by our College Data Analytics TeamThe majority of students will not be asked to pay 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 total cost of going to Illinois College can seem tremendous, but do not forget that almost all students are given some form of financial help.
What financial assistance options will Illinois College offer, and what will you qualify for? Read on for more information. Keep reading to discover how much school funding could be available 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 Illinois College.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
Among first-time, full-time freshmen at Illinois College, 100% of entering full-time freshmen got some type of financial assistance approximately 252 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $31,609 |
| Institutional grants & scholarships | 99% | $25,770 |
| Federal Pell grants | 44% | $5,254 |
| State/local grants | 43% | $8,326 |
| Federal student loans | 89% | $5,557 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. At this school, roughly 95% of undergraduates were awarded an average grant or scholarship of $30,179 (covering around 904 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 95% | $30,179 |
| Federal Pell grants | 38% | $5,408 |
| Federal student loans | 83% | $6,589 |
On-campus students receiving title-IV aid were awarded grants averaging $30,657.
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 | $11,451 |
| $30,001 – $75,000 | $12,701 |
| Over $75,000 | $21,536 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
The net price represents the average annual cost a title-IV-receiving student pays after grant aid is subtracted from the full cost of attendance.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $18,298 |
| Off-campus title-IV students | $17,945 |
To get a personalized net price estimate, try Illinois College’s online cost calculator: www.ic.edu/npc.
The median student at Illinois College graduates with $14,746 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $14,746 |
| Median federal debt (graduates only) | $25,565 |
| Typical 10-year monthly payment (graduates) | $271.03/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
The numbers below show the full range, not just the middle of the distribution. These percentiles trace how cumulative federal debt is spread among borrowers at Illinois College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,068 |
| 25th percentile | $9,022 |
| 75th percentile | $28,950 |
| 90th percentile (highest-debt students) | $33,300 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $12,500 |
| Middle income | $14,000 |
| High income | $18,838 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $12,490 |
| Continuing-generation students | $19,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $16,000 |
| Independent students | $9,500 |
The figure below distills the debt data into a single burden category for Illinois College.
Most undergraduate borrowing runs through the federal Stafford loan program. The aggregate figures below show how active the program is at Illinois College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 4323 |
| Total Stafford loan amount | $65,287,005 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 5 |
| Total GI Bill amount | $92,308 |
| Average GI Bill amount per recipient | $18,462 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 0 |
| Total DoD amount | $0 |
References
More about our data sources and methodologies.