$5,244

Avg. Federal Grant

$5,774

Avg. Federal Loan

$48,555,410

Total Aid Awarded

Ohio Wesleyan University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

99%

Total Aid Amount Average Total Aid Awarded per year.

$48.555M

Financial Aid Official Website

finaid.owu.edu/

Among them are scholarship programs such as Carnegie Dartlet $10,000 Scholarship, Clergy/Spouse of Clergy Award, Community Service Scholarship for Multicultural Students, and Dr. Allen Smith Memorial Scholarship. It is interesting to note that almost every student at OWU receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $6,533,931. One can visit OWU's financial aid page at http://finaid.owu.edu/ for more information. At OWU, the total percentage of applicants who receive the Federal Grant stands at 32%. In comparison, 99% of the students are awarded the Student Grant, 99% get the Institution Grant, and 32% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,203, and the same stands at $2,892 for State Grant awardees and $31,609 for Institution Grant recipients. And, for the Pell Grant awardees, the average aid amount is $4,553. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Those with a family income below $30,000 per annum, would get an average federal aid of $38,830 in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $38,251, while those falling in the $48,001-$75,000 income category get $36,723 a year. Those with an annual income level of $75,001-$110,000 would receive $31,412, while candidates with more than $110,000 of family income receive an average federal aid of $27,420. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund 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. At OWU, an estimated number of 66% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

40%

State Grant Aid

16%

Institution Grant Aid

100%

Pell Grant

40%

Average Aid Awarded

Federal Grant Aid

$5,244

State Grant Aid

$2,858

Institution Grant Aid

$29,363

Pell Grant

$4,478

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$38,772

$30,001 - $48,000

$38,271

$48,001 - $75,000

$34,931

$75,001 - $110,000

$33,391

Over $110,000

$27,586

Student Loans for Ohio Wesleyan University

Average Loan Amount Average Loan Amount received per year.

$8,228/Year

Students Taking Out Loans

69%

Loan Default Rate

2.9%

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