$4,692

Avg. Federal Grant

$5,086

Avg. Federal Loan

$20,133,737

Total Aid Awarded

University of Mount Olive Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

77%

Total Aid Amount Average Total Aid Awarded per year.

$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.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

52%

State Grant Aid

58%

Institution Grant Aid

97%

Pell Grant

52%

Average Aid Awarded

Federal Grant Aid

$4,692

State Grant Aid

$4,617

Institution Grant Aid

$8,553

Pell Grant

$4,248

When funding for higher education becomes more expensive, financial aid services become much more critically important as students and families must decide where to study and what program to choose that best fits their needs as well as their budget. With the data we’ve gathered on University of Mount Olive, most of the queries regarding aid reception is answered:

  • Around 52% of the students receive Federal Grant Aid, which amounts to an average of $4,692.

  • 52% of the students receive Pell Grants, which amount to an average of around $4,248.

  • Approximately 58% of the students receive state grants at an average of around $4,617.

  • 97% of the students receive the institutional grant at an average of around $8,553.

  • 77% of the students receive grants, which amount to an average of around $20,133,737.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$14,515

$30,001 - $48,000

$15,002

$48,001 - $75,000

$14,775

$75,001 - $110,000

$10,085

Over $110,000

$11,831

For a student who has a family income ranging from $0 to $30,000, the average federal aid provided is $14,515, whereas a student having a family income ranging from $30,001 to $48,000 the average federal aid is $15,002. The student who has a family income ranging from $48,001 to $75,000, the average federal aid provided is $14,775, whereas the student having an annual income ranging from $75,001 to $110,000 the average federal provided is around $10,085. And the student has a yearly income range greater than $110,000; the average federal aid provided is $11,831.

Student Loans for University of Mount Olive

Average Loan Amount Average Loan Amount received per year.

$5,716/Year

Students Taking Out Loans

72%

Loan Default Rate

10.9%

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