by our College Data Analytics TeamMost students will not be asked to pay 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 total cost of going to Elim Bible Institute and College can seem overwhelming, but bear in mind that many students are given some form of financial aid.
What financing options does Elim offer you, and what will you qualify for? Keep scrolling for more information. Scroll down to discover just how much financial aid could be open to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. The figures below will help you estimate the aid you might receive from Elim Bible Institute and College.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
Looking at the entering class at Elim Bible Institute and College, 93% of the incoming full-time class was awarded financial aid some 13 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 93% | $9,573 |
| Institutional grants & scholarships | 93% | $5,180 |
| Federal Pell grants | 43% | $6,358 |
| State/local grants | 43% | $2,992 |
| Federal student loans | 29% | $4,687 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. Here, approximately 79% of undergrads got grants or scholarships worth on average $9,828 (for some 77 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 79% | $9,828 |
| Federal Pell grants | 43% | $5,893 |
| Federal student loans | 32% | $5,136 |
On-campus students receiving title-IV aid were awarded grants averaging $10,790.
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 | $5,965 |
| $30,001 – $75,000 | $6,982 |
| Over $75,000 | $16,056 |
Each figure is the net price after grants and scholarships, not the published sticker price.
After grants and scholarships come off the published price, what remains is the net price — the best estimate of true out-of-pocket cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $8,840 |
| Off-campus title-IV students | $9,641 |
To project your own net price, use Elim’s official net price calculator: elim.edu/NetPriceCaclulator/2022-2023.html.
A typical borrower at Elim leaves with $9,241 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $9,241 |
| Median federal debt (graduates only) | $10,247 |
| Typical 10-year monthly payment (graduates) | $108.64/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Middle income | $5,531 |
These indicators are derived from the underlying debt data and summarize the overall picture at Elim.
The Stafford program is the federal direct-loan vehicle most undergraduates use. The annual Stafford volume below reflects program activity at Elim:
| Metric | Value |
|---|---|
| Stafford loan recipients | 143 |
| Total Stafford loan amount | $1,081,331 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 0 |
| Total GI Bill amount | $0 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 0 |
| Total DoD amount | $0 |
References
More about our data sources and methodologies.