by our College Data Analytics TeamThe majority of students are not billed 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 price tag of going to Ferrum College can appear overwhelming, but bear in mind that many students obtain some kind of financial aid.
Just what financing solutions does Ferrum College provide, and just what are you going to be eligible for? Keep scrolling for answers. Scroll down to discover just how much financial aid could be open to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. The information provided on this page can help you determine how much aid you may receive from Ferrum College.
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.
For freshmen starting at Ferrum College, 100% of the incoming full-time class was awarded financial aid (about 237 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 98% | $34,444 |
| Institutional grants & scholarships | 98% | $26,904 |
| Federal Pell grants | 59% | $6,341 |
| State/local grants | 65% | $5,000 |
| Federal student loans | 97% | $4,285 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At Ferrum College, some 97% of undergraduate students received gift aid averaging $42,918 (across approximately 736 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 97% | $42,918 |
| Federal Pell grants | 54% | $6,159 |
| Federal student loans | 85% | $5,526 |
On-campus students receiving title-IV aid were awarded grants averaging $34,444.
Because need-based aid scales with family income, what students actually pay differs sharply across income brackets.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $18,614 |
| $30,001 – $75,000 | $19,385 |
| Over $75,000 | $27,135 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
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 | $20,082 |
| Off-campus title-IV students | $22,085 |
For a customized cost estimate, visit Ferrum College’s net price calculator: www.ferrum.edu/financial-aid/net-price-calculator/.
Graduating students at Ferrum College carry a median federal student debt of $14,250 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $14,250 |
| Median federal debt (graduates only) | $27,000 |
| Typical 10-year monthly payment (graduates) | $286.24/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
A single median figure conceals how much debt outcomes differ student to student. These percentiles trace how cumulative federal debt is spread among borrowers at Ferrum College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,250 |
| 25th percentile | $5,500 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $41,500 |
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 | $14,250 |
| Middle income | $12,697 |
| High income | $15,125 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $14,342 |
| Continuing-generation students | $13,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $13,795 |
| Independent students | $21,000 |
A handful of calculated indicators summarize the debt outlook at Ferrum College.
Stafford loans are the federal government’s primary direct undergraduate lending program. The totals below capture Stafford lending at Ferrum College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 7751 |
| Total Stafford loan amount | $136,524,824 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 30 |
| Total GI Bill amount | $1,217,945 |
| Average GI Bill amount per recipient | $40,598 |
References
More about our data sources and methodologies.