by our College Data Analytics TeamA large number of 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 total price of attendance at University of Mount Olive can feel tremendous, but do not forget that almost all students receive some sort of financial help.
What financial assistance options will UMO offer you, and what will you qualify for? Read on for more information. Keep going to learn what amount of financial assistance will be accessible to you.
Your financial aid package, which may contain grants and scholarships, will be determined on your financial need. Continue reading to find information to help you understand just how much assistance you can expect to receive from University of Mount Olive.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
At University of Mount Olive, 100% of entering full-time freshmen got some type of financial assistance roughly 269 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $19,716 |
| Institutional grants & scholarships | 97% | $14,404 |
| Federal Pell grants | 48% | $5,700 |
| State/local grants | 45% | $6,401 |
| Federal student loans | 57% | $5,309 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. Across the undergraduate body at UMO, roughly 81% of undergraduate students received gift aid averaging $13,587 (among about 1565 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 81% | $13,587 |
| Federal Pell grants | 45% | $5,462 |
| Federal student loans | 69% | $6,536 |
For students living on campus and receiving title-IV aid, grants averaged $19,716.
The figures below show the average net price — cost after all grant and scholarship aid — broken out by family income.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $13,786 |
| $30,001 – $75,000 | $15,367 |
| Over $75,000 | $20,123 |
Each figure is the net price after grants and scholarships, not the published sticker price.
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 | $18,853 |
| Off-campus title-IV students | $17,893 |
To project your own net price, use UMO’s NPC: umo.edu/cost-calculator/.
The median federal debt load at UMO comes to $20,811 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $20,811 |
| Median federal debt (graduates only) | $27,209 |
| Typical 10-year monthly payment (graduates) | $288.46/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. The four reference points below map the debt distribution at UMO.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,713 |
| 25th percentile | $8,302 |
| 75th percentile | $32,298 |
| 90th percentile (highest-debt students) | $44,069 |
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 | $22,000 |
| Middle income | $19,687 |
| High income | $19,250 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $21,021 |
| Continuing-generation students | $19,418 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $15,250 |
| Independent students | $25,000 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. UMO.
The Stafford program is the federal direct-loan vehicle most undergraduates use. The annual Stafford volume below reflects program activity at UMO:
| Metric | Value |
|---|---|
| Stafford loan recipients | 14761 |
| Total Stafford loan amount | $336,147,935 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 91 |
| Total GI Bill amount | $1,185,993 |
| Average GI Bill amount per recipient | $13,033 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 75 |
| Total DoD amount | $147,687 |
| Average DoD amount per recipient | $1,969 |
References
More about our data sources and methodologies.