Lafayette College's average financial aid package for incoming freshmen is $38,258. Approximately 56.0% of incoming students receive some form of financial assistance, the majority of which is in the form of scholarships and grants.
These scholarships and grants are primarily provided by the college itself. In fact, 356 incoming freshmen were awarded scholarships at Lafayette College, averaging $30,488. This ranks in the top 20th percentile of all colleges nationwide.
In addition to scholarships, 82 students were awarded federal grant aid, averaging $5,549 each.
The chart below shows the average amount of scholarship and grant aid distributed to all freshmen.
The table below shows grant and scholarship distributions by income level for freshman students receiving any form of federally-funded Title IV assistance, including Federal PLUS loans.
|Income Level||Percent of Freshman Students||Average Assistance|
|Income 110k +||22.7%||$13,677|
At Lafayette College, 52.0% of incoming students take out a loan to help defray freshman year costs, averaging $6,443. This amount includes both private and federally-funded student loans. The average federal loan is $5,446, 99.0% of the first-year borrowing cap of $5,500 for the typical first-year dependent student. (Independent students and those with parents who do not qualify for PLUS loans have higher borrowing caps.) Should you borrow at this average rate each year, over the course of four years you will have borrowed $25,772.
Were you surprised by how much you will have borrowed by the time you graduate? These numbers are based on borrowing the same amount each year, but what if you borrow more? These numbers also do not include any loans where the 'parent' is the borrower, even though Parent PLUS loans are frequently included in financial aid packages.
43.0% of all undergraduate students at Lafayette College utilize federal student loans to help pay for their college education, averaging $6,281 per year. This amount is 15.3% higher than the $5,446 amount borrowed by freshmen, indicating an increasing gap between available funds and college costs, and an increasing reliance on student loans.
Should you borrow at the average loan rate each year, over the course of four years you will have borrowed $25,124.
|Financial Aid Department Website||finaid.lafayette.edu/|
|Net Price Calculator||npc.collegeboard.org/student/app/lafayette|