Moody Bible Institute Financial Aid and Scholarships
Students Receiving Aid
87%
Total Aid Amount
$19.040M
Financial Aid Official Website
https://www.moody.edu/federal-financial-aid/
As many as 93% of the students at MBI get some sort of financial aid, and the total amount of assistance/loans provided is more than $6,257,705 in a year. One can visit MBI's financial aid page at https://www.moody.edu/federal-financial-aid/ for more information. Notably, a total of 34% of the applicants to Moody Bible Institute receive the Federal Grant every year. In comparison, 91% of the students are awarded the Student Grant, 88% get the Institution Grant, and 34% of the applicants receive the Pell Grant. On the other hand, the average aid received by the Pell Grant awardees is $3,963. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $4,644 per year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $4,917, while those falling in the $48,001-$75,000 income category get $3,093 a year. 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. Candidates are also required to repay these loans within a given period. Every year, around 53% of the applicants to Moody Bible Institute opt for student loans.
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