by our College Data Analytics TeamA lot of students are not billed 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 price tag of going to Allegany College of Maryland can appear tremendous, but do not forget that almost all students obtain some kind of financial help.
What financial aid options can Allegany College of Maryland offer, and what will you qualify for? Keep reading for more information. Keep reading to learn how much school funding will be available to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Read on to get a sense of the financial assistance available at Allegany College of Maryland.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Bear in mind that not all aid is equal, and the amount any one student receives can vary widely.
Among first-time, full-time freshmen at Allegany College of Maryland, 95% of entering full-time freshmen got some type of financial assistance some 271 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 91% | $7,061 |
| Institutional grants & scholarships | 60% | $2,617 |
| Federal Pell grants | 60% | $5,899 |
| State/local grants | 40% | $2,739 |
| Federal student loans | 37% | $5,345 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At Allegany College of Maryland, around 88% of undergraduate students received gift aid averaging $4,455 (among about 2333 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 88% | $4,455 |
| Federal Pell grants | 32% | $4,760 |
| Federal student loans | 30% | $6,149 |
For students living on campus and receiving title-IV aid, grants averaged $7,351.
Because need-based aid scales with family income, what students actually pay differs sharply across income brackets.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $9,026 |
| $30,001 – $75,000 | $9,575 |
| Over $75,000 | $13,801 |
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 | $8,819 |
| Off-campus title-IV students | $10,107 |
To project your own net price, use Allegany College of Maryland’s net price tool: services.allegany.edu/netprice/.
The median student at Allegany College of Maryland graduates with $8,250 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $8,250 |
| Median federal debt (graduates only) | $13,702 |
| Typical 10-year monthly payment (graduates) | $145.26/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
The numbers below show the full range, not just the middle of the distribution. These percentiles trace how cumulative federal debt is spread among borrowers at Allegany College of Maryland.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $4,750 |
| 75th percentile | $15,490 |
| 90th percentile (highest-debt students) | $25,250 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $8,250 |
| Middle income | $8,250 |
| High income | $8,250 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $8,250 |
| Continuing-generation students | $7,722 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,775 |
| Independent students | $10,166 |
The figure below distills the debt data into a single burden category for Allegany College of Maryland.
Stafford loans make up the bulk of federal direct lending to undergraduates. The annual Stafford volume below reflects program activity at Allegany College of Maryland:
| Metric | Value |
|---|---|
| Stafford loan recipients | 10143 |
| Total Stafford loan amount | $122,059,308 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 18 |
| Total GI Bill amount | $73,386 |
| Average GI Bill amount per recipient | $4,077 |
References
More about our data sources and methodologies.