by our College Data Analytics TeamThe total cost of attendance at McMurry University can seem overwhelming, but remember that the majority of students receive some sort of financial assistance. This could be in the form of scholarships, grants, work-study, or loans.
Interested in understanding the financial aid resources available at McMurray University and your eligibility? Find the answers you seek below.
McMurry University average financial aid offer for freshmen students is $20,760.00. 99% of first-year students are awarded financial aid, primarily comprising grants and scholarships.
Loans are a part of financial aid plans, but the only true college discount is a scholarship or grant that you don’t have to repay.
Concerned about the loans that may be included in your financial aid package? See the average amount of debt per student at McMurry University.
Financial awards given by a college or university to its students, known as institutional scholarships and grants, help to offset the cost of tuition and other education-related expenses. These awards fall into two categories: merit-based and need-based, and they do not need to be paid back. Merit-based institutional scholarships are granted to students who have shown outstanding academic accomplishments, special talents, or abilities in a particular field. Factors such as high school performance, standardized test results, or involvement in extracurricular activities often contribute to these scholarship decisions. Conversely, need-based institutional grants cater to students who demonstrate financial need. The awarded amount is typically based on the student’s family’s financial standing and is intended to cover the difference between the cost of attendance and the family’s ability to contribute. Colleges and universities might use data from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms to determine a student’s eligibility for need-based grants. Institutional scholarships and grants are a vital source of financial support for students, as they can significantly reduce the cost of attending college and help make higher education more accessible.
The following numbers apply to scholarships and grants largely offered by the school itself.
98% of new students (249 total) were given scholarships at McMurry University, averaging $15,366.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 79% of first-year students (201 total) got federal grant aid, averaging $4,710.00 per person.
Amount of Financial Assistance Per Income Level
The following table displays scholarship and grant allocations by family income for freshman students receiving any kind of federal Title IV assistance, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 34.51% | $23,929.00 |
| Income 30k-48k | 15.29% | $22,687.00 |
| Income 48k-75k | 12.16% | $18,883.00 |
| Income 75k-110k | 13.33% | $17,382.00 |
| Income 110k + | 18.43% | $14,505.00 |
The table above displays undergrads who are obtaining Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
253 McMurray University undergrads obtain grant aid (this is about 99% of the entire undergraduate student population). The average amount these students receive is $20,760.00.
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.