by our College Data Analytics TeamMost students won’t pay the advertised price of a school. Instead, they will be provided with a financial aid plan that includes a mix of scholarships, grants, loans, and work-study. But some kinds of aid are more desirable than others, and some students will get more than others.
However, some types of financial aid are definitely more desireable than others, and some students will receive more aid than others.Find out more by scrolling down the page.
Boston University average financial aid offer for freshmen students is $45,724.00. Approximately 53% of incoming freshmen obtain financial assistance, with the majority being offered as grants and scholarships.
A financial aid package includes loans, grants, and scholarships. However, student loans have to be paid back, so they aren’t a true discount.
Student debt should be thought of as an “outcome” rather than “aid”. Read more about student loan debt at Boston University.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The following numbers apply to scholarships and grants largely offered by the school itself.
47% of new students (1488 total) were offered scholarships at Boston University, averaging $43,326.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 17% of freshmen (536 total) obtained a federal grant, for about $7,249.00 a piece.
The table following demonstrates grant and scholarship distributions by income level for freshmen getting any sort of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 7.64% | $61,929.00 |
| Income 30k-48k | 5.10% | $63,129.00 |
| Income 48k-75k | 5.89% | $56,453.00 |
| Income 75k-110k | 5.32% | $44,986.00 |
| Income 110k + | 12.23% | $24,786.00 |
The table above shows undergrads who are getting Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
53% of the 3156 undergraduates at Boston University receive some sort of grant aid. This is a total of about 1503 students getting an average of $45,724.00 per person.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.