by our College Data Analytics TeamMany students will never be charged the complete price tag of a school. Rather, they are presented a financial aid deal that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The total cost of going to Lamson Institute can seem overpowering, but remember that the majority of students are given some form of financial assistance.
What financial aid options can Lamson Institute offer you, and what will you qualify for? Keep reading for more information. Read on to discover 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. Continue reading to find information to help you understand just how much assistance you can expect to receive from Lamson Institute.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. However, some types of aid are more desirable than others, and some students will receive more than others.
At Lamson Institute, 92% of the incoming full-time class was awarded financial aid some 343 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 80% | $6,420 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 78% | $5,972 |
| State/local grants | 8% | $5,640 |
| Federal student loans | 86% | $8,465 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. At Lamson Institute, around 54% of undergraduates were awarded an average grant or scholarship of $6,325 (across roughly 399 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 54% | $6,325 |
| Federal Pell grants | 51% | $5,864 |
| Federal student loans | 56% | $8,603 |
For on-campus title-IV students, average grant aid came to $5,150.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $23,722 |
| $30,001 – $75,000 | $25,226 |
| Over $75,000 | $29,407 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
Net price is the average annual cost after grants and scholarships are subtracted from the published cost of attendance — the figure closest to what a typical aid-receiving student actually pays.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $26,587 |
| Off-campus title-IV students | $26,569 |
For a personalized estimate based on your family’s financial situation, use Lamson Institute’s net price tool: lamson.edu/net-price-calculator/.
Graduating students at Lamson Institute carry a median federal student debt of $7,600 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $7,600 |
| Median federal debt (graduates only) | $7,853 |
| Typical 10-year monthly payment (graduates) | $83.25/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
Looking only at the median can be misleading because it hides the spread. These percentiles trace how cumulative federal debt is spread among borrowers at Lamson Institute.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,800 |
| 25th percentile | $5,134 |
| 75th percentile | $8,867 |
| 90th percentile (highest-debt students) | $9,500 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $7,600 |
| Middle income | $7,600 |
| High income | $5,133 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $7,600 |
| Continuing-generation students | $7,600 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,133 |
| Independent students | $8,489 |
A handful of calculated indicators summarize the debt outlook at Lamson Institute.
Stafford loans make up the bulk of federal direct lending to undergraduates. The annual Stafford volume below reflects program activity at Lamson Institute:
| Metric | Value |
|---|---|
| Stafford loan recipients | 12857 |
| Total Stafford loan amount | $99,095,600 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 72 |
| Total GI Bill amount | $1,191,445 |
| Average GI Bill amount per recipient | $16,548 |
References
More about our data sources and methodologies.