by our College Data Analytics TeamA large number of students will never be charged 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 total cost of going to Luther Rice College & Seminary can seem tremendous, but do not forget that almost all students are given some form of financial help.
What financial assistance options will Luther Rice offer, and what will you qualify for? Read on for more information. Read on to see just how much financial aid could be open to you.
Eligibility for aid and scholarships is driven mostly by your household’s income and need. Use the information below to understand how much financial assistance you may get from Luther Rice College & Seminary.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
Among first-time, full-time freshmen at Luther Rice College & Seminary, 50% of new full-time first-years were awarded at least some aid roughly 1 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 50% | $3,797 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 50% | $3,697 |
| State/local grants | 0% | — |
| Federal student loans | 0% | — |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. Across the undergraduate body at Luther Rice, some 64% of undergrads got grants or scholarships worth on average $4,666 (across approximately 125 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 64% | $4,666 |
| Federal Pell grants | 50% | $4,341 |
| Federal student loans | 45% | $7,961 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $3,797.
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 | $4,652 |
| $30,001 – $75,000 | $2,786 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
After grants and scholarships come off the published price, what remains is the net price — the best estimate of true out-of-pocket cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $27,883 |
| Off-campus title-IV students | $13,039 |
For a customized cost estimate, visit Luther Rice’s net price tool: www.lutherrice.edu/tuition-and-aid/financial-aid-calculators.cms.
A typical borrower at Luther Rice leaves with $16,094 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $16,094 |
| Median federal debt (graduates only) | $34,153 |
| Typical 10-year monthly payment (graduates) | $362.08/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. The figures below chart the debt distribution at Luther Rice.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,440 |
| 25th percentile | $7,000 |
| 75th percentile | $34,129 |
| 90th percentile (highest-debt students) | $50,000 |
Debt outcomes are not uniform — they shift with income, first-generation status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $17,435 |
| Middle income | $17,919 |
| High income | $11,334 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $15,316 |
| Continuing-generation students | $16,439 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $9,150 |
| Independent students | $16,834 |
A handful of calculated indicators summarize the debt outlook at Luther Rice.
The Stafford program is the federal direct-loan vehicle most undergraduates use. Below is the annual Stafford program activity at Luther Rice:
| Metric | Value |
|---|---|
| Stafford loan recipients | 2585 |
| Total Stafford loan amount | $105,784,740 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 21 |
| Total GI Bill amount | $96,330 |
| Average GI Bill amount per recipient | $4,587 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 3 |
| Total DoD amount | $7,500 |
| Average DoD amount per recipient | $2,500 |
References
More about our data sources and methodologies.