by our College Data Analytics TeamFinancial aid in the form of loans, grants, work-study, and scholarships is one way colleges reduce the cost of attendance so most students can actually afford to attend.
What financial aid options does UAM offer, and what will you qualify for? Keep scrolling for answers.
University of Arkansas at Monticello average financial aid offer for freshmen students is $6,778.00. A significant 98% of freshmen benefit from financial aid, with the main type being grants and scholarships.
Financial aid contains loans, grants, and scholarships. But college loans need to be repaid, thus they are not a real college discount.
A student loan isn’t a genuine college price reduction, but rather an additional cost consideration. Discover how much student loan debt from University of Arkansas at Monticello you could end up dealing with.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
35% of first-year students (160 total) were offered scholarships at University of Arkansas at Monticello, averaging $4,304.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 96% of first-year students (433 total) got a federal grant, for about $4,622.00 per person.
The next table displays grant and scholarship distributions by family income for freshman students getting any kind of federally-funded Title IV aid, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 42.38% | $9,575.00 |
| Income 30k-48k | 10.82% | $8,448.00 |
| Income 48k-75k | 7.51% | $5,982.00 |
| Income 75k-110k | 5.96% | $4,884.00 |
| Income 110k + | 4.42% | $6,358.00 |
The table above shows students who are receiving Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more.
Of the 453 undergraduate students at University of Arkansas at Monticello around 98% (445 total) receive some form of grant aid. The typical amount awarded was $6,778.00.The bulk of which are Pell Grants.
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.