$4,670

Avg. Federal Grant

$5,559

Avg. Federal Loan

$34,243,618

Total Aid Awarded

Methodist University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

87%

Total Aid Amount Average Total Aid Awarded per year.

$34.244M

Financial Aid Official Website

www.methodist.edu/financial-aid

Among them are scholarship programs such as Carnegie Dartlet $10,000 Scholarship, Community Service Scholarship for Multicultural Students, North Carolina Student Incentive Grant, and Triangle Scholarship Program. 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 $6,192,815 in a year. More information regarding the financial assistance schemes can be accessed on MU’s official financial aid page at http://www.methodist.edu/financial-aid. The total percentage of candidates applying to Methodist University who receive the Federal Grant is 45%. In comparison, 99% of the students are awarded the Student Grant, 98% get the Institution Grant, and 45% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,004, while the same comes to $4,694 for State Grant receivers and $18,364 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,386. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Those with a family income below $30,000 per annum, would get an average federal aid of $23,997 in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $24,075, while those falling in the $48,001-$75,000 income category get $21,240 a year. On the other hand, the average federal aid stands at $19,093 for those with an annual family income between $75,001 and $110,000, and at $16,467 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. 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 Methodist University, the percentage of candidates who opt to avail of student loans is around 72%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

48%

State Grant Aid

37%

Institution Grant Aid

99%

Pell Grant

48%

Average Aid Awarded

Federal Grant Aid

$4,670

State Grant Aid

$4,759

Institution Grant Aid

$17,995

Pell Grant

$4,271

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$23,154

$30,001 - $48,000

$23,961

$48,001 - $75,000

$23,025

$75,001 - $110,000

$20,748

Over $110,000

$17,030

Student Loans for Methodist University

Average Loan Amount Average Loan Amount received per year.

$7,363/Year

Students Taking Out Loans

74%

Loan Default Rate

10.3%

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