by our College Data Analytics TeamThe majority of students will never be charged the full sticker price of a school. Rather, they are offered a financial aid plan that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The total cost of going to George Mason University can seem overpowering, but remember that the majority of students are given some form of financial assistance.
Just what financial assistance solutions will GMU deliver, and just what are you going to be eligible for? Read on for answers. Scroll down to learn just how much financial aid will be open to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Use the information below to understand how much financial assistance you may get from George Mason University.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
Among first-time, full-time freshmen at George Mason University, 79% of first-time, full-time freshmen received some form of financial aid around 3396 students).Type of Aid % of Freshmen Receiving Average Amount Grant or scholarship aid (all sources) 71% $12,852 Institutional grants & scholarships 45% $9,417 Federal Pell grants 29% $6,083 State/local grants 40% $7,632 Federal student loans 36% $5,070
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. Across the undergraduate body at GMU, some 60% of undergraduates were awarded grant or scholarship aid averaging $11,628 (among about 16706 recipients).Award % of Undergrads Receiving Average Amount Grant or scholarship aid (all sources) 60% $11,628 Federal Pell grants 30% $5,592 Federal student loans 31% $6,502
Title-IV recipients living on campus saw average grant aid of $10,689.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.Family Income Average Net Price $0 – $48,000 $12,650 $30,001 – $75,000 $14,909 Over $75,000 $23,654
Remember these are net prices — what families pay after gift aid, not before.
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 $17,915 Off-campus title-IV students $18,287
For a customized cost estimate, visit GMU’s online cost calculator: gmu.studentaidcalculator.com/survey.aspx.
Graduating students at GMU carry a median federal student debt of $15,750 in federal student debt.Metric Amount Median federal debt (all student-aid borrowers) $15,750 Median federal debt (graduates only) $19,500 Typical 10-year monthly payment (graduates) $206.73/mo
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
Looking only at the median can be misleading because it hides the spread. The four reference points below map the debt distribution at GMU.Percentile Cumulative Federal Debt 10th percentile (lowest-debt students) $4,500 25th percentile $7,500 75th percentile $25,750 90th percentile (highest-debt students) $31,520
How much a student borrows depends heavily on family income, first-gen status, and dependency.
Debt by Income TierIncome tier Median federal debt Low income $16,000 Middle income $16,000 High income $15,125
First-Gen vs Continuing-Gen Median DebtCohort Median federal debt First-generation students $15,751 Continuing-generation students $15,500
Dependency-Status ComparisonCohort Median federal debt Dependent students $15,000 Independent students $18,387
The figure below distills the debt data into a single burden category for GMU.
The Stafford program is the federal direct-loan vehicle most undergraduates use. The totals below capture Stafford lending at GMU:Metric Value Stafford loan recipients 70596 Total Stafford loan amount $1,583,193,507
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
Post-9/11 GI Bill activityMetric Value GI Bill recipients 1430 Total GI Bill amount $16,666,973 Average GI Bill amount per recipient $11,655
DoD program volumeMetric Value DoD Tuition Assistance recipients 78 Total DoD amount $184,166 Average DoD amount per recipient $2,361
References
More about our data sources and methodologies.