$4,992

Avg. Federal Grant

$6,055

Avg. Federal Loan

$128,286,774

Total Aid Awarded

Ball State University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

69%

Total Aid Amount Average Total Aid Awarded per year.

$128.287M

Financial Aid Official Website

www.bsu.edu/finaid

As many as 91% of the students at BSU get some sort of financial aid, and the total amount of assistance/loans provided is more than $62,717,590 in a year. More information regarding the financial assistance schemes can be accessed on BSU’s official financial aid page at http://www.bsu.edu/finaid. Notably, a total of 37% of the applicants to Ball State University receive the Federal Grant every year. Meanwhile, 76% of the applicants receive the Student Grant and 60% are awarded the Institution Grant, while 37% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,200, while the same comes to $7,438 for State Grant receivers and $7,501 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $5,048. 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. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 64% of the applicants to Ball State University opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

37%

State Grant Aid

33%

Institution Grant Aid

58%

Pell Grant

37%

Average Aid Awarded

Federal Grant Aid

$4,992

State Grant Aid

$7,523

Institution Grant Aid

$8,010

Pell Grant

$4,805

The financial breakdown indulges into the proportion of students awarded with certain grants as per their eligibility,academic excellence and full-time enrollment. To reflect the average aids offered to students, its mention worthy that:

  • 37% of the students receive Federal Grants which comprises an average aid of US$4,992. 37% of the students receive Pell Grants which comprises an average aid of US$4,805.

  • 33% of the students receive State Grants which comprises an average aid of US$7,523.

  • 58% of the students receive Institutional Grants which comprises an average aid of US$8,010.

  • The amount of federal loan provided to students on an average reaches nearly up  to US$5,248.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$15,364

$30,001 - $48,000

$12,829

$48,001 - $75,000

$8,667

$75,001 - $110,000

$4,713

Over $110,000

$2,638

This displays the distinctive range of federal aids offered to students based on their family income, with financial aid for these ranges fluctuating between US$2,638 and US$15,364. As observed, the highest amount of finaid offered to students belongs to the family income group US$0 - US$30,000 and the lowest finaid is offered to the group with income more than US$110,000. 

The average financial aid amounts to US$8,842 which reflects that the greatest percentage of students will receive the financial aid amounting US$8,667 falling under the income category ranging from US$48,001- US$75,000.

Students’ families with income less than US$75,000, will be offered with financial aid reaching nearly US$15,564, US$12,829and US$8,667. On the other hand, families with income more than US$75,000, will be offered with financial aid reaching nearly US$4,713 or US$2,638.

Student Loans for Ball State University

Average Loan Amount Average Loan Amount received per year.

$7,831/Year

Students Taking Out Loans

66%

Loan Default Rate

5.3%

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