by our College Data Analytics TeamA lot 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 sum total of attendance at Lake Superior College can sound overwhelming, but bear in mind that many students get some type of financial aid.
Just what financing solutions does LSC provide, and just what are you going to be eligible for? Keep scrolling for answers. Keep going to learn what amount of financial assistance will be accessible to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Use the information below to understand how much financial assistance you may get from Lake Superior College.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. However, some types of aid are more desirable than others, and some students will receive more than others.
For incoming first-year students at Lake Superior College, 76% of new full-time first-years were awarded at least some aid (about 260 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 49% | $5,552 |
| Institutional grants & scholarships | 2% | $1,761 |
| Federal Pell grants | 37% | $4,742 |
| State/local grants | 43% | $1,914 |
| Federal student loans | 35% | $5,022 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. At LSC, some 45% of undergraduates were awarded an average grant or scholarship of $4,332 (across approximately 1820 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 45% | $4,332 |
| Federal Pell grants | 19% | $4,083 |
| Federal student loans | 21% | $6,168 |
On-campus students receiving title-IV aid were awarded grants averaging $4,231.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $12,542 |
| $30,001 – $75,000 | $14,947 |
| Over $75,000 | $19,618 |
Each figure is the net price after grants and scholarships, not the published sticker price.
Net price is the cost remaining after grant and scholarship aid is subtracted from the sticker price, and it is the most useful single number for estimating real cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $15,492 |
| Off-campus title-IV students | $16,050 |
To project your own net price, use LSC’s net price calculator: www.minnstate.edu/admissions/calculator/lakesuperior.html.
A typical borrower at LSC leaves with $8,820 in federal loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $8,820 |
| Median federal debt (graduates only) | $12,775 |
| Typical 10-year monthly payment (graduates) | $135.44/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. The percentiles below describe the cumulative federal debt distribution for borrowers at LSC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,250 |
| 25th percentile | $4,073 |
| 75th percentile | $16,500 |
| 90th percentile (highest-debt students) | $26,069 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $10,112 |
| Middle income | $8,750 |
| High income | $6,800 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,000 |
| Continuing-generation students | $8,250 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,500 |
| Independent students | $11,762 |
A handful of calculated indicators summarize the debt outlook at LSC.
The Stafford program is the federal direct-loan vehicle most undergraduates use. The annual Stafford volume below reflects program activity at LSC:
| Metric | Value |
|---|---|
| Stafford loan recipients | 15508 |
| Total Stafford loan amount | $200,021,515 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 80 |
| Total GI Bill amount | $1,259,429 |
| Average GI Bill amount per recipient | $15,743 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 12 |
| Total DoD amount | $19,080 |
| Average DoD amount per recipient | $1,590 |
References
More about our data sources and methodologies.