by our College Data Analytics TeamA lot of students will not be asked to pay 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 sum total of attendance at Eastern Kentucky University can sound tremendous, but do not forget that almost all students get some type of financial help.
What financial aid options can Eastern offer, and what will you qualify for? Keep reading for more information. Scroll down to discover how much school funding could be available to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Read on to get a sense of the financial assistance available at Eastern Kentucky University.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
Looking at the entering class at Eastern Kentucky University, 99% of entering full-time freshmen got some type of financial assistance roughly 2564 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 98% | $11,468 |
| Institutional grants & scholarships | 83% | $5,773 |
| Federal Pell grants | 51% | $5,503 |
| State/local grants | 87% | $4,045 |
| Federal student loans | 45% | $4,838 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At Eastern, roughly 83% of undergraduates were awarded grant or scholarship aid averaging $9,804 (for some 10613 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 83% | $9,804 |
| Federal Pell grants | 41% | $5,423 |
| Federal student loans | 41% | $6,669 |
Title-IV recipients living on campus saw average grant aid of $12,695.
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 | $7,075 |
| $30,001 – $75,000 | $8,189 |
| Over $75,000 | $14,881 |
Each figure is the net price after grants and scholarships, not the published sticker price.
Net price is the cost remaining after grant and scholarship aid is subtracted from the sticker price, and it is the most useful single number for estimating real cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $11,040 |
| Off-campus title-IV students | $9,962 |
To project your own net price, use Eastern’s net price calculator: application.eku.edu/register/?id=0b702633-7e33-a464-d593-ceb4e75a8097.
The median federal debt load at Eastern comes to $14,929 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $14,929 |
| Median federal debt (graduates only) | $22,500 |
| Typical 10-year monthly payment (graduates) | $238.54/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
The numbers below show the full range, not just the middle of the distribution. Use the percentiles below to see the debt range at Eastern.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,266 |
| 25th percentile | $5,500 |
| 75th percentile | $26,250 |
| 90th percentile (highest-debt students) | $37,500 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $14,257 |
| Middle income | $15,000 |
| High income | $15,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $15,000 |
| Continuing-generation students | $14,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,023 |
| Independent students | $17,142 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. Eastern.
The Stafford loan program is the largest source of federal direct loans to undergraduates. Below is the annual Stafford program activity at Eastern:
| Metric | Value |
|---|---|
| Stafford loan recipients | 57289 |
| Total Stafford loan amount | $1,256,288,504 |
Veterans and active-duty service members may qualify for the Post-9/11 GI Bill or DoD Tuition Assistance.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 343 |
| Total GI Bill amount | $2,823,880 |
| Average GI Bill amount per recipient | $8,233 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 51 |
| Total DoD amount | $123,906 |
| Average DoD amount per recipient | $2,430 |
References
More about our data sources and methodologies.