by our College Data Analytics TeamMany students are not billed 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 Averett University can sound tremendous, but do not forget that almost all students get some type of financial help.
Just what financing solutions does AU provide, and just what are you going to be eligible for? Keep scrolling for answers. Keep going to see just how much financial aid could be open to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Read on to get a sense of the financial assistance available at Averett University.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. However, some types of aid are more desirable than others, and some students will receive more than others.
Among first-time, full-time freshmen at Averett University, 99% of entering full-time freshmen got some type of financial assistance some 278 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 99% | $29,998 |
| Institutional grants & scholarships | 95% | $25,602 |
| Federal Pell grants | 46% | $5,866 |
| State/local grants | 50% | $4,689 |
| Federal student loans | 69% | $5,838 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. At AU, around 87% of undergrads got grants or scholarships worth on average $25,256 (among about 1028 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 87% | $25,256 |
| Federal Pell grants | 41% | $5,325 |
| Federal student loans | 63% | $7,132 |
On-campus students receiving title-IV aid were awarded grants averaging $30,535.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $21,899 |
| $30,001 – $75,000 | $20,927 |
| Over $75,000 | $26,697 |
Each figure is the net price after grants and scholarships, not the published sticker price.
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 | $22,925 |
| Off-campus title-IV students | $23,262 |
For a customized cost estimate, visit AU’s official net price calculator: www.averett.edu/financial-aid/netprice-calculator/.
The median federal debt load at AU comes to $16,750 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $16,750 |
| Median federal debt (graduates only) | $25,000 |
| Typical 10-year monthly payment (graduates) | $265.04/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
Looking only at the median can be misleading because it hides the spread. The percentiles below describe the cumulative federal debt distribution for borrowers at AU.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,000 |
| 25th percentile | $6,500 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $38,229 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $16,250 |
| Middle income | $17,125 |
| High income | $17,225 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $16,018 |
| Continuing-generation students | $17,565 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $15,019 |
| Independent students | $20,000 |
These indicators are derived from the underlying debt data and summarize the overall picture at AU.
Stafford loans are the federal government’s primary direct undergraduate lending program. These figures summarize annual Stafford program activity at AU:
| Metric | Value |
|---|---|
| Stafford loan recipients | 10244 |
| Total Stafford loan amount | $240,203,561 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 90 |
| Total GI Bill amount | $1,641,271 |
| Average GI Bill amount per recipient | $18,236 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 5 |
| Total DoD amount | $5,250 |
| Average DoD amount per recipient | $1,050 |
References
More about our data sources and methodologies.