University of Massachusetts-Boston Financial Aid and Scholarships
Students Receiving Aid
64%
Total Aid Amount
$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.
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