$5,394

Avg. Federal Grant

$7,566

Avg. Federal Loan

$42,292,819

Total Aid Awarded

Independence University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

84%

Total Aid Amount Average Total Aid Awarded per year.

$42.293M

Financial Aid Official Website

www.independence.edu

It is interesting to note that, every year, around 97% of students at IU receive some kind of financial aid, while the total amount of assistance/loans provided is $75,241,185. One can visit IU's financial aid page at http://www.independence.edu for more information. At IU, the total percentage of applicants who receive the Federal Grant stands at 87%. Meanwhile, 87% of the applicants receive the Student Grant and 14% are awarded the Institution Grant, while 83% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,504, and the same stands at $4,915 for State Grant awardees and $4,965 for Institution Grant recipients. And, for the Pell Grant awardees, the average aid amount is $5,758. 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 $5,014 in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $3,338, while those falling in the $48,001-$75,000 income category get $2,282 a year. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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 IU, an estimated number of 97% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

91%

State Grant Aid

1%

Institution Grant Aid

12%

Pell Grant

91%

Average Aid Awarded

Federal Grant Aid

$5,394

State Grant Aid

$4,348

Institution Grant Aid

$4,928

Pell Grant

$5,318

As shown in the table the breakdown includes Federal Grants, Pell Grants, state grants and institutional grants, with federal grants having the percentage contribution of 91% with an average aid amount being $5398.

Pell grants have a percentage of 91% with an average aid amount of $5318  than the State grant aid average of $4348.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,265

$30,001 - $48,000

$4,918

$48,001 - $75,000

$4,672

$75,001 - $110,000

$4,384

Over $110,000

N/A

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 $6265. This helps students who are coming from low-income homes to pay for their degrees.

Student Loans for Independence University

Average Loan Amount Average Loan Amount received per year.

$9,722/Year

Students Taking Out Loans

97%

Loan Default Rate

N/A

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