by our College Data Analytics TeamA large number of students are not billed the advertised price of a school. Instead, they will be provided a financial aid package that will include a combination of scholarships, grants, loans, and work-study. The total cost of going to American Institute - Somerset can seem tremendous, but do not forget that almost all students are given some form of financial help.
What financial aid options can American Institute - Somerset 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.
Your financial aid package, which may contain grants and scholarships, will be determined on your financial need. The information provided on this page can help you determine how much aid you may receive from American Institute - Somerset.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
Among first-time, full-time freshmen at American Institute - Somerset, 100% of the incoming full-time class was awarded financial aid around 109 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 78% | $4,850 |
| Institutional grants & scholarships | 4% | $2,523 |
| Federal Pell grants | 77% | $4,515 |
| State/local grants | 4% | $3,400 |
| Federal student loans | 83% | $6,570 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At American Institute - Somerset, approximately 77% of undergraduate students received gift aid averaging $4,172 (across approximately 343 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 77% | $4,172 |
| Federal Pell grants | 76% | $3,698 |
| Federal student loans | 83% | $6,382 |
For on-campus title-IV students, average grant aid came to $4,729.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $15,990 |
| $30,001 – $75,000 | $16,901 |
| Over $75,000 | $21,944 |
Each figure is the net price after grants and scholarships, not the published sticker price.
The net price strips out grant and scholarship aid from the sticker price to show roughly what families really pay.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $20,464 |
| Off-campus title-IV students | $16,629 |
For a personalized estimate based on your family’s financial situation, use American Institute - Somerset’s net price calculator: www.americaninstitute.edu/npc/somerset.htm.
The middle student in the debt distribution at American Institute - Somerset owes $9,304 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $9,304 |
| Median federal debt (graduates only) | $11,979 |
| Typical 10-year monthly payment (graduates) | $127.0/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
The numbers below show the full range, not just the middle of the distribution. Use the percentiles below to see the debt range at American Institute - Somerset.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $4,982 |
| 75th percentile | $11,206 |
| 90th percentile (highest-debt students) | $13,300 |
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 | $9,500 |
| Middle income | $8,521 |
| High income | $9,022 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,300 |
| Continuing-generation students | $9,500 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $8,483 |
| Independent students | $9,500 |
The figure below distills the debt data into a single burden category for American Institute - Somerset.
Most undergraduate borrowing runs through the federal Stafford loan program. Below is the annual Stafford program activity at American Institute - Somerset:
| Metric | Value |
|---|---|
| Stafford loan recipients | 13028 |
| Total Stafford loan amount | $123,886,892 |
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.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 5 |
| Total GI Bill amount | $58,884 |
| Average GI Bill amount per recipient | $11,777 |
References
More about our data sources and methodologies.