by our College Data Analytics TeamMany students will never be charged the complete price tag of a school. Rather, they are presented a financial aid deal that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The sum total of attendance at Colorado School of Mines can sound overwhelming, but bear in mind that many students get some type of financial aid.
Just what financial aid solutions can Mines deliver, and just what are you going to be eligible for? Keep reading for answers. Keep scrolling to see what amount of financial assistance could 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 Colorado School of Mines.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. However, some types of aid are more desirable than others, and some students will receive more than others.
Looking at the entering class at Colorado School of Mines, 98% of first-year full-time students received aid of some kind approximately 1420 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 96% | $12,246 |
| Institutional grants & scholarships | 96% | $10,673 |
| Federal Pell grants | 15% | $5,740 |
| State/local grants | 13% | $4,760 |
| Federal student loans | 35% | $5,167 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. At Mines, some 88% of undergraduate students received gift aid averaging $11,139 (for some 5133 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 88% | $11,139 |
| Federal Pell grants | 14% | $5,653 |
| Federal student loans | 32% | $6,387 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $11,870.
Because need-based aid scales with family income, what students actually pay differs sharply across income brackets.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $19,394 |
| $30,001 – $75,000 | $23,377 |
| Over $75,000 | $33,272 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
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 | $28,690 |
| Off-campus title-IV students | $29,240 |
For an estimate tailored to your family circumstances, see Mines’s online cost calculator: ir.mines.edu/net-price-calculator/.
Graduating students at Mines carry a median federal student debt of $17,500 in federal loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $17,500 |
| Median federal debt (graduates only) | $23,000 |
| Typical 10-year monthly payment (graduates) | $243.84/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
Looking only at the median can be misleading because it hides the spread. Use the percentiles below to see the debt range at Mines.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $10,250 |
| 75th percentile | $28,000 |
| 90th percentile (highest-debt students) | $35,500 |
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 | $18,441 |
| Middle income | $17,500 |
| High income | $17,143 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $18,500 |
| Continuing-generation students | $16,600 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $16,751 |
| Independent students | $23,011 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. Mines.
The Stafford program is the federal direct-loan vehicle most undergraduates use. These figures summarize annual Stafford program activity at Mines:
| Metric | Value |
|---|---|
| Stafford loan recipients | 8866 |
| Total Stafford loan amount | $168,051,868 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 179 |
| Total GI Bill amount | $2,705,305 |
| Average GI Bill amount per recipient | $15,113 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 3 |
| Total DoD amount | $6,750 |
| Average DoD amount per recipient | $2,250 |
References
More about our data sources and methodologies.