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.
Interested in understanding the financial aid resources available at Furman and your eligibility? Find the answers you seek below.
Furman University average financial aid offer for freshmen students is $29,447.00. 94% of first-year students are awarded financial aid, primarily comprising grants and scholarships.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
A loan is not a legitimate college discount, but rather an outcome to consider. See how much student loan debt from Furman University you may end up taking on.
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 next numbers refer to grants and scholarships mainly supplied by the college itself.
91% of new students (589 total) were offered scholarships at Furman University, averaging $27,380.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 43% of freshmen (277 total) received a federal grant, for about $1,991.00 a person.
The next table displays grant and scholarship distributions by family income for freshman students getting any kind of federally-funded Title IV aid, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 2.93% | $46,099.00 |
| Income 30k-48k | 2.78% | $45,379.00 |
| Income 48k-75k | 5.40% | $45,223.00 |
| Income 75k-110k | 4.78% | $37,037.00 |
| Income 110k + | 14.66% | $26,104.00 |
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.
602 Furman undergrads obtain grant aid (this is about 94% of the entire undergraduate student population). The average amount these students receive is $29,447.00.
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.