$4,879

Avg. Federal Grant

$5,972

Avg. Federal Loan

$28,146,804

Total Aid Awarded

Gwynedd Mercy University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

73%

Total Aid Amount Average Total Aid Awarded per year.

$28.147M

Financial Aid Official Website

www.gmercyu.edu/admissions-aid/financial-aid-tuition

Students can avail of scholarships provided by the university, such as Activities Grant, Alumni Association Scholarship in Memory of Mother Catherine McAuley, Carnegie Dartlet $10,000 Scholarship, and Catholic High School Tuition Grant, if they find educational expenses to be on the higher side. Notably, almost all of the university students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $12,503,316. Notably, a total of 40% of the applicants to Gwynedd Mercy University receive the Federal Grant every year. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 40% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $5,051, the State Grant receivers and Institution Grant beneficiaries get $3,512 and $18,760, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,605. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At GMU, an estimated number of 84% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

43%

State Grant Aid

57%

Institution Grant Aid

100%

Pell Grant

43%

Average Aid Awarded

Federal Grant Aid

$4,879

State Grant Aid

$3,626

Institution Grant Aid

$18,536

Pell Grant

$4,664

73% of students receive some form of aid by the university or federal government. The total aid awarded to the university is $28,146,804. Aid received through grants averages around 43% with the average grant aid received being $4,879.The Pell Grant Aid percentage accounts for 43% of the aid received with the average aid received is $4,664. The state awards 57% of aid with aid received averaging around $3,626. The university provides students with institutional grant aid of 100% with the aid received averaging $18,536. 

87% of students receive financial aid in the form of loans. The average loan amount averages $10,308 with a default rate of 4.6%. The average aid awarded through federal loans amounts to $5,927. Based on a standard 10-year payment plan, the typical monthly loan payment ranges between $208-322 per month. Total debt after graduation averages $20,000-31,000

 

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$26,363

$30,001 - $48,000

$27,033

$48,001 - $75,000

$24,115

$75,001 - $110,000

$21,763

Over $110,000

$18,718

As shown in the table lower the family income higher is the amount of aid one can expect to receive. For those students who have a family income under $30,000 can expect to receive an aid amount of $26,363 while those with family income over $110,000 can expect to receive an aid amount of $18,718. This helps students who are coming from low-income homes to pay for their degree.

Student Loans for Gwynedd Mercy University

Average Loan Amount Average Loan Amount received per year.

$10,308/Year

Students Taking Out Loans

87%

Loan Default Rate

4.6%

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