Embry-Riddle Aeronautical University (ERAU) Financial Aid and Scholarships
Students Receiving Aid
86%
Total Aid Amount
$141.442M
Financial Aid Official Website
daytonabeach.erau.edu/financial-aid/index.html
It is interesting to note that, every year, around 95% of students at ERAUDB receive some kind of financial aid, while the total amount of assistance/loans provided is $18,522,058. More information regarding the financial assistance schemes can be accessed on ERAUDB’s official financial aid page at http://daytonabeach.erau.edu/financial-aid/index.html. Notably, a total of 28% of the applicants to Embry-Riddle Aeronautical University-Daytona Beach receive the Federal Grant every year. In comparison, 95% of the students are awarded the Student Grant, 94% get the Institution Grant, and 28% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,615, and the same stands at $7,185 for State Grant awardees and $13,163 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,988. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. Those with a family income below $30,000 per annum, would get an average federal aid of $21,573 in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $22,726 and $18,413, respectively. On the other hand, the average federal aid stands at $16,149 for those with an annual family income between $75,001 and $110,000, and at $14,257 for an income more than $110,000. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 53% of the applicants to Embry-Riddle Aeronautical University-Daytona Beach opt for student loans.
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