by our College Data Analytics TeamThe majority of 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 price tag of going to Gnomon can appear tremendous, but do not forget that almost all students obtain some kind of financial help.
Just what financial assistance solutions will Gnomon provide, and just what are you going to be eligible for? Read on for answers. Keep going to see how much school funding could be available 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 Gnomon.
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.
For incoming first-year students at Gnomon, 45% of the incoming full-time class was awarded financial aid around 9 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 30% | $4,331 |
| Institutional grants & scholarships | 15% | $2,500 |
| Federal Pell grants | 15% | $3,678 |
| State/local grants | 10% | $2,824 |
| Federal student loans | 25% | $5,100 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. Across the undergraduate body at Gnomon, about 29% of undergraduate students received gift aid averaging $3,876 (across roughly 161 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 29% | $3,876 |
| Federal Pell grants | 11% | $7,152 |
| Federal student loans | 18% | $9,885 |
On-campus students receiving title-IV aid were awarded grants averaging $2,998.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $40,515 |
| $30,001 – $75,000 | $40,515 |
| Over $75,000 | $47,593 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
The net price strips out grant and scholarship aid from the sticker price to show roughly what families really pay.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $51,949 |
| Off-campus title-IV students | $45,824 |
For a personalized estimate based on your family’s financial situation, use Gnomon’s NPC: www.gnomon.edu/admissions/net-price-calculator.
A typical borrower at Gnomon leaves with $28,332 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $28,332 |
| Median federal debt (graduates only) | $28,332 |
| Typical 10-year monthly payment (graduates) | $300.37/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
The numbers below show the full range, not just the middle of the distribution. The percentiles below describe the cumulative federal debt distribution for borrowers at Gnomon.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $7,667 |
| 25th percentile | $13,667 |
| 75th percentile | $28,332 |
| 90th percentile (highest-debt students) | $44,041 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $28,332 |
| Middle income | $28,144 |
| High income | $27,000 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $28,332 |
| Continuing-generation students | $28,332 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $27,000 |
| Independent students | $28,332 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. Gnomon.
Most undergraduate borrowing runs through the federal Stafford loan program. The aggregate figures below show how active the program is at Gnomon:
| Metric | Value |
|---|---|
| Stafford loan recipients | 529 |
| Total Stafford loan amount | $11,773,626 |
References
More about our data sources and methodologies.