Saint Martins University Financial Aid and Scholarships
Students Receiving Aid
78%
Total Aid Amount
$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%.
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