by our College Data Analytics TeamThe total cost of attendance at Lake Superior State University can seem overwhelming, but remember that the majority of students receive some sort of financial assistance. This could be in the form of scholarships, grants, work-study, or loans.
Uncover the various financial aid options provided by Lake Superior State University and determine which ones you may be eligible for by continuing your exploration.
Lake Superior State University average financial aid offer for freshmen students is $9,807.00. Approximately 97% of incoming freshmen obtain financial assistance, with the majority being offered as grants and scholarships.
Financial aid helps reduce the cost, or the full retail price of the college. However, be aware that the only true college discount is scholarships & grants.
Worried about the student loans that might be part of a financing offer? View the average amount of debt per student at Lake Superior State University.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The stats below refer to aid that is provided by Lake Superior State University.
84% of first-year students (266 total) were offered scholarships at Lake Superior State University, averaging $5,304.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 61% of first-year students (193 total) got a federal grant, for about $3,653.00 per person.
The next table displays grant and scholarship distributions by family income for freshman students getting any kind of federally-funded Title IV aid, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 18.41% | $16,080.00 |
| Income 30k-48k | 11.11% | $13,272.00 |
| Income 48k-75k | 14.92% | $8,389.00 |
| Income 75k-110k | 12.06% | $5,819.00 |
| Income 110k + | 13.97% | $4,239.00 |
The table above displays students who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Get more info on Title IV here.
Of the 315 undergraduate students at Lake Superior State University around 97% (299 total) receive some form of grant aid. The typical amount awarded was $9,807.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.
