In case the students at University of Mount Olive face any financial issues concerning the fees and cost of living, and find the same to be high, they can seek help from the financial aid department of the varsity. It focuses on settling the issues that students face, and candidates can be assisted with scholarships, grants, and student loans. The average financial aid at University of Mount Olive is around $9,514 and the federal grant is $4,900. The students at the university are provided with state aid and institutional aid. The state aid stands at $4,502, while the institutional aid is $9,514. The total need-based scholarships/grants offered at UMO based on students' financial needs add up to $15,739,616 per year. Meanwhile, the total non-need-based scholarships/grants in a year come to around $2,314,051.