by our College Data Analytics TeamA lot of students are not billed the full sticker price of a school. Rather, they are offered a financial aid plan that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The price tag of going to Penrose Academy can appear overwhelming, but bear in mind that many students obtain some kind of financial aid.
What financial aid options can Penrose Academy offer you, and what will you qualify for? Keep reading for more information. Read on to discover what amount of financial assistance could be accessible to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. The figures below will help you estimate the aid you might receive from Penrose Academy.
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.
Looking at the entering class at Penrose Academy, 52% of new full-time first-years were awarded at least some aid some 66 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 33% | $5,067 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 32% | $4,879 |
| State/local grants | 0% | — |
| Federal student loans | 50% | $5,590 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. At this school, some 22% of undergraduates were awarded an average grant or scholarship of $4,305 (for some 159 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 22% | $4,305 |
| Federal Pell grants | 21% | $4,013 |
| Federal student loans | 36% | $5,326 |
For on-campus title-IV students, average grant aid came to $3,326.
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 | $23,599 |
| $30,001 – $75,000 | $24,774 |
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 | $22,586 |
| Off-campus title-IV students | $23,650 |
For a customized cost estimate, visit Penrose Academy’s NPC: penrose.edu/wp-content/uploads/2024/01/index.html.
The median student at Penrose Academy graduates with $6,333 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $6,333 |
| Median federal debt (graduates only) | $6,333 |
| Typical 10-year monthly payment (graduates) | $67.14/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
Looking only at the median can be misleading because it hides the spread. The four reference points below map the debt distribution at Penrose Academy.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,666 |
| 25th percentile | $5,433 |
| 75th percentile | $10,556 |
| 90th percentile (highest-debt students) | $14,624 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $6,333 |
| Middle income | $6,333 |
| High income | $5,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,333 |
| Continuing-generation students | $6,333 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,666 |
| Independent students | $6,333 |
The figure below distills the debt data into a single burden category for Penrose Academy.
The Stafford program is the federal direct-loan vehicle most undergraduates use. The aggregate figures below show how active the program is at Penrose Academy:
| Metric | Value |
|---|---|
| Stafford loan recipients | 1596 |
| Total Stafford loan amount | $12,941,767 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 4 |
| Total GI Bill amount | $58,600 |
| Average GI Bill amount per recipient | $14,650 |
References
More about our data sources and methodologies.