$4,812

Avg. Federal Grant

$5,248

Avg. Federal Loan

$57,997,757

Total Aid Awarded

College of William and Mary Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

49%

Total Aid Amount Average Total Aid Awarded per year.

$57.998M

Financial Aid Official Website

www.wm.edu/financialaid/

Among them are scholarship programs such as 1693 Scholars Program, James Monroe Scholars Program, Marie L. Rose Scholarship, and Virginia Military Survivors and Dependents Education Program. It is interesting to note that, every year, around 56% of students at WM receive some kind of financial aid, while the total amount of assistance/loans provided is $9,793,843. For additional information about financial assistance schemes, one can head over to WM’s financial aid page at http://www.wm.edu/financialaid/. Notably, a total of 10% of the applicants to William & Mary receive the Federal Grant every year. Meanwhile, 43% of the applicants receive the Student Grant and 42% are awarded the Institution Grant, while 10% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,942, while the same comes to $12,733 for State Grant receivers and $16,601 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,718. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. 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 WM, an estimated number of 26% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

13%

State Grant Aid

9%

Institution Grant Aid

43%

Pell Grant

13%

Average Aid Awarded

Federal Grant Aid

$4,812

State Grant Aid

$13,218

Institution Grant Aid

$18,649

Pell Grant

$4,807

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$36,389

$30,001 - $48,000

$34,385

$48,001 - $75,000

$25,509

$75,001 - $110,000

$18,215

Over $110,000

$6,964

Student Loans for College of William and Mary

Average Loan Amount Average Loan Amount received per year.

$7,654/Year

Students Taking Out Loans

25%

Loan Default Rate

1.4%