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 sum total of attendance at Central Lakes College-Brainerd can sound overwhelming, but bear in mind that many students get some type of financial aid.
Just what financial aid solutions can Central Lakes College provide, and just what are you going to be eligible for? Keep reading for answers. Read on to discover what amount of financial assistance could be accessible to you.
Your financial aid package, which may contain grants and scholarships, will be determined on your financial need. The figures below will help you estimate the aid you might receive from Central Lakes College-Brainerd.
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. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
Among first-time, full-time freshmen at Central Lakes College-Brainerd, 88% of entering full-time freshmen got some type of financial assistance roughly 340 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 77% | $5,579 |
| Institutional grants & scholarships | 41% | $742 |
| Federal Pell grants | 46% | $4,949 |
| State/local grants | 57% | $2,743 |
| Federal student loans | 35% | $4,948 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At this school, some 43% of undergraduates were awarded grant or scholarship aid averaging $4,822 (across approximately 1956 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 43% | $4,822 |
| Federal Pell grants | 14% | $4,437 |
| Federal student loans | 12% | $5,915 |
On-campus students receiving title-IV aid were awarded grants averaging $5,674.
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 | $10,302 |
| $30,001 – $75,000 | $11,440 |
| Over $75,000 | $16,529 |
Each figure is the net price after grants and scholarships, not the published sticker price.
The net price strips out grant and scholarship aid from the sticker price to show roughly what families really pay.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $13,869 |
| Off-campus title-IV students | $12,829 |
To project your own net price, use Central Lakes College’s NPC: www.minnstate.edu/admissions/calculator/centrallakes.html.
Graduating students at Central Lakes College carry a median federal student debt of $8,439 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $8,439 |
| Median federal debt (graduates only) | $11,000 |
| Typical 10-year monthly payment (graduates) | $116.62/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
The median alone does not show how widely outcomes vary across the student body. These percentiles trace how cumulative federal debt is spread among borrowers at Central Lakes College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,450 |
| 25th percentile | $4,750 |
| 75th percentile | $15,000 |
| 90th percentile (highest-debt students) | $26,187 |
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 | $9,500 |
| Middle income | $8,250 |
| High income | $5,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $8,867 |
| Continuing-generation students | $6,522 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,500 |
| Independent students | $10,500 |
A handful of calculated indicators summarize the debt outlook at Central Lakes College.
The Stafford loan program is the largest source of federal direct loans to undergraduates. The aggregate figures below show how active the program is at Central Lakes College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 10631 |
| Total Stafford loan amount | $130,870,708 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 36 |
| Total GI Bill amount | $160,569 |
| Average GI Bill amount per recipient | $4,460 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 7 |
| Total DoD amount | $18,205 |
| Average DoD amount per recipient | $2,601 |
References
More about our data sources and methodologies.