$5,755

Avg. Federal Grant

$7,067

Avg. Federal Loan

$12,661,024

Total Aid Awarded

Florida Memorial University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

96%

Total Aid Amount Average Total Aid Awarded per year.

$12.661M

Financial Aid Official Website

www.fmuniv.edu/home/financial-aid

It is interesting to note that, every year, around 94% of students at FMU receive some kind of financial aid, while the total amount of assistance/loans provided is $5,541,244. One can visit FMU's financial aid page at http://www.fmuniv.edu/home/financial-aid for more information. The total percentage of candidates applying to Florida Memorial University who receive the Federal Grant is 76%. Meanwhile, 86% of the applicants receive the Student Grant and 17% are awarded the Institution Grant, while 76% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,867, while the same comes to $6,055 for State Grant receivers and $6,116 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $5,532. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Those with a family income below $30,000 per annum, would get an average federal aid of $10,253 in a year. The average aid amount stands at $9,500 for an annual family income between $30,001 and $48,000. This amount comes to $7,900 for those who fall under the $48,001-$75,000 family income bracket. On the other hand, the average federal aid stands at $5,900 for those with an annual family income between $75,001 and $110,000, and at $5,130 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. However, student loans attract a certain rate of interest at which the funds are borrowed. Candidates are also required to repay these loans within a given period. At FMU, an estimated number of 56% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

77%

State Grant Aid

77%

Institution Grant Aid

30%

Pell Grant

77%

Average Aid Awarded

Federal Grant Aid

$5,755

State Grant Aid

$5,564

Institution Grant Aid

$6,759

Pell Grant

$5,548

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$10,250

$30,001 - $48,000

$9,500

$48,001 - $75,000

$8,000

$75,001 - $110,000

$5,454

Over $110,000

$4,833

Student Loans for Florida Memorial University

Average Loan Amount Average Loan Amount received per year.

$7,172/Year

Students Taking Out Loans

72%

Loan Default Rate

13.2%

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