by our College Data Analytics TeamA lot of 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 Carleton College can sound overpowering, but remember that the majority of students get some type of financial assistance.
Just what financial assistance solutions will Carleton provide, and just what are you going to be eligible for? Read on for answers. Keep going to find out what amount of financial assistance will be accessible to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. Read on to get a sense of the financial assistance available at Carleton College.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Bear in mind that not all aid is equal, and the amount any one student receives can vary widely.
At Carleton College, 64% of new full-time first-years were awarded at least some aid some 346 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 59% | $56,846 |
| Institutional grants & scholarships | 59% | $53,139 |
| Federal Pell grants | 21% | $6,191 |
| State/local grants | 10% | $6,933 |
| Federal student loans | 40% | $3,973 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. Here, roughly 63% of undergraduate students received gift aid averaging $52,568 (across approximately 1301 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 63% | $52,568 |
| Federal Pell grants | 17% | $5,736 |
| Federal student loans | 43% | $5,045 |
For on-campus title-IV students, average grant aid came to $59,486.
The figures below show the average net price — cost after all grant and scholarship aid — broken out by family income.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $11,697 |
| $30,001 – $75,000 | $11,169 |
| Over $75,000 | $37,308 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
The net price represents the average annual cost a title-IV-receiving student pays after grant aid is subtracted from the full cost of attendance.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $25,407 |
| Off-campus title-IV students | $27,320 |
For a customized cost estimate, visit Carleton’s net price tool: www.carleton.edu/admissions/apply/afford/aid-estimators/npc/.
Graduating students at Carleton carry a median federal student debt of $15,960 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $15,960 |
| Median federal debt (graduates only) | $16,750 |
| Typical 10-year monthly payment (graduates) | $177.58/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
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 Carleton.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $6,000 |
| 25th percentile | $12,000 |
| 75th percentile | $23,500 |
| 90th percentile (highest-debt students) | $27,121 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $14,178 |
| Middle income | $15,167 |
| High income | $16,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $14,669 |
| Continuing-generation students | $16,250 |
The Department of Education computes summary indicators that describe debt outcomes at a glance. Carleton.
Stafford loans make up the bulk of federal direct lending to undergraduates. The aggregate figures below show how active the program is at Carleton:
| Metric | Value |
|---|---|
| Stafford loan recipients | 2531 |
| Total Stafford loan amount | $28,310,796 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 8 |
| Total GI Bill amount | $499,607 |
| Average GI Bill amount per recipient | $62,451 |
References
More about our data sources and methodologies.