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.
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 Central Michigan.
$9,297.00 is the typical Central Michigan University’s first year financial aid package. A significant 97% of freshmen benefit from financial aid, with the main type being grants and scholarships.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
A college loan is not a true college discount, but rather an outcome to consider. Find out how much student loan debt from Central Michigan University you may end up taking on.
Financial awards given by a college or university to its students, known as institutional scholarships and grants, help to offset the cost of tuition and other education-related expenses. These awards fall into two categories: merit-based and need-based, and they do not need to be paid back. Merit-based institutional scholarships are granted to students who have shown outstanding academic accomplishments, special talents, or abilities in a particular field. Factors such as high school performance, standardized test results, or involvement in extracurricular activities often contribute to these scholarship decisions. Conversely, need-based institutional grants cater to students who demonstrate financial need. The awarded amount is typically based on the student’s family’s financial standing and is intended to cover the difference between the cost of attendance and the family’s ability to contribute. Colleges and universities might use data from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms to determine a student’s eligibility for need-based grants. Institutional scholarships and grants are a vital source of financial support for students, as they can significantly reduce the cost of attending college and help make higher education more accessible.
The following numbers apply to scholarships and grants largely offered by the school itself.
88% of incoming freshmen (2157 total) were given scholarships at Central Michigan University, averaging $8,287.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 73% of freshmen (1786 total) received a federal grant, for about $2,955.00 a person.
The table below demonstrates scholarship and grant allocations by income level for freshmen receiving any type of federal Title IV assistance, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 12.61% | $14,273.00 |
| Income 30k-48k | 9.27% | $12,732.00 |
| Income 48k-75k | 10.33% | $9,358.00 |
| Income 75k-110k | 12.24% | $6,943.00 |
| Income 110k + | 28.12% | $6,353.00 |
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.
97% of the 2450 undergraduates at Central Michigan University receive some sort of grant aid. This is a total of about 2286 students getting an average of $9,297.00 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.
