by our College Data Analytics TeamMany students will not be asked to pay 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 total cost of going to Berea College can seem tremendous, but do not forget that almost all students are given some form of financial help.
What financial aid options can Berea offer you, and what will you qualify for? Keep reading for more information. Keep going 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. Read on to get a sense of the financial assistance available at Berea College.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
For incoming first-year students at Berea College, 100% of new full-time first-years were awarded at least some aid around 413 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $54,830 |
| Institutional grants & scholarships | 100% | $45,305 |
| Federal Pell grants | 88% | $5,798 |
| State/local grants | 44% | $9,347 |
| Federal student loans | 5% | $3,381 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At this school, approximately 99% of undergraduate students received gift aid averaging $54,272 (for some 1472 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 99% | $54,272 |
| Federal Pell grants | 84% | $6,350 |
| Federal student loans | 8% | $3,530 |
For on-campus title-IV students, average grant aid came to $54,612.
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 | $3,932 |
| $30,001 – $75,000 | $4,744 |
| Over $75,000 | $7,570 |
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 | $6,106 |
| Off-campus title-IV students | $4,483 |
For an estimate tailored to your family circumstances, see Berea’s net price tool: berea.studentaidcalculator.com/survey.aspx.
The median student at Berea graduates with $3,516 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $3,516 |
| Median federal debt (graduates only) | $3,591 |
| Typical 10-year monthly payment (graduates) | $38.07/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
The median alone does not show how widely outcomes vary across the student body. Use the percentiles below to see the debt range at Berea.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,000 |
| 25th percentile | $2,268 |
| 75th percentile | $8,279 |
| 90th percentile (highest-debt students) | $16,400 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Middle income | $4,478 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $3,194 |
| Continuing-generation students | $3,775 |
These indicators are derived from the underlying debt data and summarize the overall picture at Berea.
The Stafford program is the federal direct-loan vehicle most undergraduates use. Below is the annual Stafford program activity at Berea:
| Metric | Value |
|---|---|
| Stafford loan recipients | 2198 |
| Total Stafford loan amount | $18,237,859 |
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 recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 4 |
| Total GI Bill amount | $90,675 |
| Average GI Bill amount per recipient | $22,669 |
References
More about our data sources and methodologies.