$5,135

Avg. Federal Grant

$5,865

Avg. Federal Loan

$21,705,496

Total Aid Awarded

Northwood University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

68%

Total Aid Amount Average Total Aid Awarded per year.

$21.705M

Financial Aid Official Website

www.northwood.edu/financial-aid/applying-for-financial-aid

Such schemes include AIADA/John E. Andrews Endowed Scholarship, AIADA/John E. Andrews Memorial Scholarship, Accounting Alumni Endowed Scholarship, and Adoma Accounting Scholarship. It is interesting to note that, every year, around 98% of students at NU receive some kind of financial aid, while the total amount of assistance/loans provided is $17,089,980. More information regarding the financial assistance schemes can be accessed on NU’s official financial aid page at http://www.northwood.edu/financial-aid/applying-for-financial-aid. Notably, a total of 28% of the applicants to Northwood University receive the Federal Grant every year. In comparison, 96% of the students are awarded the Student Grant, 95% get the Institution Grant, and 28% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,371, and the same stands at $3,056 for State Grant awardees and $17,749 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,378. 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. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $18,458 per year. The average aid amount stands at $15,444 for an annual family income between $30,001 and $48,000. This amount comes to $16,768 for those who fall under the $48,001-$75,000 family income bracket. Those with an annual income level of $75,001-$110,000 would receive $13,632, while candidates with more than $110,000 of family income receive an average federal aid of $11,383. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 86% of the applicants to Northwood University opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

29%

State Grant Aid

47%

Institution Grant Aid

98%

Pell Grant

29%

Average Aid Awarded

Federal Grant Aid

$5,135

State Grant Aid

$2,488

Institution Grant Aid

$14,666

Pell Grant

$4,784

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$22,462

$30,001 - $48,000

$21,234

$48,001 - $75,000

$19,266

$75,001 - $110,000

$15,156

Over $110,000

$14,231

Student Loans for Northwood University

Average Loan Amount Average Loan Amount received per year.

$8,714/Year

Students Taking Out Loans

86%

Loan Default Rate

6.9%

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