by our College Data Analytics TeamMany students will never be charged 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 sum total of attendance at Baker College can sound overpowering, but remember that the majority of students get some type of financial assistance.
Just what financial aid solutions can Baker College deliver, and just what are you going to be eligible for? Keep reading for answers. Read on to see 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. Use the information below to understand how much financial assistance you may get from Baker College.
Financial aid, in the form of loans, grants, work-study, and scholarships, is one way colleges reduce the cost of attendance so most students can actually afford to attend. However, some types of aid are more desirable than others, and some students will receive more than others.
For incoming first-year students at Baker College, 93% of first-year full-time students received aid of some kind (about 231 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 93% | $10,514 |
| Institutional grants & scholarships | 75% | $4,976 |
| Federal Pell grants | 48% | $5,170 |
| State/local grants | 64% | $5,392 |
| Federal student loans | 39% | $5,137 |
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 Baker College, some 74% of undergraduate students received gift aid averaging $5,871 (for some 2651 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 74% | $5,871 |
| Federal Pell grants | 38% | $4,091 |
| Federal student loans | 45% | $6,748 |
For on-campus title-IV students, average grant aid came to $11,369.
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 | $12,863 |
| $30,001 – $75,000 | $14,155 |
| Over $75,000 | $18,245 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
After grants and scholarships come off the published price, what remains is the net price — the best estimate of true out-of-pocket cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $13,157 |
| Off-campus title-IV students | $15,171 |
To get a personalized net price estimate, try Baker College’s net price calculator: baker.clearcostcalculator.com/student/default/netpricecalculator/survey.
The middle student in the debt distribution at Baker College owes $16,753 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $16,753 |
| Median federal debt (graduates only) | $25,000 |
| Typical 10-year monthly payment (graduates) | $265.04/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 percentiles below describe the cumulative federal debt distribution for borrowers at Baker College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,280 |
| 25th percentile | $5,000 |
| 75th percentile | $27,690 |
| 90th percentile (highest-debt students) | $43,958 |
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 | $18,422 |
| Middle income | $17,344 |
| High income | $12,058 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $17,481 |
| Continuing-generation students | $14,250 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $12,834 |
| Independent students | $20,604 |
These indicators are derived from the underlying debt data and summarize the overall picture at Baker College.
Stafford loans make up the bulk of federal direct lending to undergraduates. The aggregate figures below show how active the program is at Baker College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 131549 |
| Total Stafford loan amount | $2,749,171,459 |
Veterans and active-duty service members may qualify for the Post-9/11 GI Bill or DoD Tuition Assistance.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 89 |
| Total GI Bill amount | $559,087 |
| Average GI Bill amount per recipient | $6,282 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 36 |
| Total DoD amount | $98,688 |
| Average DoD amount per recipient | $2,741 |
References
More about our data sources and methodologies.