$5,740

Avg. Federal Grant

$5,113

Avg. Federal Loan

$96,593,765

Total Aid Awarded

Wayne State University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

73%

Total Aid Amount Average Total Aid Awarded per year.

$96.594M

Financial Aid Official Website

finaid.wayne.edu/

Such schemes include Anthony Wayne Out-of-State Freshman Scholarship, Art and Helen Nickless Scholarship, Auburn Jaycees Education Scholarship, and Bay City Civitan/Marcella Barber Scholarship. As many as 98% of the students at WSU get some sort of financial aid, and the total amount of assistance/loans provided is more than $59,681,269 in a year. Notably, a total of 48% of the applicants to Wayne State University receive the Federal Grant every year. In comparison, 97% of the students are awarded the Student Grant, 94% get the Institution Grant, and 48% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,844, and the same stands at $1,033 for State Grant awardees and $6,426 for Institution Grant recipients. And, for the Pell Grant awardees, the average aid amount is $4,893. 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. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 49% of the applicants to Wayne State University opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

49%

State Grant Aid

8%

Institution Grant Aid

85%

Pell Grant

49%

Average Aid Awarded

Federal Grant Aid

$5,740

State Grant Aid

$1,034

Institution Grant Aid

$6,562

Pell Grant

$5,141

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$12,241

$30,001 - $48,000

$11,852

$48,001 - $75,000

$10,416

$75,001 - $110,000

$5,090

Over $110,000

$3,937

Student Loans for Wayne State University

Average Loan Amount Average Loan Amount received per year.

$5,857/Year

Students Taking Out Loans

49%

Loan Default Rate

7.2%

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