$5,063

Avg. Federal Grant

$5,976

Avg. Federal Loan

$42,015,920

Total Aid Awarded

Otterbein University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

89%

Total Aid Amount Average Total Aid Awarded per year.

$42.016M

Financial Aid Official Website

www.otterbein.edu/public/FutureStudents/FinancialAidAndScholarships.aspx

Among them are scholarship programs such as Dr. Allen Smith Memorial Scholarship, Education Foundation Scholarship, Educational Assistance Commitment Grant, and James R. Hunt Memorial Scholarship. Notably, almost all of the university students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $12,999,876. One can visit OU's financial aid page at http://www.otterbein.edu/public/FutureStudents/FinancialAidAndScholarships.aspx for more information. The total percentage of candidates applying to Otterbein University who receive the Federal Grant is 31%. Meanwhile, 100% of the applicants receive the Student Grant and 100% are awarded the Institution Grant, while 31% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,182, and the same stands at $2,992 for State Grant awardees and $18,579 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,473. 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 $26,107 on average in a year. The average aid amount stands at $23,912 for an annual family income between $30,001 and $48,000. This amount comes to $20,890 for those who fall under the $48,001-$75,000 family income bracket. On the other hand, the average federal aid stands at $18,714 for those with an annual family income between $75,001 and $110,000, and at $17,874 for an income more than $110,000. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. 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 Otterbein University, the percentage of candidates who opt to avail of student loans is around 92%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

32%

State Grant Aid

24%

Institution Grant Aid

100%

Pell Grant

32%

Average Aid Awarded

Federal Grant Aid

$5,063

State Grant Aid

$2,864

Institution Grant Aid

$17,936

Pell Grant

$4,519

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$27,008

$30,001 - $48,000

$25,835

$48,001 - $75,000

$20,614

$75,001 - $110,000

$18,375

Over $110,000

$17,803

Student Loans for Otterbein University

Average Loan Amount Average Loan Amount received per year.

$7,539/Year

Students Taking Out Loans

92%

Loan Default Rate

4%

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