by our College Data Analytics TeamMost students will not be asked to pay the full, advertised sticker price of a school. Instead, they will be given a financial aid offer that will include a combination of scholarships, grants, loans, and work-study. The sum total of attendance at Florida Memorial University can sound tremendous, but do not forget that almost all students get some type of financial help.
Just what financial assistance solutions will Florida Memorial University provide, and just what are you going to be eligible for? Read on for answers. Keep going to see how much school funding could be available to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Read on to get a sense of the financial assistance available at Florida Memorial University.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. However, some types of aid are more desirable than others, and some students will receive more than others.
For freshmen starting at Florida Memorial University, 99% of first-year full-time students received aid of some kind some 426 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 98% | $14,130 |
| Institutional grants & scholarships | 24% | $5,793 |
| Federal Pell grants | 87% | $6,517 |
| State/local grants | 93% | $7,006 |
| Federal student loans | 80% | $6,173 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. Here, roughly 85% of undergraduates were awarded grant or scholarship aid averaging $13,476 (covering around 1108 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 85% | $13,476 |
| Federal Pell grants | 69% | $6,515 |
| Federal student loans | 66% | $7,016 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $12,571.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $18,010 |
| $30,001 – $75,000 | $18,847 |
| Over $75,000 | $25,417 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
The net price represents the average annual cost a title-IV-receiving student pays after grant aid is subtracted from the full cost of attendance.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $23,238 |
| Off-campus title-IV students | $18,749 |
To project your own net price, use Florida Memorial University’s net price calculator: www.fmuniv.edu/admissions/financial-aid/tuition-and-fees/.
The middle student in the debt distribution at Florida Memorial University owes $16,475 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $16,475 |
| Median federal debt (graduates only) | $30,063 |
| Typical 10-year monthly payment (graduates) | $318.72/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
Looking only at the median can be misleading because it hides the spread. The four reference points below map the debt distribution at Florida Memorial University.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,750 |
| 25th percentile | $6,625 |
| 75th percentile | $37,424 |
| 90th percentile (highest-debt students) | $50,500 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $18,500 |
| Middle income | $12,625 |
| High income | $17,250 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $16,700 |
| Continuing-generation students | $13,500 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $16,000 |
| Independent students | $20,000 |
A handful of calculated indicators summarize the debt outlook at Florida Memorial University.
The Stafford program is the federal direct-loan vehicle most undergraduates use. These figures summarize annual Stafford program activity at Florida Memorial University:
| Metric | Value |
|---|---|
| Stafford loan recipients | 12993 |
| Total Stafford loan amount | $349,184,624 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 42 |
| Total GI Bill amount | $221,592 |
| Average GI Bill amount per recipient | $5,276 |
References
More about our data sources and methodologies.