by our College Data Analytics TeamA large number of students will never be charged 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 sum total of attendance at Allen College can sound overwhelming, but bear in mind that many students get some type of financial aid.
What financial aid options can Allen College offer you, and what will you qualify for? Keep reading for more information. Read on to see just how much financial aid could be open to you.
Eligibility for aid and scholarships is driven mostly by your household’s income and need. Continue reading to find information to help you understand just how much assistance you can expect to receive from Allen College.
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.
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 Allen College, some 94% of undergrads got grants or scholarships worth on average $9,236 (for some 261 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 94% | $9,236 |
| Federal Pell grants | 24% | $4,810 |
| Federal student loans | 68% | $7,566 |
A typical borrower at Allen College leaves with $15,000 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $15,000 |
| Median federal debt (graduates only) | $18,750 |
| Typical 10-year monthly payment (graduates) | $198.78/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. The figures below chart the debt distribution at Allen College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,150 |
| 25th percentile | $9,500 |
| 75th percentile | $21,233 |
| 90th percentile (highest-debt students) | $28,000 |
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 | $15,000 |
| Middle income | $16,460 |
| High income | $15,000 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $15,000 |
| Continuing-generation students | $15,000 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,981 |
| Independent students | $20,834 |
The figure below distills the debt data into a single burden category for Allen College.
The Stafford loan program is the largest source of federal direct loans to undergraduates. The annual Stafford volume below reflects program activity at Allen College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 2351 |
| Total Stafford loan amount | $55,638,667 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 7 |
| Total GI Bill amount | $111,047 |
| Average GI Bill amount per recipient | $15,864 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 2 |
| Total DoD amount | $4,500 |
| Average DoD amount per recipient | $2,250 |
References
More about our data sources and methodologies.