by our College Data Analytics TeamThe majority of students will never be charged the complete price tag of a school. Rather, they are presented a financial aid deal that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The total price of attendance at University of Memphis can feel tremendous, but do not forget that almost all students receive some sort of financial help.
What financial aid options can UofM offer, and what will you qualify for? Keep reading for more information. Scroll down to find out how much school funding will be available 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 Memphis.
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 Memphis, 95% of entering full-time freshmen got some type of financial assistance approximately 2405 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 92% | $11,793 |
| Institutional grants & scholarships | 59% | $3,594 |
| Federal Pell grants | 64% | $6,926 |
| State/local grants | 71% | $5,726 |
| Federal student loans | 47% | $4,986 |
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 UofM, some 82% of the undergraduate population received grant aid that averaged $8,459 (across approximately 13813 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 82% | $8,459 |
| Federal Pell grants | 41% | $6,619 |
| Federal student loans | 38% | $6,705 |
For students living on campus and receiving title-IV aid, grants averaged $12,772.
Because need-based aid scales with family income, what students actually pay differs sharply across income brackets.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $11,332 |
| $30,001 – $75,000 | $13,262 |
| Over $75,000 | $18,929 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
After grants and scholarships come off the published price, what remains is the net price — the best estimate of true out-of-pocket cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $12,397 |
| Off-campus title-IV students | $13,253 |
For a personalized estimate based on your family’s financial situation, use UofM’s net price tool: www.memphis.edu/financialaid/net_price_calculator.
The middle student in the debt distribution at UofM owes $15,809 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $15,809 |
| Median federal debt (graduates only) | $23,300 |
| Typical 10-year monthly payment (graduates) | $247.02/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 UofM.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,500 |
| 25th percentile | $7,056 |
| 75th percentile | $30,864 |
| 90th percentile (highest-debt students) | $45,000 |
Median debt varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $17,500 |
| Middle income | $15,000 |
| High income | $14,250 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $16,250 |
| Continuing-generation students | $15,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,743 |
| Independent students | $19,585 |
These indicators are derived from the underlying debt data and summarize the overall picture at UofM.
Stafford loans make up the bulk of federal direct lending to undergraduates. The annual Stafford volume below reflects program activity at UofM:
| Metric | Value |
|---|---|
| Stafford loan recipients | 76258 |
| Total Stafford loan amount | $2,167,222,860 |
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 | 352 |
| Total GI Bill amount | $3,158,822 |
| Average GI Bill amount per recipient | $8,974 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 80 |
| Total DoD amount | $274,302 |
| Average DoD amount per recipient | $3,429 |
References
More about our data sources and methodologies.