by our College Data Analytics TeamMany 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 price tag of going to LeTourneau University can appear tremendous, but do not forget that almost all students obtain some kind of financial help.
What financial aid options can LETU offer, and what will you qualify for? Keep reading for more information. Read on to find out what amount of financial assistance will be accessible to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. The figures below will help you estimate the aid you might receive from LeTourneau University.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
For freshmen starting at LeTourneau University, 99% of the incoming full-time class was awarded financial aid approximately 331 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 99% | $21,540 |
| Institutional grants & scholarships | 98% | $18,946 |
| Federal Pell grants | 24% | $5,580 |
| State/local grants | 31% | $3,997 |
| Federal student loans | 54% | $5,323 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At LETU, approximately 43% of undergraduates were awarded an average grant or scholarship of $20,470 (for some 1398 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 43% | $20,470 |
| Federal Pell grants | 13% | $5,464 |
| Federal student loans | 24% | $7,207 |
Title-IV recipients living on campus saw average grant aid of $22,939.
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 | $20,294 |
| $30,001 – $75,000 | $23,046 |
| Over $75,000 | $28,334 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
The net price represents the average annual cost a title-IV-receiving student pays after grant aid is subtracted from the full cost of attendance.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $28,185 |
| Off-campus title-IV students | $25,314 |
For a personalized estimate based on your family’s financial situation, use LETU’s net price tool: www.letu.edu/offices/administration-finance/financial-aid/cost-calculator.html#ContentBlock-1-1.
A typical borrower at LETU leaves with $19,000 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $19,000 |
| Median federal debt (graduates only) | $26,000 |
| Typical 10-year monthly payment (graduates) | $275.64/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
The median alone does not show how widely outcomes vary across the student body. The four reference points below map the debt distribution at LETU.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,000 |
| 25th percentile | $7,959 |
| 75th percentile | $31,000 |
| 90th percentile (highest-debt students) | $41,959 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $17,972 |
| Middle income | $20,834 |
| High income | $18,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $19,500 |
| Continuing-generation students | $17,500 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $15,625 |
| Independent students | $24,000 |
The figure below distills the debt data into a single burden category for LETU.
The Stafford program is the federal direct-loan vehicle most undergraduates use. The totals below capture Stafford lending at LETU:
| Metric | Value |
|---|---|
| Stafford loan recipients | 13546 |
| Total Stafford loan amount | $399,891,449 |
Veterans and active-duty service members may qualify for the Post-9/11 GI Bill or DoD Tuition Assistance.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 80 |
| Total GI Bill amount | $1,691,311 |
| Average GI Bill amount per recipient | $21,141 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 1 |
| Total DoD amount | $2,250 |
| Average DoD amount per recipient | $2,250 |
References
More about our data sources and methodologies.