$4,934

Avg. Federal Grant

$5,824

Avg. Federal Loan

$15,746,063

Total Aid Awarded

University of Mobile (UM) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

89%

Total Aid Amount Average Total Aid Awarded per year.

$15.746M

Financial Aid Official Website

https://umobile.edu/financial-aid/

It is interesting to note that, every year, around 96% of students at UM receive some kind of financial aid, while the total amount of assistance/loans provided is $7,844,696. One can visit UM's financial aid page at https://umobile.edu/financial-aid/ for more information. At UM, the total percentage of applicants who receive the Federal Grant stands at 44%. Meanwhile, 96% of the applicants receive the Student Grant and 93% are awarded the Institution Grant, while 44% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,993, and the same stands at $1,034 for State Grant awardees and $12,319 for Institution Grant recipients. And, for the Pell Grant awardees, the average aid amount is $4,515. 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. Students whose family income per annum is less than $30,000 will receive a federal aid of $21,598 on average in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $20,077, while those falling in the $48,001-$75,000 income category get $15,870 a year. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $11,990. And, for those with a family income of more than $110,000, the amount stands at $10,520. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At University of Mobile, the percentage of candidates who opt to avail of student loans is around 66%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

47%

State Grant Aid

59%

Institution Grant Aid

95%

Pell Grant

47%

Average Aid Awarded

Federal Grant Aid

$4,934

State Grant Aid

$863

Institution Grant Aid

$13,454

Pell Grant

$4,753

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$23,389

$30,001 - $48,000

$21,447

$48,001 - $75,000

$20,333

$75,001 - $110,000

$18,607

Over $110,000

$16,145

Student Loans for University of Mobile (UM)

Average Loan Amount Average Loan Amount received per year.

$6,771/Year

Students Taking Out Loans

60%

Loan Default Rate

9.6%