by our College Data Analytics TeamThe majority of students are not billed the advertised price of a school. Instead, they will be provided a financial aid package that will include a combination of scholarships, grants, loans, and work-study. The total cost of going to Aviation Institute of Maintenance - Chesapeake can seem tremendous, but do not forget that almost all students are given some form of financial help.
What financial aid options can Aviation Institute of Maintenance - Chesapeake offer you, and what will you qualify for? Keep reading for more information. Scroll down to see just how much financial aid could be open to you.
Your financial aid package, which may contain grants and scholarships, will be determined on your financial need. Read on to get a sense of the financial assistance available at Aviation Institute of Maintenance - Chesapeake.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
Looking at the entering class at Aviation Institute of Maintenance - Chesapeake, 83% of the incoming full-time class was awarded financial aid (about 35 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 64% | $6,577 |
| Institutional grants & scholarships | 12% | $5,998 |
| Federal Pell grants | 60% | $5,628 |
| State/local grants | 0% | — |
| Federal student loans | 60% | $6,977 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. Here, some 54% of undergraduates were awarded an average grant or scholarship of $7,433 (among about 127 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 54% | $7,433 |
| Federal Pell grants | 26% | $4,641 |
| Federal student loans | 17% | $9,235 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $5,381.
Since aid is largely need-based, the real cost of attendance falls steeply for lower-income families.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $20,994 |
| $30,001 – $75,000 | $23,750 |
| Over $75,000 | $25,635 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
After grants and scholarships come off the published price, what remains is the net price — the best estimate of true out-of-pocket cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $23,046 |
| Off-campus title-IV students | $22,841 |
To project your own net price, use Aviation Institute of Maintenance - Chesapeake’s online cost calculator: aviationmaintenance.edu/your-rights.
The middle student in the debt distribution at Aviation Institute of Maintenance - Chesapeake owes $19,500 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $19,500 |
| Median federal debt (graduates only) | $29,375 |
| Typical 10-year monthly payment (graduates) | $311.42/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
Looking only at the median can be misleading because it hides the spread. The percentiles below describe the cumulative federal debt distribution for borrowers at Aviation Institute of Maintenance - Chesapeake.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $5,343 |
| 75th percentile | $20,000 |
| 90th percentile (highest-debt students) | $20,000 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $19,625 |
| Middle income | $19,500 |
| High income | $16,212 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $19,500 |
| Continuing-generation students | $18,234 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $16,353 |
| Independent students | $26,250 |
These indicators are derived from the underlying debt data and summarize the overall picture at Aviation Institute of Maintenance - Chesapeake.
Most undergraduate borrowing runs through the federal Stafford loan program. These figures summarize annual Stafford program activity at Aviation Institute of Maintenance - Chesapeake:
| Metric | Value |
|---|---|
| Stafford loan recipients | 2469 |
| Total Stafford loan amount | $50,108,429 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 26 |
| Total GI Bill amount | $407,841 |
| Average GI Bill amount per recipient | $15,686 |
References
More about our data sources and methodologies.