by our College Data Analytics TeamA large number of students will not be asked to pay 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 total cost of going to Generations College can seem overpowering, but remember that the majority of students are given some form of financial assistance.
Just what financial aid solutions can MacCormac provide, and just what are you going to be eligible for? Keep reading for answers. Keep reading to find out how much school funding will be available to you.
How much aid you qualify for depends largely on your family’s financial circumstances. The figures below will help you estimate the aid you might receive from Generations College.
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. Bear in mind that not all aid is equal, and the amount any one student receives can vary widely.
At Generations College, 100% of entering full-time freshmen got some type of financial assistance around 23 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $7,016 |
| Institutional grants & scholarships | 87% | $2,702 |
| Federal Pell grants | 100% | $3,698 |
| State/local grants | 22% | $3,304 |
| Federal student loans | 13% | $1,750 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. At this school, roughly 89% of undergrads got grants or scholarships worth on average $3,701 (among about 283 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 89% | $3,701 |
| Federal Pell grants | 70% | $3,536 |
| Federal student loans | 23% | $3,957 |
On-campus students receiving title-IV aid were awarded grants averaging $6,766.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $19,167 |
| $30,001 – $75,000 | $19,244 |
| Over $75,000 | $25,660 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
The net price strips out grant and scholarship aid from the sticker price to show roughly what families really pay.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $18,894 |
| Off-campus title-IV students | $19,558 |
For a customized cost estimate, visit MacCormac’s net price calculator: www.generations.edu/admissions/tuition-and-costs.
The median student at MacCormac graduates with $19,000 in federal loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $19,000 |
| Median federal debt (graduates only) | $25,250 |
| Typical 10-year monthly payment (graduates) | $267.69/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
A single median figure conceals how much debt outcomes differ student to student. Use the percentiles below to see the debt range at MacCormac.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,750 |
| 25th percentile | $9,500 |
| 75th percentile | $28,076 |
| 90th percentile (highest-debt students) | $39,321 |
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 | $19,000 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $19,000 |
| Continuing-generation students | $14,250 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,855 |
| Independent students | $19,000 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. MacCormac.
Stafford loans are the federal government’s primary direct undergraduate lending program. The totals below capture Stafford lending at MacCormac:
| Metric | Value |
|---|---|
| Stafford loan recipients | 2036 |
| Total Stafford loan amount | $34,362,384 |
If you are a veteran or active-duty service member, the GI Bill and DoD Tuition Assistance are the primary federal programs you can use at this school.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 0 |
| Total GI Bill amount | $0 |
References
More about our data sources and methodologies.