by our College Data Analytics TeamA lot of students will never be charged the full, advertised sticker price of a school. Instead, they will be given a financial aid offer that will include a combination of scholarships, grants, loans, and work-study. The price tag of going to Eastern Illinois University can appear tremendous, but do not forget that almost all students obtain some kind of financial help.
Just what financial assistance solutions will EIU deliver, and just what are you going to be eligible for? Read on for answers. Read on to find out what amount of financial assistance will be accessible to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. The information provided on this page can help you determine how much aid you may receive from Eastern Illinois University.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
Looking at the entering class at Eastern Illinois University, 96% of new full-time first-years were awarded at least some aid approximately 781 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 95% | $12,960 |
| Institutional grants & scholarships | 91% | $5,204 |
| Federal Pell grants | 54% | $5,640 |
| State/local grants | 61% | $6,913 |
| Federal student loans | 53% | $6,537 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. At this school, around 55% of undergraduates were awarded an average grant or scholarship of $13,020 (for some 3782 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 55% | $13,020 |
| Federal Pell grants | 29% | $5,587 |
| Federal student loans | 31% | $7,358 |
Title-IV recipients living on campus saw average grant aid of $14,210.
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 | $10,763 |
| $30,001 – $75,000 | $11,058 |
| Over $75,000 | $20,644 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
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 | $12,786 |
| Off-campus title-IV students | $14,093 |
To get a personalized net price estimate, try EIU’s net price tool: www.eiu.edu/finaid/calculator.php.
Graduating students at EIU carry a median federal student debt of $15,722 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $15,722 |
| Median federal debt (graduates only) | $21,500 |
| Typical 10-year monthly payment (graduates) | $227.94/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
The numbers below show the full range, not just the middle of the distribution. The four reference points below map the debt distribution at EIU.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,612 |
| 25th percentile | $8,250 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $35,000 |
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 | $15,075 |
| Middle income | $15,091 |
| High income | $16,750 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $15,750 |
| Continuing-generation students | $15,419 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $15,000 |
| Independent students | $16,718 |
The figure below distills the debt data into a single burden category for EIU.
The Stafford program is the federal direct-loan vehicle most undergraduates use. The aggregate figures below show how active the program is at EIU:
| Metric | Value |
|---|---|
| Stafford loan recipients | 31055 |
| Total Stafford loan amount | $604,104,460 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 58 |
| Total GI Bill amount | $382,143 |
| Average GI Bill amount per recipient | $6,589 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 3 |
| Total DoD amount | $9,750 |
| Average DoD amount per recipient | $3,250 |
References
More about our data sources and methodologies.