by our College Data Analytics TeamA large number of students are not billed 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 Indiana State University can appear overpowering, but remember that the majority of students obtain some kind of financial assistance.
What financial assistance options will Indiana State offer, and what will you qualify for? Read on for more information. Read on to see what amount of financial assistance could be accessible to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. Continue reading to find information to help you understand just how much assistance you can expect to receive from Indiana State University.
Financial aid, in the form of loans, grants, work-study, and scholarships, is one way colleges reduce the cost of attendance so most students can actually afford to attend. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
For freshmen starting at Indiana State University, 98% of first-time, full-time freshmen received some form of financial aid approximately 1527 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 97% | $12,383 |
| Institutional grants & scholarships | 93% | $5,960 |
| Federal Pell grants | 51% | $5,650 |
| State/local grants | 46% | $7,558 |
| Federal student loans | 52% | $4,843 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. Here, roughly 76% of undergraduates were awarded an average grant or scholarship of $10,730 (covering around 5056 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 76% | $10,730 |
| Federal Pell grants | 42% | $5,390 |
| Federal student loans | 26% | $11,843 |
On-campus students receiving title-IV aid were awarded grants averaging $13,662.
The figures below show the average net price — cost after all grant and scholarship aid — broken out by family income.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $8,144 |
| $30,001 – $75,000 | $10,031 |
| Over $75,000 | $18,777 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
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 | $10,873 |
| Off-campus title-IV students | $12,188 |
For a customized cost estimate, visit Indiana State’s online cost calculator: indianastate.edu/costs-aid/net-price-calculator.
The median federal debt load at Indiana State comes to $14,574 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $14,574 |
| Median federal debt (graduates only) | $24,000 |
| Typical 10-year monthly payment (graduates) | $254.44/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. Use the percentiles below to see the debt range at Indiana State.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $5,500 |
| 75th percentile | $24,814 |
| 90th percentile (highest-debt students) | $32,604 |
Median debt varies by family income, by first-generation status, and by dependency status.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $13,000 |
| Middle income | $14,250 |
| High income | $16,066 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $14,300 |
| Continuing-generation students | $15,000 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,000 |
| Independent students | $15,961 |
A handful of calculated indicators summarize the debt outlook at Indiana State.
Stafford loans make up the bulk of federal direct lending to undergraduates. The aggregate figures below show how active the program is at Indiana State:
| Metric | Value |
|---|---|
| Stafford loan recipients | 45471 |
| Total Stafford loan amount | $924,112,103 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 173 |
| Total GI Bill amount | $1,294,893 |
| Average GI Bill amount per recipient | $7,485 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 90 |
| Total DoD amount | $239,046 |
| Average DoD amount per recipient | $2,656 |
References
More about our data sources and methodologies.