$4,929

Avg. Federal Grant

$5,466

Avg. Federal Loan

$72,054,200

Total Aid Awarded

University of Massachusetts-Lowell Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

58%

Total Aid Amount Average Total Aid Awarded per year.

$72.054M

Financial Aid Official Website

www.uml.edu/thesolutioncenter/financial-aid

Such schemes include Academic Achievement Scholarship, Academic Council Scholarship, Bank of America Scholarship Fund, and Chancellor's Merit Scholarship. As many as 90% of the students at UML get some sort of financial aid, and the total amount of assistance/loans provided is more than $52,227,020 in a year. For additional information about financial assistance schemes, one can head over to UML’s financial aid page at http://www.uml.edu/thesolutioncenter/financial-aid. The total percentage of candidates applying to University of Massachusetts-Lowell who receive the Federal Grant is 33%. Meanwhile, 78% of the applicants receive the Student Grant and 77% are awarded the Institution Grant, while 33% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,264, and the same stands at $1,987 for State Grant awardees and $8,460 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,389. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 70% of the applicants to University of Massachusetts-Lowell opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

33%

State Grant Aid

37%

Institution Grant Aid

78%

Pell Grant

33%

Average Aid Awarded

Federal Grant Aid

$4,929

State Grant Aid

$1,955

Institution Grant Aid

$7,865

Pell Grant

$4,579

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$16,841

$30,001 - $48,000

$14,912

$48,001 - $75,000

$12,238

$75,001 - $110,000

$6,547

Over $110,000

$2,880

Student Loans for University of Massachusetts-Lowell

Average Loan Amount Average Loan Amount received per year.

$7,604/Year

Students Taking Out Loans

70%

Loan Default Rate

5.2%

Minumum Credit ScoreApply in as little asVariable APRFixed APR
Discover Student LoansNot Available15 minutes or less2.954.74 View disclosures
Credible6202 minutes5.38%-16.99%14.43%-16.99%1 View disclosures
Sallie MaeNot Available15 minutes1.13% - 11.23%¹ (with autopay)3.50% - 12.60%¹ (with autopay) View disclosures

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