by our College Data Analytics TeamMany students are not billed 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 total cost of going to Los Angeles College of Music can seem overpowering, but remember that the majority of students are given some form of financial assistance.
Just what financial assistance solutions will LACM deliver, and just what are you going to be eligible for? Read on for answers. Keep reading to see what amount of financial assistance could be accessible to you.
How much aid you qualify for depends largely on your family’s financial circumstances. The information provided on this page can help you determine how much aid you may receive from Los Angeles College of Music.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
At Los Angeles College of Music, 73% of new full-time first-years were awarded at least some aid some 47 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 72% | $5,532 |
| Institutional grants & scholarships | 70% | $5,260 |
| Federal Pell grants | 14% | $1,760 |
| State/local grants | 2% | $1,333 |
| Federal student loans | 19% | $1,980 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. At this school, roughly 75% of undergrads got grants or scholarships worth on average $7,613 (among about 199 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 75% | $7,613 |
| Federal Pell grants | 20% | $2,123 |
| Federal student loans | 32% | $3,630 |
For students living on campus and receiving title-IV aid, grants averaged $6,115.
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 | $37,722 |
| $30,001 – $75,000 | $42,350 |
| Over $75,000 | $43,788 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
Net price is the average annual cost after grants and scholarships are subtracted from the published cost of attendance — the figure closest to what a typical aid-receiving student actually pays.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $43,590 |
| Off-campus title-IV students | $40,853 |
For a customized cost estimate, visit LACM’s online cost calculator: www.lacm.edu/wp-content/uploads/2020/08/index.html.
The middle student in the debt distribution at LACM owes $17,521 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $17,521 |
| Median federal debt (graduates only) | $27,938 |
| Typical 10-year monthly payment (graduates) | $296.19/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. These percentiles trace how cumulative federal debt is spread among borrowers at LACM.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $5,500 |
| 75th percentile | $16,000 |
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 | $18,250 |
| Middle income | $22,391 |
| High income | $12,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $18,375 |
| Continuing-generation students | $14,725 |
The figure below distills the debt data into a single burden category for LACM.
Stafford loans are the federal government’s primary direct undergraduate lending program. Below is the annual Stafford program activity at LACM:
| Metric | Value |
|---|---|
| Stafford loan recipients | 509 |
| Total Stafford loan amount | $7,928,754 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 6 |
| Total GI Bill amount | $156,726 |
| Average GI Bill amount per recipient | $26,121 |
References
More about our data sources and methodologies.