University of Mary Financial Aid and Scholarships
Students Receiving Aid
83%
Total Aid Amount
$17.913M
Financial Aid Official Website
https://www.umary.edu/finances/
Students can avail of scholarships provided by the university, such as Emerging Leader's Academy Scholarship, North Dakota Scholars Scholarship, Pacesetter Grant, and Sister Thomas Welder Leadership Scholarship, if they find educational expenses to be on the higher side. It is interesting to note that, every year, around 98% of students at UM receive some kind of financial aid, while the total amount of assistance/loans provided is $10,236,619. For additional information about financial assistance schemes, one can head over to UM’s financial aid page at https://www.umary.edu/finances/. Notably, a total of 24% of the applicants to University of Mary receive the Federal Grant every year. On the other hand, 98% of the candidates get the Student Grant, 97% receive the Institution Grant, and 24% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,148, while the same comes to $2,243 for State Grant receivers and $9,303 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,356. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Students whose family income per annum is less than $30,000 will receive a federal aid of $14,063 on average in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $12,310, while those falling in the $48,001-$75,000 income category get $11,553 a year. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $9,758. And, for those with a family income of more than $110,000, the amount stands at $8,127. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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 University of Mary, the percentage of candidates who opt to avail of student loans is around 67%.
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