by our College Data Analytics TeamMost college students will not be charged the full price tag of a school. Instead, they will be offered a financial aid package that includes a combination of loans, grants, scholarships and possibly work-study opportunities.
However, some types of financial aid are definitely more desireable than others, and some students will receive more aid than others.Find out more by scrolling down the page.
Hanover College average financial aid offer for freshmen students is $30,511.00. 99% of first-year students are awarded financial aid, primarily comprising grants and scholarships.
Financial aid helps lower the cost, or the full retail price of the institution. But bear in mind that the only true college discount is scholarships & grants.
Student debt really should be considered to be an added expense and not as “aid” or a “discount”. Find more about student loan debt at Hanover College.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The numbers below apply to scholarships and grants primarily provided by Hanover College.
99% of first-year students (287 total) were offered scholarships at Hanover College, averaging $26,129.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 35% of first-year students (102 total) got a federal grant, for about $5,391.00 per person.
Amount of Financial Assistance Per Income Level
The table shows scholarship and grant allocations by income for first-year students receiving any type of federal Title IV assistance, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 17.99% | $39,983.00 |
| Income 30k-48k | 7.27% | $37,393.00 |
| Income 48k-75k | 10.38% | $35,107.00 |
| Income 75k-110k | 12.46% | $28,493.00 |
| Income 110k + | 23.88% | $25,623.00 |
The table above displays undergrads who are obtaining Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
287 Hanover undergrads obtain grant aid (this is about 99% of the entire undergraduate student population). The average amount these students receive is $30,511.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.
