$4,375

Avg. Federal Grant

$5,744

Avg. Federal Loan

$27,193,485

Total Aid Awarded

Mount Vernon Nazarene University (MVNU) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

88%

Total Aid Amount Average Total Aid Awarded per year.

$27.193M

Financial Aid Official Website

www.mvnu.edu/undergraduate/financialaid

Such schemes include Carnegie Dartlet $10,000 Scholarship, Community Service Scholarship for Multicultural Students, Dr. Allen Smith Memorial Scholarship, and Education Foundation Scholarship. It is interesting to note that almost every student at MVNU receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $7,596,660. The total percentage of candidates applying to Mount Vernon Nazarene University who receive the Federal Grant is 36%. Meanwhile, 100% of the applicants receive the Student Grant and 99% are awarded the Institution Grant, while 35% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,268, and the same stands at $2,955 for State Grant awardees and $18,682 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,077. 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. Candidates are also required to repay these loans within a given period. At MVNU, an estimated number of 73% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

38%

State Grant Aid

23%

Institution Grant Aid

97%

Pell Grant

37%

Average Aid Awarded

Federal Grant Aid

$4,375

State Grant Aid

$2,993

Institution Grant Aid

$17,744

Pell Grant

$4,246

A federal grant is also an option for you if you meet the eligibility criteria, 38% of candidates cover up their expenses and the average of it is $4,375. The Pell grants average amount is $4,246 and serves 37% candidates.

In addition to these, the state grants also cover up the expenses of 23% of pupils and the average of it is  $2,993. You might depend upon the institutional scholarships and grants as almost 97% of all students get hold of them and the average of them is $17,744.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$22,712

$30,001 - $48,000

$23,058

$48,001 - $75,000

$19,873

$75,001 - $110,000

$19,033

Over $110,000

$16,645

The average federal aid at MVNU is etimated according to the family income of the student. 

Depending on the financial aid available to the family or the student, the income bracket may either pay more or less than the overall average costs. Incomes between $0-30,000 receive the aid of about $22,712.

A slight change is observed with the change in range; income between $30,001-48,000 receives $23,058. For incomes ranging between $48,001-75,000 the aid provided is $19,873. When the income range increases the aid amount decreases. $110,000 and higher receive an aid amount of $16,645.

Student Loans for Mount Vernon Nazarene University (MVNU)

Average Loan Amount Average Loan Amount received per year.

$7,236/Year

Students Taking Out Loans

76%

Loan Default Rate

5.7%

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