$4,677

Avg. Federal Grant

$3,322

Avg. Federal Loan

$17,324,119

Total Aid Awarded

Virginia Military Institute (VMI) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

71%

Total Aid Amount Average Total Aid Awarded per year.

$17.324M

Financial Aid Official Website

www.vmi.edu/about/offices-a-z/financial-aid/

Among them are scholarship programs such as Virginia Military Survivors and Dependents Education Program. Notably, 92% of the students at Virginia Military Institute get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $6,811,349. One can visit VMI's financial aid page at http://www.vmi.edu/about/offices-a-z/financial-aid/ for more information. Notably, a total of 15% of the applicants to Virginia Military Institute receive the Federal Grant every year. In comparison, 68% of the students are awarded the Student Grant, 68% get the Institution Grant, and 15% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,062, and the same stands at $7,558 for State Grant awardees and $13,729 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,590. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. 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. At Virginia Military Institute, the percentage of candidates who opt to avail of student loans is around 78%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

18%

State Grant Aid

19%

Institution Grant Aid

66%

Pell Grant

18%

Average Aid Awarded

Federal Grant Aid

$4,677

State Grant Aid

$6,386

Institution Grant Aid

$14,669

Pell Grant

$4,439

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$19,584

$30,001 - $48,000

$24,243

$48,001 - $75,000

$21,211

$75,001 - $110,000

$13,843

Over $110,000

$5,156

Student Loans for Virginia Military Institute (VMI)

Average Loan Amount Average Loan Amount received per year.

$6,127/Year

Students Taking Out Loans

84%

Loan Default Rate

2.1%