at $18,352 for those with an annual family income between $75,001 and $110,000, and at $14,701 for an income more than $110,000. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At Alvernia University, the percentage of candidates who opt to avail of student loans is around 98%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

39%

State Grant Aid

44%

Institution Grant Aid

99%

Pell Grant

39%

Average Aid Awarded

Federal Grant Aid

$4,821

State Grant Aid

$3,109

Institution Grant Aid

$16,445

Pell Grant

$4,447

It is important to know how many students are getting such aids, as it gives the students a clear understanding of what to expect from each form of aid they experience. The moment they apply for university, everybody is eligible for federal assistance, but the important point to raise is how much and to whom is given that assistance.

When it comes to grants, students get the opportunity to take up different grants; federal, institutional, or state grants.

  • Around 39% of the students receive Federal Grant Aid, which amounts to an average of US$4,821.

  • 39% of the students receive Pell Grants, which amount to an average of around US$4,447.

  • Approximately 44% of the students receive state grants at an average of around US$3,109.

  • 99% of the students receive institutional grants, which amount to an average of around US$16,445.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$24,973

$30,001 - $48,000

$19,448

$48,001 - $75,000

$20,666

$75,001 - $110,000

$18,199

Over $110,000

$15,811

It is important to know how many students are getting such aids, as it gives the students a clear understanding of what to expect from each form of aid they experience. The moment they apply for university, everybody is eligible for federal assistance, but the important point to raise is how much and to whom is given that assistance.

For a student who has a family income ranging from US$0 - $30,000, the average federal aid provided is US$24,973, whereas a student having a family income ranging from $30,001 - $48,000 the average federal aid is US$19,448. The student who has a family income ranging from $48,001 - $75,000 the average federal aid provided is US$20,666, whereas the student having an annual income ranging from $75,001 - $110,000 the average federal provided is around US$18,199. And the student has a yearly income range greater than $110,000; the average federal aid provided is $15,811.

Student Loans for Alvernia University

Average Loan Amount Average Loan Amount received per year.

$8,314/Year

Students Taking Out Loans

97%

Loan Default Rate

8.2%

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