$6,421

Avg. Federal Grant

$5,676

Avg. Federal Loan

$139,416,242

Total Aid Awarded

Southern Methodist University (SMU) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

70%

Total Aid Amount Average Total Aid Awarded per year.

$139.416M

Financial Aid Official Website

www.smu.edu/Admission/FinancialAid

As many as 82% of the students at SMU get some sort of financial aid, and the total amount of assistance/loans provided is more than $8,964,267 in a year. More information regarding the financial assistance schemes can be accessed on SMU’s official financial aid page at http://www.smu.edu/Admission/FinancialAid. At SMU, the total percentage of applicants who receive the Federal Grant stands at 9%. On the other hand, 80% of the candidates get the Student Grant, 80% receive the Institution Grant, and 9% get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,376, the State Grant receivers and Institution Grant beneficiaries get $3,805 and $33,204, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,501. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $49,286 per year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $44,166 and $43,431, respectively. Those with an annual income level of $75,001-$110,000 would receive $40,559, while candidates with more than $110,000 of family income receive an average federal aid of $27,077. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Candidates are also required to repay these loans within a given period. Every year, around 22% of the applicants to Southern Methodist University opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

9%

State Grant Aid

8%

Institution Grant Aid

74%

Pell Grant

9%

Average Aid Awarded

Federal Grant Aid

$6,421

State Grant Aid

$3,910

Institution Grant Aid

$32,591

Pell Grant

$4,932

As shown in the table the breakdown includes Federal Grants, Pell Grants, state grants and institutional grants. Institutional grants have the highest percentage contribution of 74% with an average aid amount being $32,591. Pell grants have a percentage of 9% with an average aid amount of $4,932. State grants have aid averages of $3,910 with 8% aid. Federal grants have aid averages of $6,421 with 9% aid.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$42,951

$30,001 - $48,000

$48,619

$48,001 - $75,000

$43,474

$75,001 - $110,000

$40,211

Over $110,000

$27,435

As shown in the table lower the family income higher is the amount of aid one can expect to receive. For those students who have a family income under $30,000 can expect to receive an aid amount of $42,951 while those with family income over $110,000 can expect to receive an aid amount of $27,435. This helps students who are coming from low income homes to pay for their degree.

Student Loans for Southern Methodist University (SMU)

Average Loan Amount Average Loan Amount received per year.

$9,927/Year

Students Taking Out Loans

25%

Loan Default Rate

2.7%

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