by our College Data Analytics TeamMany 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 Jersey College can appear overpowering, but remember that the majority of students obtain some kind of financial assistance.
Just what financial aid solutions can Jersey College deliver, and just what are you going to be eligible for? Keep reading for answers. Keep scrolling to learn how much school funding will 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. Read on to get a sense of the financial assistance available at Jersey College.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
At Jersey College, 86% of the incoming full-time class was awarded financial aid approximately 500 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 73% | $4,928 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 73% | $4,840 |
| State/local grants | 4% | $1,561 |
| Federal student loans | 83% | $6,298 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. At this school, approximately 59% of undergrads got grants or scholarships worth on average $4,836 (covering around 3551 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 59% | $4,836 |
| Federal Pell grants | 58% | $4,655 |
| Federal student loans | 77% | $7,608 |
Title-IV recipients living on campus saw average grant aid of $3,903.
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 | $28,146 |
| $30,001 – $75,000 | $28,093 |
| Over $75,000 | $30,839 |
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 | $52,558 |
| Off-campus title-IV students | $48,784 |
To project your own net price, use Jersey College’s net price tool: www.jerseycollege.edu/financial-aid/net-price-calculator.
The median student at Jersey College graduates with $16,010 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $16,010 |
| Median federal debt (graduates only) | $21,000 |
| Typical 10-year monthly payment (graduates) | $222.63/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
Looking only at the median can be misleading because it hides the spread. The four reference points below map the debt distribution at Jersey College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,167 |
| 25th percentile | $6,334 |
| 75th percentile | $21,000 |
| 90th percentile (highest-debt students) | $26,250 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $16,010 |
| Middle income | $16,010 |
| High income | $17,430 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $16,010 |
| Continuing-generation students | $16,430 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $9,755 |
| Independent students | $16,010 |
A handful of calculated indicators summarize the debt outlook at Jersey College.
Most undergraduate borrowing runs through the federal Stafford loan program. The aggregate figures below show how active the program is at Jersey College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 16671 |
| Total Stafford loan amount | $275,695,474 |
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 | 95 |
| Total GI Bill amount | $1,255,791 |
| Average GI Bill amount per recipient | $13,219 |
References
More about our data sources and methodologies.