by our College Data Analytics TeamA large number of students are not billed 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 Elite Welding Academy can sound overpowering, but remember that the majority of students get some type of financial assistance.
What financial assistance options will Elite Welding Academy offer you, and what will you qualify for? Read on for more information. Read on to find out how much school funding will be available 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 Elite Welding Academy.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. However, some types of aid are more desirable than others, and some students will receive more than others.
Looking at the entering class at Elite Welding Academy, 93% of entering full-time freshmen got some type of financial assistance approximately 13 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 86% | $6,728 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 86% | $6,728 |
| State/local grants | 0% | — |
| Federal student loans | 86% | $7,500 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. Across the undergraduate body at Elite Welding Academy, around 57% of undergraduates were awarded an average grant or scholarship of $7,542 (across roughly 32 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 57% | $7,542 |
| Federal Pell grants | 50% | $6,005 |
| Federal student loans | 38% | $7,593 |
For students living on campus and receiving title-IV aid, grants averaged $6,728.
Since aid is largely need-based, the real cost of attendance falls steeply for lower-income families.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $20,440 |
| $30,001 – $75,000 | $28,956 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
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 | $28,617 |
| Off-campus title-IV students | $21,504 |
For a customized cost estimate, visit Elite Welding Academy’s NPC: www.eliteweldingacademy.com/calculator/.
The median federal debt load at Elite Welding Academy comes to $5,500 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $5,500 |
| Median federal debt (graduates only) | $9,483 |
| Typical 10-year monthly payment (graduates) | $100.54/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
The numbers below show the full range, not just the middle of the distribution. The figures below chart the debt distribution at Elite Welding Academy.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,194 |
| 25th percentile | $5,500 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $9,500 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $9,483 |
| Middle income | $9,042 |
| High income | $5,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $5,500 |
| Continuing-generation students | $5,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $9,500 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. Elite Welding Academy.
Stafford loans make up the bulk of federal direct lending to undergraduates. These figures summarize annual Stafford program activity at Elite Welding Academy:
| Metric | Value |
|---|---|
| Stafford loan recipients | 492 |
| Total Stafford loan amount | $3,391,925 |
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 | 9 |
| Total GI Bill amount | $161,718 |
| Average GI Bill amount per recipient | $17,969 |
References
More about our data sources and methodologies.