by our College Data Analytics TeamThe majority 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 price tag of going to Institute of Medical Careers can appear tremendous, but do not forget that almost all students obtain some kind of financial help.
Just what financing solutions does Institute of Medical Careers provide, and just what are you going to be eligible for? Keep scrolling for answers. Read on to see what amount of financial assistance could be accessible to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Continue reading to find information to help you understand just how much assistance you can expect to receive from Institute of Medical Careers.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. However, some types of aid are more desirable than others, and some students will receive more than others.
At Institute of Medical Careers, 81% of first-year full-time students received aid of some kind approximately 231 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 78% | $5,347 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 78% | $5,026 |
| State/local grants | 5% | $4,191 |
| Federal student loans | 80% | $6,655 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At this school, approximately 87% of undergraduates were awarded grant or scholarship aid averaging $5,760 (covering around 1051 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 87% | $5,760 |
| Federal Pell grants | 87% | $5,427 |
| Federal student loans | 92% | $7,017 |
On-campus students receiving title-IV aid were awarded grants averaging $5,183.
Since aid is largely need-based, the real cost of attendance falls steeply for lower-income families.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $20,376 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
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 | $21,392 |
| Off-campus title-IV students | $20,376 |
To get a personalized net price estimate, try Institute of Medical Careers’s NPC: imbc.edu/docs/netpricecalc/npcalc.htm.
The middle student in the debt distribution at Institute of Medical Careers owes $12,488 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $12,488 |
| Median federal debt (graduates only) | $12,925 |
| Typical 10-year monthly payment (graduates) | $137.03/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. The four reference points below map the debt distribution at Institute of Medical Careers.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,718 |
| 25th percentile | $6,756 |
| 75th percentile | $15,917 |
| 90th percentile (highest-debt students) | $19,161 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $12,533 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $12,497 |
| Continuing-generation students | $12,241 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $12,119 |
| Independent students | $12,523 |
These indicators are derived from the underlying debt data and summarize the overall picture at Institute of Medical Careers.
The Stafford program is the federal direct-loan vehicle most undergraduates use. These figures summarize annual Stafford program activity at Institute of Medical Careers:
| Metric | Value |
|---|---|
| Stafford loan recipients | 1982 |
| Total Stafford loan amount | $26,269,083 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 7 |
| Total GI Bill amount | $89,875 |
| Average GI Bill amount per recipient | $12,839 |
References
More about our data sources and methodologies.