by our College Data Analytics TeamRather than paying the full sticker price for a college education, most students receive a financial aid package that eases the burden with scholarships, grants, loans, and work-study options, while the amount and type of aid may vary among students.
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 University of Akron Main Campus.
University of Akron Main Campus average financial aid offer for freshmen students is $6,907.00. Approximately 95% of incoming freshmen obtain financial assistance, with the majority being offered as loans.
Financial aid helps reduce the cost, or the full retail price of the college. However, be aware that the only true college discount is scholarships & grants.
We feel that loan debt ought to be regarded as a consequence instead of true financial aid. Learn more on student loan debt at University of Akron Main Campus.
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 next numbers refer to grants and scholarships mainly supplied by the college itself.
78% of new students (2089 total) were offered scholarships at University of Akron Main Campus, averaging $5,269.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 35% of freshmen (946 total) received a federal grant, for about $4,854.00 a person.
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 | 16.45% | $10,184.00 |
| Income 30k-48k | 9.10% | $9,094.00 |
| Income 48k-75k | 9.40% | $5,744.00 |
| Income 75k-110k | 10.23% | $3,826.00 |
| Income 110k + | 10.12% | $3,762.00 |
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.
2377 University of Akron Main Campus undergrads obtain grant aid (this is about 95% of the entire undergraduate student population). The average amount these students receive is $6,907.00.
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.