by our College Data Analytics TeamA lot of 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 Lawrence Memorial Hospital School of Nursing can sound overwhelming, but bear in mind that many students get some type of financial aid.
What financing options does Lawrence Memorial offer, and what will you qualify for? Keep scrolling for more information. Read on to discover how much school funding could be available to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. The figures below will help you estimate the aid you might receive from Lawrence Memorial Hospital School of Nursing.
Financial aid, in the form of loans, grants, work-study, and scholarships, is one way colleges reduce the cost of attendance so most students can actually afford to attend. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. Across the undergraduate body at Lawrence Memorial, some 42% of undergraduates were awarded an average grant or scholarship of $6,826 (covering around 82 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 42% | $6,826 |
| Federal Pell grants | 38% | $4,156 |
| Federal student loans | 77% | $9,739 |
The median student at Lawrence Memorial graduates with $20,000 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $20,000 |
| Median federal debt (graduates only) | $20,000 |
| Typical 10-year monthly payment (graduates) | $212.03/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
A single median figure conceals how much debt outcomes differ student to student. The four reference points below map the debt distribution at Lawrence Memorial.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $10,725 |
| 75th percentile | $20,000 |
| 90th percentile (highest-debt students) | $24,725 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $20,000 |
| Middle income | $20,000 |
| High income | $19,756 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $20,000 |
| Continuing-generation students | $20,000 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,588 |
| Independent students | $20,000 |
The figure below distills the debt data into a single burden category for Lawrence Memorial.
Stafford loans make up the bulk of federal direct lending to undergraduates. These figures summarize annual Stafford program activity at Lawrence Memorial:
| Metric | Value |
|---|---|
| Stafford loan recipients | 1825 |
| Total Stafford loan amount | $31,180,394 |
References
More about our data sources and methodologies.