by our College Data Analytics TeamThe majority of college students don’t pay the full price for their education, as financial aid packages, including scholarships, grants, loans, and work-study opportunities, help to offset the costs.
The amount of financial assistance and scholarships or grants you can get varies based on your circumstances. Keep reading to learn more to help you to know just how much aid and scholarships to expect from UMO.
University of Mount Olive average financial aid offer for freshmen students is $17,250.00. Approximately 99% of incoming freshmen obtain financial assistance, with the majority being offered as grants and scholarships.
Loans are included in the umbrella of ‘financial aid’, even so, the only true discount from the cost of college is a grant or scholarship that you don’t have to pay back.
Student debt really should be considered to be an added expense and not as “aid” or a “discount”. Find more about student loan debt at University of Mount Olive.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The following numbers apply to scholarships and grants largely offered by the school itself.
95% of incoming freshmen (274 total) were given scholarships at University of Mount Olive, averaging $10,644.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 88% of freshman students (253 total) obtained federal grant aid, averaging $4,624.00 a piece.
The table shows scholarship and grant allocations by income for first-year students receiving any type of federal Title IV assistance, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 28.47% | $17,595.00 |
| Income 30k-48k | 14.24% | $18,685.00 |
| Income 48k-75k | 17.01% | $15,373.00 |
| Income 75k-110k | 8.33% | $14,598.00 |
| Income 110k + | 11.11% | $11,709.00 |
The table above displays students who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Get more info on Title IV here.
Of the 288 undergraduate students at University of Mount Olive around 99% (286 total) receive some form of grant aid. The typical amount awarded was $17,250.00.
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.