$4,659

Avg. Federal Grant

$5,505

Avg. Federal Loan

$74,915,693

Total Aid Awarded

The University of Akron Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

63%

Total Aid Amount Average Total Aid Awarded per year.

$74.916M

Financial Aid Official Website

www.uakron.edu/finaid/

Students can avail of scholarships provided by the university, such as Akron Advantage Blue Award, Akron Advantage Gold Award, Don and Lisa Drumm Scholarship, and Dr. Allen Smith Memorial Scholarship, if they find educational expenses to be on the higher side. As many as 96% of the students at UAMC get some sort of financial aid, and the total amount of assistance/loans provided is more than $45,684,996 in a year. The total percentage of candidates applying to University of Akron Main Campus who receive the Federal Grant is 40%. On the other hand, 90% of the candidates get the Student Grant, 76% receive the Institution Grant, and 40% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,807, while the same comes to $1,620 for State Grant receivers and $5,348 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,718. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At University of Akron Main Campus, the percentage of candidates who opt to avail of student loans is around 61%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

43%

State Grant Aid

33%

Institution Grant Aid

68%

Pell Grant

43%

Average Aid Awarded

Federal Grant Aid

$4,659

State Grant Aid

$1,526

Institution Grant Aid

$6,280

Pell Grant

$4,471

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$8,683

$30,001 - $48,000

$8,135

$48,001 - $75,000

$4,937

$75,001 - $110,000

$3,943

Over $110,000

$3,713

Student Loans for The University of Akron

Average Loan Amount Average Loan Amount received per year.

$6,822/Year

Students Taking Out Loans

65%

Loan Default Rate

10.1%