by our College Data Analytics TeamFinancial aid in the form of loans, grants, work-study, and scholarships is one way colleges reduce the cost of attendance so most students can actually afford to attend.
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.
Mount Mary University average financial aid offer for freshmen students is $23,326.00. About 100% of first year students receive financial aid, most of which is in the form of 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 Mount Mary 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 numbers below apply to scholarships and grants primarily provided by Mount Mary University.
99% of incoming freshmen (124 total) were awarded scholarships at Mount Mary University, averaging $16,597.00 a piece. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 98% of first-year students (123 total) got a federal grant, for about $4,784.00 per person.
The next table shows grant and scholarship distributions by income for first-year students getting any form of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 36.80% | $24,867.00 |
| Income 30k-48k | 24.00% | $25,480.00 |
| Income 48k-75k | 16.80% | $23,117.00 |
| Income 75k-110k | 7.20% | $16,490.00 |
| Income 110k + | 7.20% | $16,014.00 |
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.
100% of the 125 undergraduates at Mount Mary University receive some sort of grant aid. This is a total of about 124 students getting an average of $23,326.00 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.