by our College Data Analytics TeamA large number of students are not billed the advertised price of a school. Instead, they will be provided a financial aid package that will include a combination of scholarships, grants, loans, and work-study. The total cost of going to Maine College of Health Professions can seem overwhelming, but bear in mind that many students are given some form of financial aid.
Just what financial assistance solutions will MCHP provide, and just what are you going to be eligible for? Read on for answers. Scroll down to learn what amount of financial assistance will be accessible to you.
How much aid you qualify for depends largely on your family’s financial circumstances. The figures below will help you estimate the aid you might receive from Maine College of Health Professions.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Bear in mind that not all aid is equal, and the amount any one student receives can vary widely.
For incoming first-year students at Maine College of Health Professions, 100% of first-time, full-time freshmen received some form of financial aid (about 3 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 33% | $1,545 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 33% | $1,545 |
| State/local grants | 0% | — |
| Federal student loans | 67% | $5,442 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. At MCHP, some 61% of undergrads got grants or scholarships worth on average $5,219 (covering around 139 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 61% | $5,219 |
| Federal Pell grants | 52% | $4,399 |
| Federal student loans | 90% | $7,100 |
For students living on campus and receiving title-IV aid, grants averaged $515.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $20,438 |
Remember these are net prices — what families pay after gift aid, not before.
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 | $26,312 |
| Off-campus title-IV students | $20,438 |
To get a personalized net price estimate, try MCHP’s online cost calculator: www.mchp.edu/net-price-calculator.
The median federal debt load at MCHP comes to $12,000 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $12,000 |
| Median federal debt (graduates only) | $15,250 |
| Typical 10-year monthly payment (graduates) | $161.68/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
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 MCHP.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,750 |
| 25th percentile | $8,000 |
| 75th percentile | $20,000 |
| 90th percentile (highest-debt students) | $23,500 |
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 | $12,125 |
| Middle income | $12,418 |
| High income | $11,200 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $12,000 |
| Continuing-generation students | $11,500 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $11,252 |
| Independent students | $14,250 |
These indicators are derived from the underlying debt data and summarize the overall picture at MCHP.
Most undergraduate borrowing runs through the federal Stafford loan program. Below is the annual Stafford program activity at MCHP:
| Metric | Value |
|---|---|
| Stafford loan recipients | 1194 |
| Total Stafford loan amount | $15,446,694 |
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.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 2 |
| Total GI Bill amount | $34,202 |
| Average GI Bill amount per recipient | $17,101 |
DoD Tuition Assistance activity
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 1 |
| Total DoD amount | $4,500 |
| Average DoD amount per recipient | $4,500 |
References
More about our data sources and methodologies.