$5,453

Avg. Federal Grant

$5,402

Avg. Federal Loan

$87,282,779

Total Aid Awarded

Monmouth University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

96%

Total Aid Amount Average Total Aid Awarded per year.

$87.283M

Financial Aid Official Website

www.monmouth.edu/university/cost-and-financial-aid.aspx

Interestingly, almost all of the students at MU receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $21,104,812 in a year. For additional information about financial assistance schemes, one can head over to MU’s financial aid page at http://www.monmouth.edu/university/cost-and-financial-aid.aspx. The total percentage of candidates applying to Monmouth University who receive the Federal Grant is 33%. Meanwhile, 99% of the applicants receive the Student Grant and 99% are awarded the Institution Grant, while 33% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,724, while the same comes to $9,298 for State Grant receivers and $18,958 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,945. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Those with a family income below $30,000 per annum, would get an average federal aid of $30,386 in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $30,382 and $23,716, respectively. On the other hand, the average federal aid stands at $16,707 for those with an annual family income between $75,001 and $110,000, and at $13,317 for an income more than $110,000. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. At Monmouth University, the percentage of candidates who opt to avail of student loans is around 59%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

33%

State Grant Aid

30%

Institution Grant Aid

97%

Pell Grant

33%

Average Aid Awarded

Federal Grant Aid

$5,453

State Grant Aid

$10,178

Institution Grant Aid

$17,770

Pell Grant

$4,839

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$32,718

$30,001 - $48,000

$33,612

$48,001 - $75,000

$25,189

$75,001 - $110,000

$19,553

Over $110,000

$15,632

Student Loans for Monmouth University

Average Loan Amount Average Loan Amount received per year.

$8,744/Year

Students Taking Out Loans

72%

Loan Default Rate

3.8%

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