Otterbein University Financial Aid and Scholarships
Students Receiving Aid
89%
Total Aid Amount
$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%.
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