$4,797

Avg. Federal Grant

$6,548

Avg. Federal Loan

$10,225,016

Total Aid Awarded

Western New Mexico University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

63%

Total Aid Amount Average Total Aid Awarded per year.

$10.225M

Financial Aid Official Website

www.wnmu.edu/financialAid/

Among them are scholarship programs such as Western Undergraduate Exchange. It is interesting to note that, every year, around 95% of students at WNMU receive some kind of financial aid, while the total amount of assistance/loans provided is $6,531,230. One can visit WNMU's financial aid page at http://www.wnmu.edu/financialAid/ for more information. At WNMU, the total percentage of applicants who receive the Federal Grant stands at 64%. In comparison, 93% of the students are awarded the Student Grant, 52% get the Institution Grant, and 64% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,959, the State Grant receivers and Institution Grant beneficiaries get $2,274 and $9,310, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,539. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. However, student loans attract a certain rate of interest at which the funds are borrowed. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At Western New Mexico University, the percentage of candidates who opt to avail of student loans is around 54%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

66%

State Grant Aid

64%

Institution Grant Aid

49%

Pell Grant

66%

Average Aid Awarded

Federal Grant Aid

$4,797

State Grant Aid

$1,687

Institution Grant Aid

$6,994

Pell Grant

$4,642

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,276

$30,001 - $48,000

$5,450

$48,001 - $75,000

N/A

$75,001 - $110,000

N/A

Over $110,000

N/A

Student Loans for Western New Mexico University

Average Loan Amount Average Loan Amount received per year.

$6,552/Year

Students Taking Out Loans

51%

Loan Default Rate

17.8%

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