by our College Data Analytics TeamMany students attending Covenant College can expect to receive financial assistance in various forms, such as scholarships, grants, loans, and work-study programs, making the cost of attendance more manageable.
Interested in understanding the financial aid resources available at Covenant and your eligibility? Find the answers you seek below.
Covenant College average financial aid offer for freshmen students is $23,304.00. About 100% of first year students receive financial aid, most of which is in the form of grants and scholarships.
Loans are included in the umbrella of ‘financial aid’, even so, the only true discount from the cost of college is a grant or scholarship that you don’t have to pay back.
Worried about the student loans that might be part of a financing offer? View the average amount of debt per student at Covenant College.
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 stats below refer to aid that is provided by Covenant College.
97% of new students (212 total) were offered scholarships at Covenant College, averaging $21,020.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 37% of first years (81 total) were awarded federal grant aid, averaging $4,746.00 each.
The next table displays grant and scholarship distributions by family income for freshman students getting any kind of federally-funded Title IV aid, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 8.22% | $29,594.00 |
| Income 30k-48k | 4.11% | $22,869.00 |
| Income 48k-75k | 10.50% | $27,587.00 |
| Income 75k-110k | 12.79% | $23,923.00 |
| Income 110k + | 21.92% | $20,523.00 |
The table above shows undergrads who are getting Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
217 Covenant undergrads obtain grant aid (this is about 100% of the entire undergraduate student population). The average amount these students receive is $23,304.00.
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.