$4,713

Avg. Federal Grant

$9,032

Avg. Federal Loan

$7,403,619

Total Aid Awarded

Southern Virginia University (SVU) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

99%

Total Aid Amount Average Total Aid Awarded per year.

$7.404M

Financial Aid Official Website

svu.edu/admissions/tuition-and-payments/

It is interesting to note that almost every student at SVU receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $5,046,431. More information regarding the financial assistance schemes can be accessed on SVU’s official financial aid page at http://svu.edu/admissions/tuition-and-payments/. Notably, a total of 41% of the applicants to Southern Virginia University receive the Federal Grant every year. In comparison, 99% of the students are awarded the Student Grant, 98% get the Institution Grant, and 41% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,787, and the same stands at $3,042 for State Grant awardees and $5,018 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,922. 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. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $9,454 per year. The average aid amount stands at $10,474 for an annual family income between $30,001 and $48,000. This amount comes to $8,134 for those who fall under the $48,001-$75,000 family income bracket. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $6,136. And, for those with a family income of more than $110,000, the amount stands at $3,784. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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. At SVU, an estimated number of 62% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

42%

State Grant Aid

10%

Institution Grant Aid

97%

Pell Grant

42%

Average Aid Awarded

Federal Grant Aid

$4,713

State Grant Aid

$3,135

Institution Grant Aid

$4,563

Pell Grant

$4,614

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$11,345

$30,001 - $48,000

$10,712

$48,001 - $75,000

$10,683

$75,001 - $110,000

$7,301

Over $110,000

$4,567

Student Loans for Southern Virginia University (SVU)

Average Loan Amount Average Loan Amount received per year.

$9,533/Year

Students Taking Out Loans

61%

Loan Default Rate

7.9%

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