$5,861

Avg. Federal Grant

$6,251

Avg. Federal Loan

$141,441,665

Total Aid Awarded

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Embry-Riddle Aeronautical University (ERAU) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

86%

Total Aid Amount Average Total Aid Awarded per year.

$141.442M

Financial Aid Official Website

daytonabeach.erau.edu/financial-aid/index.html

It is interesting to note that, every year, around 95% of students at ERAUDB receive some kind of financial aid, while the total amount of assistance/loans provided is $18,522,058. More information regarding the financial assistance schemes can be accessed on ERAUDB’s official financial aid page at http://daytonabeach.erau.edu/financial-aid/index.html. Notably, a total of 28% of the applicants to Embry-Riddle Aeronautical University-Daytona Beach receive the Federal Grant every year. In comparison, 95% of the students are awarded the Student Grant, 94% get the Institution Grant, and 28% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,615, and the same stands at $7,185 for State Grant awardees and $13,163 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,988. 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 $21,573 in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $22,726 and $18,413, respectively. On the other hand, the average federal aid stands at $16,149 for those with an annual family income between $75,001 and $110,000, and at $14,257 for an income more than $110,000. 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. Every year, around 53% of the applicants to Embry-Riddle Aeronautical University-Daytona Beach opt for student loans.

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Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

28%

State Grant Aid

31%

Institution Grant Aid

96%

Pell Grant

28%

Average Aid Awarded

Federal Grant Aid

$5,861

State Grant Aid

$6,140

Institution Grant Aid

$15,510

Pell Grant

$4,897

The ERAU financial data is provided to you in a well sorted manner for to help you understand how the financial aid the university provides to its students is distributed among them.

  • The federal and Pell grants are received by 28% students up to an amount of $5,861 and $4,897 respectively.

  • 31% students apply for the state grants and get an amount of $6,140 on an average.

  • The majority of 96% students are offered institutional grants of an amount of $15,510.

  • 60% students go for a student loan of $12,561.

  • The average amount of federal loans is $6,251 and are received by 86% students.

  • The university spends a massive amount of $141,441,665 on providing financial aid to their candidates.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$26,193

$30,001 - $48,000

$25,323

$48,001 - $75,000

$22,231

$75,001 - $110,000

$19,232

Over $110,000

$17,862

Another way of evaluating the financial aid figures would be to look at it from the family income viewpoint.

It has been noted that a family income lower than $30,000 will get financial aid up to an amount of $26,193. Family income ranging between $30,001 to $48,000 will get $25,323. The income bracket of $48,001 to $75,000 and $75,001 to $110,000 might get an aid of $22,231 and 19,232 respectively. The least amount of $17,862 is likely to be received as a financial aid by the income category above $110,000. 

Student Loans for Embry-Riddle Aeronautical University (ERAU)

Average Loan Amount Average Loan Amount received per year.

$12,561/Year

Students Taking Out Loans

60%

Loan Default Rate

N/A

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