$4,560

Avg. Federal Grant

$5,199

Avg. Federal Loan

$2,113,696

Total Aid Awarded

Franciscan Missionaries of Our Lady University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

90%

Total Aid Amount Average Total Aid Awarded per year.

$2.114M

Financial Aid Official Website

www.franu.edu/offices-services/office-of-financial-aid

It is interesting to note that, every year, around 94% of students at FMOLU receive some kind of financial aid, while the total amount of assistance/loans provided is $3,194,141. The total percentage of candidates applying to Franciscan Missionaries of Our Lady University who receive the Federal Grant is 41%. On the other hand, 88% of the candidates get the Student Grant, 52% receive the Institution Grant, and 41% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,183, and the same stands at $5,473 for State Grant awardees and $5,603 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,530. 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. 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 FMOLU, an estimated number of 47% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

48%

State Grant Aid

76%

Institution Grant Aid

44%

Pell Grant

43%

Average Aid Awarded

Federal Grant Aid

$4,560

State Grant Aid

$5,208

Institution Grant Aid

$5,631

Pell Grant

$4,979

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$9,347

$30,001 - $48,000

$10,527

$48,001 - $75,000

$9,545

$75,001 - $110,000

$4,066

Over $110,000

$5,139

Student Loans for Franciscan Missionaries of Our Lady University

Average Loan Amount Average Loan Amount received per year.

$6,150/Year

Students Taking Out Loans

51%

Loan Default Rate

7.4%

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