St. Marys University Financial Aid and Scholarships
Students Receiving Aid
93%
Total Aid Amount
$47.410M
Financial Aid Official Website
https://www.stmarytx.edu/admission/financial-aid/
It is interesting to note that almost every student at SMU receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $9,170,296. More information regarding the financial assistance schemes can be accessed on SMU’s official financial aid page at https://www.stmarytx.edu/admission/financial-aid/. The total percentage of candidates applying to St. Mary's University who receive the Federal Grant is 43%. Meanwhile, 100% of the applicants receive the Student Grant and 100% are awarded the Institution Grant, while 43% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,391, the State Grant receivers and Institution Grant beneficiaries get $3,915 and $18,244, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,838. 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. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $25,675 per year. The average aid amount stands at $25,375 for an annual family income between $30,001 and $48,000. This amount comes to $21,650 for those who fall under the $48,001-$75,000 family income bracket. On the other hand, the average federal aid stands at $18,569 for those with an annual family income between $75,001 and $110,000, and at $16,509 for an income more than $110,000. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At SMU, an estimated number of 65% of the applicants choose to go for student loans.
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