$5,115

Avg. Federal Grant

$6,011

Avg. Federal Loan

$15,901,158

Total Aid Awarded

McMurry University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

90%

Total Aid Amount Average Total Aid Awarded per year.

$15.901M

Financial Aid Official Website

financial-aid.mcm.edu/

As many as 99% of the students at MU get some sort of financial aid, and the total amount of assistance/loans provided is more than $5,748,521 in a year. Notably, a total of 53% of the applicants to McMurry University receive the Federal Grant every year. In comparison, 98% of the students are awarded the Student Grant, 96% get the Institution Grant, and 52% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,090, while the same comes to $3,136 for State Grant receivers and $14,588 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,902. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 80% of the applicants to McMurry University opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

53%

State Grant Aid

56%

Institution Grant Aid

98%

Pell Grant

53%

Average Aid Awarded

Federal Grant Aid

$5,115

State Grant Aid

$3,199

Institution Grant Aid

$13,072

Pell Grant

$4,723

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$21,015

$30,001 - $48,000

$19,697

$48,001 - $75,000

$18,502

$75,001 - $110,000

$14,551

Over $110,000

$15,644

Student Loans for McMurry University

Average Loan Amount Average Loan Amount received per year.

$7,502/Year

Students Taking Out Loans

78%

Loan Default Rate

14.6%

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