by our College Data Analytics TeamMany students will never be charged 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 price tag of going to Art Academy of Cincinnati can appear overpowering, but remember that the majority of students obtain some kind of financial assistance.
What financial assistance options will AAC offer you, and what will you qualify for? Read on for more information. Keep going to discover just how much financial aid could be open to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. The information provided on this page can help you determine how much aid you may receive from Art Academy of Cincinnati.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
Looking at the entering class at Art Academy of Cincinnati, 100% of first-time, full-time freshmen received some form of financial aid some 57 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $19,460 |
| Institutional grants & scholarships | 100% | $15,399 |
| Federal Pell grants | 60% | $4,780 |
| State/local grants | 32% | $3,525 |
| Federal student loans | 63% | $5,045 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. Here, roughly 99% of undergraduates were awarded an average grant or scholarship of $15,114 (across roughly 253 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 99% | $15,114 |
| Federal Pell grants | 51% | $5,465 |
| Federal student loans | 69% | $11,941 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $19,626.
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 | $42,895 |
| $30,001 – $75,000 | $44,430 |
| Over $75,000 | $32,608 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
Net price is the cost remaining after grant and scholarship aid is subtracted from the sticker price, and it is the most useful single number for estimating real cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $34,253 |
| Off-campus title-IV students | $38,041 |
For a customized cost estimate, visit AAC’s online cost calculator: www.artacademy.edu/about-aac/consumer-information-statistics/net-price-calculator.
Graduating students at AAC carry a median federal student debt of $11,750 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $11,750 |
| Median federal debt (graduates only) | $27,000 |
| Typical 10-year monthly payment (graduates) | $286.24/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 AAC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,750 |
| 25th percentile | $5,500 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $33,596 |
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 | $12,000 |
| High income | $14,000 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,500 |
| Continuing-generation students | $17,208 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $10,500 |
| Independent students | $25,250 |
These indicators are derived from the underlying debt data and summarize the overall picture at AAC.
Most undergraduate borrowing runs through the federal Stafford loan program. The totals below capture Stafford lending at AAC:
| Metric | Value |
|---|---|
| Stafford loan recipients | 1228 |
| Total Stafford loan amount | $22,540,728 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 7 |
| Total GI Bill amount | $139,887 |
| Average GI Bill amount per recipient | $19,984 |
References
More about our data sources and methodologies.