$5,562

Avg. Federal Grant

$4,947

Avg. Federal Loan

$71,723,014

Total Aid Awarded

University of Massachusetts-Boston Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

64%

Total Aid Amount Average Total Aid Awarded per year.

$71.723M

Financial Aid Official Website

www.umb.edu/admissions/financial_aid_scholarships

Among them are scholarship programs such as Alumni Association Scholarship Award, Annual Fund Scholarship, Bank of America Scholarship Fund, and Charles Hoff Leadership Scholars Program. As many as 86% of the students at UMB get some sort of financial aid, and the total amount of assistance/loans provided is more than $43,652,266 in a year. One can visit UMB's financial aid page at http://www.umb.edu/admissions/financial_aid_scholarships for more information. At UMB, the total percentage of applicants who receive the Federal Grant stands at 47%. Meanwhile, 78% of the applicants receive the Student Grant and 75% are awarded the Institution Grant, while 47% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,954, and the same stands at $1,986 for State Grant awardees and $7,463 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,580. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At UMB, an estimated number of 59% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

49%

State Grant Aid

50%

Institution Grant Aid

74%

Pell Grant

49%

Average Aid Awarded

Federal Grant Aid

$5,562

State Grant Aid

$2,164

Institution Grant Aid

$6,430

Pell Grant

$4,964

As shown in the table the breakdown includes Federal Grants, Pell Grants, state grants and institutional grants, with federal grants having the percentage contribution of 49% with an average aid amount being $5562.

Pell grants have a percentage of 49% with an average aid amount of $4964  than the State grant aid average of $2164.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$13,333

$30,001 - $48,000

$12,439

$48,001 - $75,000

$8,911

$75,001 - $110,000

$5,354

Over $110,000

$3,230

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 $13333 while those with family income over $110,000 can expect to receive an aid amount of $3230. This helps students who are coming from low-income homes to pay for their degrees.

Student Loans for University of Massachusetts-Boston

Average Loan Amount Average Loan Amount received per year.

$5,819/Year

Students Taking Out Loans

52%

Loan Default Rate

5.8%

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