by our College Data Analytics TeamThe majority of students will never be charged the full sticker price of a school. Rather, they are offered a financial aid plan that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The price tag of going to Lincoln Memorial University can appear overpowering, but remember that the majority of students obtain some kind of financial assistance.
What financial assistance options will LMU offer, and what will you qualify for? Read on for more information. Read on to find out how much school funding will be available to you.
Your financial aid package, which may contain grants and scholarships, will be determined on your financial need. Continue reading to find information to help you understand just how much assistance you can expect to receive from Lincoln Memorial University.
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. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
Among first-time, full-time freshmen at Lincoln Memorial University, 100% of the incoming full-time class was awarded financial aid some 328 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $20,081 |
| Institutional grants & scholarships | 66% | $21,298 |
| Federal Pell grants | 45% | $6,127 |
| State/local grants | 41% | $7,444 |
| Federal student loans | 39% | $5,167 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. Here, approximately 93% of undergraduate students received gift aid averaging $19,977 (across roughly 1485 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 93% | $19,977 |
| Federal Pell grants | 37% | $5,447 |
| Federal student loans | 50% | $8,468 |
For students living on campus and receiving title-IV aid, grants averaged $21,124.
Since aid is largely need-based, the real cost of attendance falls steeply for lower-income families.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $14,115 |
| $30,001 – $75,000 | $17,294 |
| Over $75,000 | $23,771 |
Remember these are net prices — what families pay after gift aid, not before.
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 | $20,406 |
| Off-campus title-IV students | $17,999 |
For a personalized estimate based on your family’s financial situation, use LMU’s online cost calculator: lmunet.clearcostcalculator.com/student/default/netpricecalculator/survey.
Graduating students at LMU carry a median federal student debt of $15,337 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $15,337 |
| Median federal debt (graduates only) | $20,000 |
| Typical 10-year monthly payment (graduates) | $212.03/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
A single median figure conceals how much debt outcomes differ student to student. The figures below chart the debt distribution at LMU.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,250 |
| 25th percentile | $6,250 |
| 75th percentile | $20,000 |
| 90th percentile (highest-debt students) | $26,800 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $16,694 |
| Middle income | $15,000 |
| High income | $15,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $15,750 |
| Continuing-generation students | $15,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $13,500 |
| Independent students | $20,000 |
The figure below distills the debt data into a single burden category for LMU.
Stafford loans make up the bulk of federal direct lending to undergraduates. The annual Stafford volume below reflects program activity at LMU:
| Metric | Value |
|---|---|
| Stafford loan recipients | 19631 |
| Total Stafford loan amount | $933,167,737 |
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 | 85 |
| Total GI Bill amount | $1,585,591 |
| Average GI Bill amount per recipient | $18,654 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 0 |
| Total DoD amount | $0 |
References
More about our data sources and methodologies.