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 Alabama A & M University can seem overwhelming, but bear in mind that many students are given some form of financial aid.
What financial aid options can AAMU offer you, and what will you qualify for? Keep reading for more information. Scroll down to find out just how much financial aid will 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 Alabama A & M University.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
At Alabama A & M University, 90% of entering full-time freshmen got some type of financial assistance approximately 1769 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 86% | $12,844 |
| Institutional grants & scholarships | 67% | $9,530 |
| Federal Pell grants | 67% | $6,594 |
| State/local grants | 3% | $1,699 |
| Federal student loans | 76% | $6,224 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At this school, some 80% of undergraduates were awarded an average grant or scholarship of $12,495 (covering around 4660 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 80% | $12,495 |
| Federal Pell grants | 63% | $6,427 |
| Federal student loans | 75% | $6,955 |
For on-campus title-IV students, average grant aid came to $9,532.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $13,827 |
| $30,001 – $75,000 | $14,810 |
| Over $75,000 | $18,583 |
Each figure is the net price after grants and scholarships, not the published sticker price.
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 | $17,621 |
| Off-campus title-IV students | $14,559 |
To project your own net price, use AAMU’s online cost calculator: www.aamu.edu/admissions-aid/tuition-fees/net-price-calculator.html.
A typical borrower at AAMU leaves with $16,600 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $16,600 |
| Median federal debt (graduates only) | $31,000 |
| Typical 10-year monthly payment (graduates) | $328.65/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
The numbers below show the full range, not just the middle of the distribution. The figures below chart the debt distribution at AAMU.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,381 |
| 25th percentile | $5,500 |
| 75th percentile | $32,208 |
| 90th percentile (highest-debt students) | $47,750 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $17,500 |
| Middle income | $16,000 |
| High income | $15,000 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $16,500 |
| Continuing-generation students | $17,275 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $16,057 |
| Independent students | $20,000 |
A handful of calculated indicators summarize the debt outlook at AAMU.
The Stafford program is the federal direct-loan vehicle most undergraduates use. The annual Stafford volume below reflects program activity at AAMU:
| Metric | Value |
|---|---|
| Stafford loan recipients | 32626 |
| Total Stafford loan amount | $969,920,135 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 249 |
| Total GI Bill amount | $1,318,436 |
| Average GI Bill amount per recipient | $5,295 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 0 |
| Total DoD amount | $0 |
References
More about our data sources and methodologies.