by our College Data Analytics TeamA lot of students will never be charged 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 sum total of attendance at Loraines Academy & Spa can sound overpowering, but remember that the majority of students get some type of financial assistance.
What financial assistance options will Loraines Academy offer you, and what will you qualify for? Read on for more information. Keep scrolling to see 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 Loraines Academy & Spa.
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 Loraines Academy & Spa, 72% of new full-time first-years were awarded at least some aid approximately 36 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 70% | $3,961 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 70% | $3,961 |
| State/local grants | 0% | — |
| Federal student loans | 70% | $4,490 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. At this school, approximately 55% of undergraduate students received gift aid averaging $3,807 (across approximately 69 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 55% | $3,807 |
| Federal Pell grants | 55% | $3,807 |
| Federal student loans | 54% | $4,717 |
For students living on campus and receiving title-IV aid, grants averaged $3,606.
The figures below show the average net price — cost after all grant and scholarship aid — broken out by family income.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $11,727 |
| $30,001 – $75,000 | $11,598 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
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 | $16,186 |
| Off-campus title-IV students | $11,727 |
For a personalized estimate based on your family’s financial situation, use Loraines Academy’s online cost calculator: www.lorainesacademy.edu/net_price_calculator/npcalc.htm.
The median student at Loraines Academy graduates with $5,833 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $5,833 |
| Median federal debt (graduates only) | $6,333 |
| Typical 10-year monthly payment (graduates) | $67.14/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. Use the percentiles below to see the debt range at Loraines Academy.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,333 |
| 25th percentile | $4,750 |
| 75th percentile | $8,175 |
| 90th percentile (highest-debt students) | $13,000 |
Debt outcomes are not uniform — they shift with income, first-generation status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $5,833 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,666 |
| Independent students | $6,333 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. Loraines Academy.
The Stafford loan program is the largest source of federal direct loans to undergraduates. These figures summarize annual Stafford program activity at Loraines Academy:
| Metric | Value |
|---|---|
| Stafford loan recipients | 1451 |
| Total Stafford loan amount | $10,803,588 |
If you are a veteran or active-duty service member, the GI Bill and DoD Tuition Assistance are the primary federal programs you can use at this school.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 2 |
| Total GI Bill amount | $19,900 |
| Average GI Bill amount per recipient | $9,950 |
References
More about our data sources and methodologies.