by our College Data Analytics TeamA large number of students will not be asked to pay 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 Manor College can sound overwhelming, but bear in mind that many students get some type of financial aid.
Just what financial assistance solutions will Manor College provide, and just what are you going to be eligible for? Read on for answers. Keep reading to learn just how much financial aid will be open to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Read on to get a sense of the financial assistance available at Manor 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. However, some types of aid are more desirable than others, and some students will receive more than others.
For freshmen starting at Manor College, 86% of new full-time first-years were awarded at least some aid some 94 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 86% | $13,727 |
| Institutional grants & scholarships | 72% | $5,839 |
| Federal Pell grants | 67% | $6,341 |
| State/local grants | 56% | $5,685 |
| Federal student loans | 72% | $5,324 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. At Manor College, around 74% of undergraduates were awarded an average grant or scholarship of $10,044 (across approximately 446 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 74% | $10,044 |
| Federal Pell grants | 52% | $5,440 |
| Federal student loans | 60% | $7,832 |
For students living on campus and receiving title-IV aid, grants averaged $14,479.
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 | $14,518 |
| $30,001 – $75,000 | $15,971 |
| Over $75,000 | $24,506 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
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 | $13,078 |
| Off-campus title-IV students | $16,521 |
For a personalized estimate based on your family’s financial situation, use Manor College’s net price tool: www.manor.edu/netprice/npcalc.htm.
A typical borrower at Manor College leaves with $11,250 in federal loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $11,250 |
| Median federal debt (graduates only) | $19,000 |
| Typical 10-year monthly payment (graduates) | $201.43/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
A single median figure conceals how much debt outcomes differ student to student. These percentiles trace how cumulative federal debt is spread among borrowers at Manor College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,500 |
| 25th percentile | $5,500 |
| 75th percentile | $18,070 |
| 90th percentile (highest-debt students) | $25,250 |
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 | $11,000 |
| Middle income | $12,000 |
| High income | $12,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $11,000 |
| Continuing-generation students | $14,750 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $11,000 |
| Independent students | $19,000 |
A handful of calculated indicators summarize the debt outlook at Manor College.
Stafford loans are the federal government’s primary direct undergraduate lending program. Below is the annual Stafford program activity at Manor College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 4956 |
| Total Stafford loan amount | $65,011,086 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 4 |
| Total GI Bill amount | $52,714 |
| Average GI Bill amount per recipient | $13,179 |
References
More about our data sources and methodologies.