by our College Data Analytics TeamThe majority of college students don’t pay the full price for their education, as financial aid packages, including scholarships, grants, loans, and work-study opportunities, help to offset the costs.
Discover the financial aid possibilities at Central and learn what assistance you might qualify for by continuing to read.
$31,712.00 is the typical Central College’s first year financial aid package. 100% of reshman students get financial aid, most of which is in the form of grants and scholarships
A financial aid package includes loans, grants, and scholarships. However, student loans have to be paid back, so they aren’t a true discount.
Student debt should be thought of as an “outcome” rather than “aid”. Read more about student loan debt at Central College.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The numbers below apply to scholarships and grants primarily provided by Central College.
100% of incoming freshmen (337 total) were given scholarships at Central College, averaging $27,852.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 35% of first-year students (117 total) got federal grant aid, averaging $5,217.00 per person.
The following table displays scholarship and grant allocations by family income for freshman students receiving any kind of federal Title IV assistance, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 10.39% | $37,899.00 |
| Income 30k-48k | 10.98% | $34,890.00 |
| Income 48k-75k | 10.39% | $33,836.00 |
| Income 75k-110k | 19.29% | $31,407.00 |
| Income 110k + | 31.75% | $29,620.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
100% of the 337 undergraduates at Central College receive some sort of grant aid. This is a total of about 337 students getting an average of $31,712.00 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.