LeTourneau University Financial Aid and Scholarships
Students Receiving Aid
58%
Total Aid Amount
$24.013M
Financial Aid Official Website
www.letu.edu/_Admissions/financial-aid/
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 $9,139,207. One can visit LU's financial aid page at http://www.letu.edu/_Admissions/financial-aid/ for more information. At LU, the total percentage of applicants who receive the Federal Grant stands at 32%. On the other hand, 100% of the candidates get the Student Grant, 98% receive the Institution Grant, and 32% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,246, and the same stands at $3,815 for State Grant awardees and $16,407 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,773. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Students whose family income per annum is less than $30,000 will receive a federal aid of $24,338 on average in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $23,256 and $20,480, respectively. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $18,172. And, for those with a family income of more than $110,000, the amount stands at $17,623. 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. Candidates are also required to repay these loans within a given period. At LU, an estimated number of 63% of the applicants choose to go for student loans.
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