$4,443

Avg. Federal Grant

$6,864

Avg. Federal Loan

$19,754,289

Total Aid Awarded

Averett University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

97%

Total Aid Amount Average Total Aid Awarded per year.

$19.754M

Financial Aid Official Website

https://www.averett.edu/financial-aid/

Such schemes include Dean's Scholarship, Founders Scholarship, Phi Theta Kappa Scholarship, and Presidential Scholarship. It is interesting to note that almost every student at AU receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $4,932,024. One can visit AU's financial aid page at https://www.averett.edu/financial-aid/ for more information. Notably, a total of 47% of the applicants to Averett University receive the Federal Grant every year. On the other hand, 100% of the candidates get the Student Grant, 100% receive the Institution Grant, and 45% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,331, and the same stands at $4,142 for State Grant awardees and $18,224 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,566. 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. Students whose family income per annum is less than $30,000 will receive a federal aid of $23,589 on average in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $23,047, while those falling in the $48,001-$75,000 income category get $19,343 a year. Those with an annual income level of $75,001-$110,000 would receive $20,989, while candidates with more than $110,000 of family income receive an average federal aid of $18,092. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Candidates are also required to repay these loans within a given period. Every year, around 96% of the applicants to Averett University opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

54%

State Grant Aid

48%

Institution Grant Aid

100%

Pell Grant

51%

Average Aid Awarded

Federal Grant Aid

$4,443

State Grant Aid

$3,270

Institution Grant Aid

$17,159

Pell Grant

$4,640

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$24,737

$30,001 - $48,000

$39,506

$48,001 - $75,000

$22,176

$75,001 - $110,000

$20,673

Over $110,000

$17,284

Student Loans for Averett University

Average Loan Amount Average Loan Amount received per year.

$7,896/Year

Students Taking Out Loans

82%

Loan Default Rate

8.2%

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