$4,646

Avg. Federal Grant

$5,367

Avg. Federal Loan

$23,270,157

Total Aid Awarded

Saint Martins University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

78%

Total Aid Amount Average Total Aid Awarded per year.

$23.270M

Financial Aid Official Website

https://www.stmartin.edu/admissions-aid/financial-aid

It is interesting to note that, every year, around 98% of students at SMU receive some kind of financial aid, while the total amount of assistance/loans provided is $4,691,064. More information regarding the financial assistance schemes can be accessed on SMU’s official financial aid page at https://www.stmartin.edu/admissions-aid/financial-aid. At SMU, the total percentage of applicants who receive the Federal Grant stands at 40%. Meanwhile, 98% of the applicants receive the Student Grant and 97% are awarded the Institution Grant, while 40% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,990, the State Grant receivers and Institution Grant beneficiaries get $8,812 and $21,896, respectively. And, for the Pell Grant awardees, the average aid amount is $4,685. 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 $28,723 on average in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $32,280 and $27,674, respectively. Those with an annual income level of $75,001-$110,000 would receive $22,792, while candidates with more than $110,000 of family income receive an average federal aid of $19,831. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for 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 Saint Martin's University, the percentage of candidates who opt to avail of student loans is around 58%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

41%

State Grant Aid

27%

Institution Grant Aid

99%

Pell Grant

41%

Average Aid Awarded

Federal Grant Aid

$4,646

State Grant Aid

$9,508

Institution Grant Aid

$21,732

Pell Grant

$4,384

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$33,904

$30,001 - $48,000

$31,323

$48,001 - $75,000

$27,402

$75,001 - $110,000

$23,994

Over $110,000

$20,475

Student Loans for Saint Martins University

Average Loan Amount Average Loan Amount received per year.

$6,724/Year

Students Taking Out Loans

73%

Loan Default Rate

2.8%

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