$4,377

Avg. Federal Grant

$5,231

Avg. Federal Loan

$49,247,407

Total Aid Awarded

James Madison University (JMU) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

35%

Total Aid Amount Average Total Aid Awarded per year.

$49.247M

Financial Aid Official Website

www.jmu.edu/finaid

In order to make the University courses a bit more affordable, James Madison University offers an option of scholarships, grants, student loans, and work opportunities. The amount of financial aid provided by the University depends on the income profile of the students which in turn affects the Net Price payable.

  • The students who are opting for any sort of financial aid must fill the federal school code (FAFSA code) which is 003721.

  • One must provide residency proof and family income proof before applying for financial assistance.

  • A total of $49,247,407 is awarded as financial aid every year.

  • The average institutional aid received per year sums up to $6,821 that is benefited 16% of the net student population.

Scholarships

JMU scholarships are offered on both merit and program commitment. To qualify, the high school students must be a senior graduating and have received a minimum GPA of 3.5. The college has institutional scholarships for non-traditional students changing careers that are based on both merit and financial need, and which are determined once a valid FAFSA has been completed. The scholarship award is contingent upon meeting several criteria successfully.

College also offers institutional scholarships for adult students pursuing court reporting who demonstrate a sincere desire and commitment to become a professional reporter.

Scholarships provided by the Key College are mentioned below:

  • High School Scholarships, are offered on both merit and program commitment, students must have to score a minimum GPA score of 3.0 to be in consideration.

  • Institutional Scholarships are offered to adult students who demonstrate a sincere desire to become a professional reporter.

  • Veteran Scholarships are offered to any veteran of the United States Armed Forces or spouse.

Grants

The federal government provides grants for students attending college or career school. Most types of grants, unlike loans, are sources of free money that generally do not have to be repaid.

Federal Pell Grant

A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor's or a professional degree. Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added.

Federal SEOG

The Federal Supplemental Educational Opportunity Grant is designed to provide additional assistance to students. To be eligible, a student must complete the FAFSA, have the lowest EFC possible, and be enrolled full time. Funding for the SEOG grant is limited, so apply as soon as possible.

Loans

Personal student loans offered by the JMU helps to supply the necessary funds to complete the student's education. Loan options for the students of JMU are given below:

Federal Direct Subsidized Loans

  • Do not accrue interest while the student is enrolled at least half-time and during the six-month loan grace period before repayment begins.

  • Are need-based as determined by the FAFSA.

  • Only undergraduate students are eligible for a subsidized loan.

  • Time limitation on Direct Subsidized Loan eligibility.

Federal Direct Unsubsidized Loans

  • Accrue interest at a low fixed interest rate immediately after the loan has disbursed.

  • Are not need-based.

  • Are available to both Undergraduate and Graduate students.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

15%

State Grant Aid

13%

Institution Grant Aid

16%

Pell Grant

15%

Average Aid Awarded

Federal Grant Aid

$4,377

State Grant Aid

$5,820

Institution Grant Aid

$6,821

Pell Grant

$4,166

Financial Aid is any assistance given to the students to support their educational cost.  The four types of financial aid offered are scholarships, grants, loans, and work-study programs. It is given on the basis of need or on a merit basis.

Now let’s look at the number of students availing this financial assistance are:

  • An estimated 15% of the students undergoing any University Major program avails a Federal Grant Aid worth $4,377.

  • 15% of students are benefited by the Pell Grants worth $4,166.

  • The State Grant Aid provides assistance of $5,820 to 13% of the student population.

  • 16% of the students avail Institutional Grant Aid worth $6,821.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$12,581

$30,001 - $48,000

$10,955

$48,001 - $75,000

$7,595

$75,001 - $110,000

$1,957

Over $110,000

$331

The Federal-Aid provided by the University depends on the Net Family income:

  • For income range $0 to $30,000, the average Federal Aid issued $12,581.

  • For $30,001 to $48,000, the net assistance given becomes around $10,955.

  • Income ranges from $48,001 to $75,000, the aid amount becomes $7,595.

  • For more than $75,001 to $110,000, the average Federal Aid is $1,957.

  • For income more than the above range, the payable net price would be $331.

Student Loans for James Madison University (JMU)

Average Loan Amount Average Loan Amount received per year.

$8,401/Year

Students Taking Out Loans

43%

Loan Default Rate

2.3%

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