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 total price of attendance at Welch College can feel overpowering, but remember that the majority of students receive some sort of financial assistance.
Just what financial assistance solutions will Welch provide, 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.
How much aid you qualify for depends largely on your family’s financial circumstances. Use the information below to understand how much financial assistance you may get from Welch College.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. However, some types of aid are more desirable than others, and some students will receive more than others.
For incoming first-year students at Welch College, 100% of new full-time first-years were awarded at least some aid (about 69 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $15,462 |
| Institutional grants & scholarships | 94% | $11,045 |
| Federal Pell grants | 46% | $5,175 |
| State/local grants | 42% | $6,089 |
| Federal student loans | 87% | $5,346 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. Across the undergraduate body at Welch, around 93% of undergraduates were awarded an average grant or scholarship of $9,516 (covering around 334 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 93% | $9,516 |
| Federal Pell grants | 28% | $4,816 |
| Federal student loans | 53% | $6,388 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $11,809.
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 | $16,021 |
| $30,001 – $75,000 | $15,986 |
| Over $75,000 | $24,932 |
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 | $25,263 |
| Off-campus title-IV students | $19,983 |
To get a personalized net price estimate, try Welch’s online cost calculator: www.welch.edu/net-price-calculator/.
Graduating students at Welch carry a median federal student debt of $11,375 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $11,375 |
| Median federal debt (graduates only) | $19,500 |
| Typical 10-year monthly payment (graduates) | $206.73/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
Looking only at the median can be misleading because it hides the spread. The four reference points below map the debt distribution at Welch.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,000 |
| 25th percentile | $5,500 |
| 75th percentile | $26,000 |
| 90th percentile (highest-debt students) | $36,156 |
Median debt varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $10,000 |
| Middle income | $11,818 |
| High income | $11,599 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $11,697 |
| Continuing-generation students | $11,250 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $12,000 |
| Independent students | $9,500 |
The figure below distills the debt data into a single burden category for Welch.
Most undergraduate borrowing runs through the federal Stafford loan program. The aggregate figures below show how active the program is at Welch:
| Metric | Value |
|---|---|
| Stafford loan recipients | 1118 |
| Total Stafford loan amount | $19,022,715 |
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 | 2 |
| Total GI Bill amount | $5,665 |
| Average GI Bill amount per recipient | $2,833 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 0 |
| Total DoD amount | $0 |
References
More about our data sources and methodologies.