$5,092

Avg. Federal Grant

$4,942

Avg. Federal Loan

$19,252,788

Total Aid Awarded

Newman University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

36%

Total Aid Amount Average Total Aid Awarded per year.

$19.253M

Financial Aid Official Website

www.newmanu.edu/attend-nu/financial-aid

It is interesting to note that, every year, around 97% of students at NU receive some kind of financial aid, while the total amount of assistance/loans provided is $4,384,555. More information regarding the financial assistance schemes can be accessed on NU’s official financial aid page at http://www.newmanu.edu/attend-nu/financial-aid. Notably, a total of 34% of the applicants to Newman University receive the Federal Grant every year. On the other hand, 96% of the candidates get the Student Grant, 96% receive the Institution Grant, and 34% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,583, and the same stands at $3,259 for State Grant awardees and $19,624 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,496. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. Students whose family income per annum is less than $30,000 will receive a federal aid of $24,868 on average in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $22,541, while those falling in the $48,001-$75,000 income category get $22,993 a year. Those with an annual income level of $75,001-$110,000 would receive $20,326, while candidates with more than $110,000 of family income receive an average federal aid of $16,809. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for 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. Every year, around 53% of the applicants to Newman University opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

43%

State Grant Aid

39%

Institution Grant Aid

99%

Pell Grant

43%

Average Aid Awarded

Federal Grant Aid

$5,092

State Grant Aid

$3,348

Institution Grant Aid

$19,820

Pell Grant

$4,768

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$26,400

$30,001 - $48,000

$25,858

$48,001 - $75,000

$24,047

$75,001 - $110,000

$19,707

Over $110,000

$19,383

Student Loans for Newman University

Average Loan Amount Average Loan Amount received per year.

$5,296/Year

Students Taking Out Loans

50%

Loan Default Rate

6.4%

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