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.
Uncover the various financial aid options provided by UofL and determine which ones you may be eligible for by continuing your exploration.
University of Louisville average financial aid offer for freshmen students is $10,503.00. About 98% of first year students receive financial aid, most of which is in the form of 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.
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 Louisville.
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 numbers below apply to scholarships and grants primarily provided by University of Louisville.
77% of incoming freshmen (1956 total) were awarded scholarships at University of Louisville, averaging $9,085.00 a piece. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 44% of first-year students (1116 total) got a federal grant, for about $4,889.00 per person.
The following table shows scholarship and grant allocations by income for first-year students receiving any form of federal Title IV assistance, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 14.65% | $14,816.00 |
| Income 30k-48k | 8.82% | $14,522.00 |
| Income 48k-75k | 8.50% | $10,867.00 |
| Income 75k-110k | 6.42% | $8,125.00 |
| Income 110k + | 9.25% | $6,243.00 |
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.
2432 UofL undergrads obtain grant aid (this is about 98% of the entire undergraduate student population). The average amount these students receive is $10,503.00.
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.