How Formations Institute's Financial Aid Changes

All Undergraduate Students Financial Aid Over Time

The following table and chart show the trends of financial aid for all undergraduate students at Formations Institute since 2013.

For that period, the average number of students who received grants aid/scholarships is 46, which is 81.78 % of all undergraduate students. 29 students which is 51.33% of undergraduate students received federal student loans and the average loan amount is $6,569.

Year	Grant or Scholarship^*		Pell Grants		Federal Student Loans
Year	Number Received (percent^**)	Average Amount	Number Received (percent^**)	Average Amount	Number Received (percent^**)	Average Amount
2013-14	62 (81%)	$4,716	57 (74%)	$3,580	46 (60%)	$4,861
2014-15	58 (82%)	$4,333	55 (77%)	$3,924	35 (49%)	$6,332
2015-16	49 (89%)	$5,072	46 (84%)	$4,262	32 (58%)	$5,972
2016-17	54 (96%)	$5,509	50 (89%)	$4,480	35 (63%)	$7,790
2017-18	50 (86%)	$5,345	47 (81%)	$4,941	24 (41%)	$7,238
2018-19	36 (69%)	$6,591	36 (69%)	$5,785	25 (48%)	$7,358
2019-20	43 (78%)	$4,703	38 (69%)	$4,388	20 (36%)	$7,085
2020-21	34 (69%)	$5,021	33 (67%)	$4,961	18 (37%)	$7,771
2021-22	32 (86%)	$4,107	31 (84%)	$3,981	26 (70%)	$4,710
Average	46 (81.78%)	$5,044	44 (77.11%)	$4,478	29 (51.33%)	$6,569

Freshmen (First-time, Full-time Undergraduate) Financial Aid Over Time

Overview

For the last 10 years, on average, 19 (86.33 % of students) received grants or scholarships and its average amount is $4,781. It can cover 27.47% of tuition & fees ($17,400).

In addition, 17 (73.78 % of students) students get helped from the students loans (average amount : $7,098).

Year	Grants or Scholarships^*		Student Loans
Year	Number Received (percent^**)	Average Amount	Number Received (percent^**)	Average Amount
2013-14	38 (95%)	$3,643	32 (80%)	$5,761
2014-15	18 (72%)	$4,785	22 (88%)	$7,731
2015-16	15 (100%)	$3,929	11 (73%)	$7,918
2016-17	20 (100%)	$4,441	16 (80%)	$6,819
2017-18	16 (76%)	$5,595	16 (76%)	$8,004
2018-19	23 (96%)	$5,865	18 (75%)	$7,798
2019-20	16 (70%)	$4,950	14 (61%)	$7,311
2020-21	16 (89%)	$5,611	12 (67%)	$9,092
2021-22	11 (79%)	$4,206	9 (64%)	$3,445
Average	19 (86.33%)	$4,781	17 (73.78%)	$7,098

^*Grant or scholarship aid includes aid received, from the federal government, state or local government, the institution, and other sources known by the institution.

^**percentage of number of students receiving aids among all undergraduate students.

Grants/Scholarship

The following table shows the trends of grants or scholarships over time. For the last 10 years, on average, 18 (79.89 % of students) received Pell (federal) grants and its average amount is $4,858.

Year	Federal (Pell) Grants		Other Federal		State/Local government		Institutional
Year	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount
2013-14	33 (83%)	$3,862	-	-	-	-	5 (13%)	$2,200
2014-15	18 (72%)	$4,785	-	-	-	-	-	-
2015-16	12 (80%)	$4,328	-	-	-	-	3 (20%)	$2,333
2016-17	16 (80%)	$4,926	-	-	-	-	4 (20%)	$2,500
2017-18	16 (76%)	$4,970	-	-	-	-	5 (24%)	$2,000
2018-19	23 (96%)	$5,865	-	-	-	-	-	-
2019-20	16 (70%)	$4,950	-	-	-	-	-	-
2020-21	15 (83%)	$5,918	-	-	-	-	1 (6%)	$1,000
2021-22	11 (79%)	$4,115	-	-	-	-	1 (7%)	$1,000
Average	18 (79.89%)	$4,858	-	-	-	-	3 (15.00%)	$1,839

^*Grant or scholarship aid includes aid received, from the federal government, state or local government, the institution, and other sources known by the institution.

^**percentage of number of students receiving aids among all undergraduate students..

Student Loans

The following table describes number of students and average amount of loans by loan type. The following table shows the trends of grants or scholarships over time.

For the last 10 years, on average, 17 (73.78 % of students) get any students loan help and its average loan amount is $17.

Year	Total		Federal student loans		Other student loans
Year	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount
2013-14	32 (80%)	$5,761	32 (80%)	$5,761	-	-
2014-15	22 (88%)	$7,731	22 (88%)	$7,731	-	-
2015-16	11 (73%)	$7,918	11 (73%)	$7,918	-	-
2016-17	16 (80%)	$6,819	16 (80%)	$6,819	-	-
2017-18	16 (76%)	$8,004	16 (76%)	$8,004	-	-
2018-19	18 (75%)	$7,798	18 (75%)	$7,798	-	-
2019-20	14 (61%)	$7,311	14 (61%)	$7,311	-	-
2020-21	12 (67%)	$9,092	12 (67%)	$9,092	-	-
2021-22	9 (64%)	$3,445	9 (64%)	$3,445	-	-
Average	17 (73.78%)	$7,098	17 (73.78%)	$7,098	-	-

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Scholarships, Grants, and Loan Trends at Formations Institute

All Undergraduate Students Financial Aid Over Time

Freshmen (First-time, Full-time Undergraduate) Financial Aid Over Time