by our College Data Analytics TeamMany students are not billed the full, advertised sticker price of a school. Instead, they will be given a financial aid offer that will include a combination of scholarships, grants, loans, and work-study. The sum total of attendance at Life University can sound overpowering, but remember that the majority of students get some type of financial assistance.
Just what financing solutions does Life provide, and just what are you going to be eligible for? Keep scrolling for answers. Scroll down to find out how much school funding will be available to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Continue reading to find information to help you understand just how much assistance you can expect to receive from Life University.
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.
Looking at the entering class at Life University, 93% of first-time, full-time freshmen received some form of financial aid around 186 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 89% | $11,292 |
| Institutional grants & scholarships | 72% | $8,319 |
| Federal Pell grants | 48% | $5,558 |
| State/local grants | 33% | $3,445 |
| Federal student loans | 56% | $5,872 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. Across the undergraduate body at Life, some 81% of undergraduates were awarded an average grant or scholarship of $12,141 (covering around 709 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 81% | $12,141 |
| Federal Pell grants | 40% | $6,015 |
| Federal student loans | 52% | $9,093 |
Title-IV recipients living on campus saw average grant aid of $11,504.
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 | $29,312 |
| $30,001 – $75,000 | $30,850 |
| Over $75,000 | $31,059 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
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 | $29,791 |
| Off-campus title-IV students | $30,257 |
For a personalized estimate based on your family’s financial situation, use Life’s net price tool: www.life.edu/admissions-pages/cost-of-attendance/.
A typical borrower at Life leaves with $9,500 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $9,500 |
| Median federal debt (graduates only) | $16,666 |
| Typical 10-year monthly payment (graduates) | $176.69/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
The numbers below show the full range, not just the middle of the distribution. Use the percentiles below to see the debt range at Life.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,333 |
| 25th percentile | $4,043 |
| 75th percentile | $19,862 |
| 90th percentile (highest-debt students) | $37,334 |
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 | $9,500 |
| Middle income | $9,167 |
| High income | $7,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,500 |
| Continuing-generation students | $9,167 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $8,333 |
| Independent students | $9,721 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. Life.
Most undergraduate borrowing runs through the federal Stafford loan program. The annual Stafford volume below reflects program activity at Life:
| Metric | Value |
|---|---|
| Stafford loan recipients | 16333 |
| Total Stafford loan amount | $1,877,330,038 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 67 |
| Total GI Bill amount | $1,106,590 |
| Average GI Bill amount per recipient | $16,516 |
References
More about our data sources and methodologies.