University of Mount Olive Financial Aid and Scholarships
Students Receiving Aid
77%
Total Aid Amount
$20.134M
Financial Aid Official Website
https://www.umo.edu/admissions/financial-aid
Such schemes include Honors Scholarship, Leaders Scholarship, North Carolina Student Incentive Grant, and Triangle Scholarship Program. It is interesting to note that, every year, around 99% of students at UMO receive some kind of financial aid, while the total amount of assistance/loans provided is $15,242,377. Notably, a total of 53% of the applicants to University of Mount Olive receive the Federal Grant every year. Meanwhile, 98% of the applicants receive the Student Grant and 92% are awarded the Institution Grant, while 53% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,900, while the same comes to $4,502 for State Grant receivers and $9,514 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,064. 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. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Candidates are also required to repay these loans within a given period. At UMO, an estimated number of 62% of the applicants choose to go for student loans.
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