$5,154

Avg. Federal Grant

$4,897

Avg. Federal Loan

$70,018,955

Total Aid Awarded

Northern Kentucky University (NKU) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

76%

Total Aid Amount Average Total Aid Awarded per year.

$70.019M

Financial Aid Official Website

inside.nku.edu/financialaid.html

Such schemes include Anthony Munoz Foundation Scholarship Fund, Educational Foundation of the KYCPA Scholarships, and Mary Jo Young Dual Credit Scholarship. It is interesting to note that, every year, around 99% of students at NKU receive some kind of financial aid, while the total amount of assistance/loans provided is $35,788,031. At NKU, the total percentage of applicants who receive the Federal Grant stands at 36%. Meanwhile, 98% of the applicants receive the Student Grant and 83% are awarded the Institution Grant, while 35% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,491, and the same stands at $2,380 for State Grant awardees and $6,222 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,995. 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. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. However, student loans attract a certain rate of interest at which the funds are borrowed. Candidates are also required to repay these loans within a given period. At Northern Kentucky University, the percentage of candidates who opt to avail of student loans is around 57%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

40%

State Grant Aid

67%

Institution Grant Aid

82%

Pell Grant

39%

Average Aid Awarded

Federal Grant Aid

$5,154

State Grant Aid

$2,363

Institution Grant Aid

$6,193

Pell Grant

$4,960

As shown in the table the breakdown includes Federal Grants, Pell Grant, Institutional Grants, and State grants with institutional grants having the highest percentage contribution of 82% with an average aid amount being $6,193.

The Pell grants average amount is $4,960 and serves 39% candidates. In addition to these, the state grants also cover up the expenses of 67% of pupils and the average of it is  $2,363. You might depend upon the institutional scholarships and grants as almost 82% of all students get hold of them and the average of them is $6,193.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$12,430

$30,001 - $48,000

$10,978

$48,001 - $75,000

$7,401

$75,001 - $110,000

$4,789

Over $110,000

$4,822

A student having an annual family income of less than $30,000 might face an aid amount of $12,430 as the net aid price. You will find this amount to be lowered up to $10,978 in case of an income between the range of $30,001-$48,000.

The aid price decreases gradually as we talk about higher income brackets. For example, a family income ranging from $48,001-$75,000 might make your net price look $7,401 and for a range of $75,001-$110,000, your net aid price will amount to $4,789.

Student Loans for Northern Kentucky University (NKU)

Average Loan Amount Average Loan Amount received per year.

$5,480/Year

Students Taking Out Loans

58%

Loan Default Rate

6.5%

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