$4,666

Avg. Federal Grant

$5,175

Avg. Federal Loan

$17,817,021

Total Aid Awarded

University of Mary Washington (UMW) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

66%

Total Aid Amount Average Total Aid Awarded per year.

$17.817M

Financial Aid Official Website

www.umw.edu/financialaid/

Among them are scholarship programs such as Alfred Levitt Memorial Scholarship in Art, Anne Merritt Miner '55 Scholarship, Barbara Diane Hall Scholarship, and Belulah M. Hartmann Scholarship Fund. Notably, 92% of the students at University of Mary Washington get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $11,860,075. More information regarding the financial assistance schemes can be accessed on UMW’s official financial aid page at http://www.umw.edu/financialaid/. At UMW, the total percentage of applicants who receive the Federal Grant stands at 22%. On the other hand, 89% of the candidates get the Student Grant, 88% receive the Institution Grant, and 22% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,456, and the same stands at $5,186 for State Grant awardees and $4,277 for Institution Grant recipients. And, for the Pell Grant awardees, the average aid amount is $4,441. 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. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At University of Mary Washington, the percentage of candidates who opt to avail of student loans is around 49%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

20%

State Grant Aid

24%

Institution Grant Aid

86%

Pell Grant

20%

Average Aid Awarded

Federal Grant Aid

$4,666

State Grant Aid

$4,721

Institution Grant Aid

$4,138

Pell Grant

$4,475

How much student loan debt you accumulate can affect your financial life long after college ends. Ideally, your total student loan debt should fall below your anticipated starting salary once you graduate.

At University of Mary Washington (UMW), the median federal loan debt among borrowers who completed their undergraduate degree is $20,500. The median monthly federal loan payment (if it were repaid over 10 years at 5.05% interest) for student federal loan borrowers who graduated is $218.

Typical total debt after graduation is $20,500.

Typical total debt among those who did not graduate is $6,500.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$13,803

$30,001 - $48,000

$12,118

$48,001 - $75,000

$5,547

$75,001 - $110,000

$787

Over $110,000

N/A

Typical total debt by family income

Family Income

 

Total Debt

     
$0-$30,000   $17,500
$30,001-$75,000   $15,000
$75,001+   $14,924

Student Loans for University of Mary Washington (UMW)

Average Loan Amount Average Loan Amount received per year.

$7,183/Year

Students Taking Out Loans

50%

Loan Default Rate

3.7%

Other Colleges In Virginia

George Mason University
George Mason University

Fairfax, Virginia

Strayer University
Strayer University

Arlington, Virginia

Other Colleges In Fredericksburg

Virginia Baptist College
Virginia Baptist College

Fredericksburg, Virginia

Eastern Virginia Career College
Eastern Virginia Career College

Fredericksburg, Virginia

Other Public Colleges