$4,507

Avg. Federal Grant

$5,428

Avg. Federal Loan

$28,460,389

Total Aid Awarded

Mars Hill University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

98%

Total Aid Amount Average Total Aid Awarded per year.

$28.460M

Financial Aid Official Website

www.mhu.edu/admissions/financial-aid

Such schemes include Endowed Scholarship, North Carolina Student Incentive Grant, Scholarship and Grant Program, and Triangle Scholarship Program. It is interesting to note that, every year, around 98% of students at MHU receive some kind of financial aid, while the total amount of assistance/loans provided is $6,038,036. For additional information about financial assistance schemes, one can head over to MHU’s financial aid page at http://www.mhu.edu/admissions/financial-aid. At MHU, the total percentage of applicants who receive the Federal Grant stands at 64%. Meanwhile, 98% of the applicants receive the Student Grant and 98% are awarded the Institution Grant, while 64% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,674, while the same comes to $4,854 for State Grant receivers and $22,519 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,340. 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. Those with a family income below $30,000 per annum, would get an average federal aid of $27,224 in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $27,246 and $25,227, respectively. On the other hand, the average federal aid stands at $21,903 for those with an annual family income between $75,001 and $110,000, and at $17,844 for an income more than $110,000. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Candidates are also required to repay these loans within a given period. At MHU, an estimated number of 82% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

63%

State Grant Aid

66%

Institution Grant Aid

98%

Pell Grant

63%

Average Aid Awarded

Federal Grant Aid

$4,507

State Grant Aid

$4,833

Institution Grant Aid

$21,452

Pell Grant

$4,362

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$29,121

$30,001 - $48,000

$26,592

$48,001 - $75,000

$28,230

$75,001 - $110,000

$28,914

Over $110,000

$20,313

Student Loans for Mars Hill University

Average Loan Amount Average Loan Amount received per year.

$7,504/Year

Students Taking Out Loans

79%

Loan Default Rate

14.4%

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