by our College Data Analytics TeamFinancial 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.
The amount of financial assistance and scholarships or grants you can get varies based on your circumstances. Keep reading to learn more to help you to know just how much aid and scholarships to expect from CSUMB.
California State University - Monterey Bay average financial aid offer for freshmen students is $9,235.00. 81% of reshman students get financial aid, most of which is in the form of grants and scholarships
Financial aid contains loans, grants, and scholarships. But college loans need to be repaid, thus they are not a real college discount.
A student loan isn’t a genuine college price reduction, but rather an additional cost consideration. Discover how much student loan debt from California State University - Monterey Bay you could end up dealing with.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
51% of new students (524 total) were offered scholarships at California State University - Monterey Bay, averaging $5,358.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 47% of freshmen (487 total) obtained a federal grant, for about $5,566.00 a piece.
Amount of Financial Assistance Per Income Level
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 19.79% | $14,197.00 |
| Income 30k-48k | 13.13% | $12,678.00 |
| Income 48k-75k | 13.90% | $9,070.00 |
| Income 75k-110k | 7.92% | $4,977.00 |
| Income 110k + | 5.31% | $1,661.00 |
The table above shows students who are receiving Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more.
81% of the 1036 undergraduates at California State University - Monterey Bay receive some sort of grant aid. This is a total of about 770 students getting an average of $9,235.00 per person.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.