by our College Data Analytics TeamMany students will not be asked to pay the full, advertised sticker price of a school. Instead, they will be given a financial aid offer that will include a combination of scholarships, grants, loans, and work-study. The total cost of going to Erie 1 BOCES can seem overpowering, but remember that the majority of students are given some form of financial assistance.
Just what financial assistance solutions will Erie 1 BOCES provide, and just what are you going to be eligible for? Read on for answers. Keep reading to discover how much school funding could be available to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. Continue reading to find information to help you understand just how much assistance you can expect to receive from Erie 1 BOCES.
Financial aid, in the form of loans, grants, work-study, and scholarships, is one way colleges reduce the cost of attendance so most students can actually afford to attend. However, some types of aid are more desirable than others, and some students will receive more than others.
For incoming first-year students at Erie 1 BOCES, 91% of first-time, full-time freshmen received some form of financial aid approximately 50 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 91% | $4,376 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 91% | $3,600 |
| State/local grants | 2% | $3,000 |
| Federal student loans | 82% | $5,000 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. Here, around 54% of undergraduate students received gift aid averaging $5,525 (covering around 362 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 54% | $5,525 |
| Federal Pell grants | 54% | $4,472 |
| Federal student loans | 61% | $5,618 |
For on-campus title-IV students, average grant aid came to $4,378.
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 | $11,423 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
The net price represents the average annual cost a title-IV-receiving student pays after grant aid is subtracted from the full cost of attendance.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $12,987 |
| Off-campus title-IV students | $11,423 |
To get a personalized net price estimate, try Erie 1 BOCES’s NPC: www.e1b.org/en/adult-career-training/resources/Student-Services-Adult-Ed/NetPriceCalculator2020/index.html.
A typical borrower at Erie 1 BOCES leaves with $7,781 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $7,781 |
| Median federal debt (graduates only) | $9,500 |
| Typical 10-year monthly payment (graduates) | $100.72/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. The four reference points below map the debt distribution at Erie 1 BOCES.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,991 |
| 25th percentile | $4,750 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $9,500 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $9,495 |
| Middle income | $9,500 |
| High income | $5,500 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $7,948 |
| Continuing-generation students | $6,973 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $9,500 |
These indicators are derived from the underlying debt data and summarize the overall picture at Erie 1 BOCES.
Most undergraduate borrowing runs through the federal Stafford loan program. Below is the annual Stafford program activity at Erie 1 BOCES:
| Metric | Value |
|---|---|
| Stafford loan recipients | 2779 |
| Total Stafford loan amount | $19,898,278 |
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 | 8 |
| Total GI Bill amount | $47,250 |
| Average GI Bill amount per recipient | $5,906 |
References
More about our data sources and methodologies.