by our College Data Analytics TeamMost college students will not be charged the full price tag of a school. Instead, they will be offered a financial aid package that includes a combination of loans, grants, scholarships and possibly work-study opportunities.
Uncover the various financial aid options provided by UMW and determine which ones you may be eligible for by continuing your exploration.
University of Mary Washington average financial aid offer for freshmen students is $6,184.00. About 93% of first year students receive financial aid, most of which is in the form of loans.
Financial aid helps lower the cost, or the full retail price of the institution. But bear in mind that the only true college discount is scholarships & grants.
Student debt should be thought of as an “outcome” rather than “aid”. Read more about student loan debt at University of Mary Washington.
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.
85% of new students (744 total) were offered scholarships at University of Mary Washington, averaging $4,744.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 18% of first years (159 total) were awarded federal grant aid, averaging $4,832.00 each.
The table below demonstrates scholarship and grant allocations by income level for freshmen receiving any type of federal Title IV assistance, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 7.44% | $13,738.00 |
| Income 30k-48k | 4.00% | $11,868.00 |
| Income 48k-75k | 4.69% | $8,599.00 |
| Income 75k-110k | 0.57% | $988.00 |
| Income 110k + | 0.00% | $0.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
777 UMW undergrads obtain grant aid (this is about 93% of the entire undergraduate student population). The average amount these students receive is $6,184.00.
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.
