$5,104

Avg. Federal Grant

$5,693

Avg. Federal Loan

$20,337,009

Total Aid Awarded

University of Montevallo (UM) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

82%

Total Aid Amount Average Total Aid Awarded per year.

$20.337M

Financial Aid Official Website

https://www.montevallo.edu/admissions-aid/

As many as 95% of the students at UM get some sort of financial aid, and the total amount of assistance/loans provided is more than $8,681,396 in a year. For additional information about financial assistance schemes, one can head over to UM’s financial aid page at https://www.montevallo.edu/admissions-aid/. The total percentage of candidates applying to University of Montevallo who receive the Federal Grant is 40%. Meanwhile, 90% of the applicants receive the Student Grant and 83% are awarded the Institution Grant, while 40% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,082, the State Grant receivers and Institution Grant beneficiaries get $1,200 and $10,059, respectively. And, for the Pell Grant awardees, the average aid amount is $4,927. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 53% of the applicants to University of Montevallo opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

40%

State Grant Aid

1%

Institution Grant Aid

86%

Pell Grant

40%

Average Aid Awarded

Federal Grant Aid

$5,104

State Grant Aid

$1,200

Institution Grant Aid

$10,295

Pell Grant

$4,904

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$10,506

$30,001 - $48,000

$9,568

$48,001 - $75,000

$6,772

$75,001 - $110,000

$5,217

Over $110,000

$4,238

Student Loans for University of Montevallo (UM)

Average Loan Amount Average Loan Amount received per year.

$6,317/Year

Students Taking Out Loans

58%

Loan Default Rate

7.3%