by our College Data Analytics TeamMost students are not billed 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 sum total of attendance at Lake Erie College can sound overwhelming, but bear in mind that many students get some type of financial aid.
Just what financing solutions does LEC deliver, and just what are you going to be eligible for? Keep scrolling for answers. Keep going to discover just how much financial aid could be open to you.
Your financial aid package, which may contain grants and scholarships, will be determined on your financial need. Read on to get a sense of the financial assistance available at Lake Erie College.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
At Lake Erie College, 100% of first-time, full-time freshmen received some form of financial aid approximately 187 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $27,879 |
| Institutional grants & scholarships | 100% | $24,034 |
| Federal Pell grants | 43% | $5,206 |
| State/local grants | 27% | $5,413 |
| Federal student loans | 60% | $5,070 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. Across the undergraduate body at LEC, some 83% of undergrads got grants or scholarships worth on average $26,300 (across roughly 619 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 83% | $26,300 |
| Federal Pell grants | 37% | $5,507 |
| Federal student loans | 55% | $5,976 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $29,829.
Because need-based aid scales with family income, what students actually pay differs sharply across income brackets.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $18,477 |
| $30,001 – $75,000 | $19,256 |
| Over $75,000 | $24,288 |
Remember these are net prices — what families pay after gift aid, not before.
After grants and scholarships come off the published price, what remains is the net price — the best estimate of true out-of-pocket cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $20,961 |
| Off-campus title-IV students | $21,296 |
For a personalized estimate based on your family’s financial situation, use LEC’s net price calculator: www.lec.edu/financial-aid/net-price-calculator/.
Graduating students at LEC carry a median federal student debt of $13,875 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $13,875 |
| Median federal debt (graduates only) | $26,000 |
| Typical 10-year monthly payment (graduates) | $275.64/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
The median alone does not show how widely outcomes vary across the student body. These percentiles trace how cumulative federal debt is spread among borrowers at LEC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,750 |
| 25th percentile | $7,500 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $36,500 |
Debt outcomes are not uniform — they shift with income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $12,500 |
| Middle income | $15,000 |
| High income | $14,125 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $13,729 |
| Continuing-generation students | $14,250 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $13,741 |
| Independent students | $14,417 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. LEC.
The Stafford loan program is the largest source of federal direct loans to undergraduates. These figures summarize annual Stafford program activity at LEC:
| Metric | Value |
|---|---|
| Stafford loan recipients | 4576 |
| Total Stafford loan amount | $92,349,644 |
Veterans and active-duty service members may qualify for the Post-9/11 GI Bill or DoD Tuition Assistance.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 5 |
| Total GI Bill amount | $113,371 |
| Average GI Bill amount per recipient | $22,674 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 0 |
| Total DoD amount | $0 |
References
More about our data sources and methodologies.