by our College Data Analytics TeamA large number 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 total cost of going to Martin Luther College can seem overpowering, but remember that the majority of students are given some form of financial assistance.
What financing options does MLC offer, and what will you qualify for? Keep scrolling for more information. Read on to learn how much school funding will be available to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. The information provided on this page can help you determine how much aid you may receive from Martin Luther 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. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
For freshmen starting at Martin Luther College, 100% of entering full-time freshmen got some type of financial assistance some 150 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $10,276 |
| Institutional grants & scholarships | 100% | $7,939 |
| Federal Pell grants | 36% | $4,807 |
| State/local grants | 7% | $7,429 |
| Federal student loans | 84% | $5,257 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. Here, approximately 81% of undergraduates were awarded grant or scholarship aid averaging $12,559 (across approximately 601 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 81% | $12,559 |
| Federal Pell grants | 27% | $4,805 |
| Federal student loans | 68% | $6,524 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $10,787.
The figures below show the average net price — cost after all grant and scholarship aid — broken out by family income.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $13,738 |
| $30,001 – $75,000 | $16,502 |
| Over $75,000 | $22,846 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
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 | $18,463 |
| Off-campus title-IV students | $20,483 |
To get a personalized net price estimate, try MLC’s net price calculator: www.mlc-wels.edu/static/netpricecalc/npcalc.htm.
The middle student in the debt distribution at MLC owes $16,606 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $16,606 |
| Median federal debt (graduates only) | $20,177 |
| Typical 10-year monthly payment (graduates) | $213.91/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. The percentiles below describe the cumulative federal debt distribution for borrowers at MLC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,500 |
| 25th percentile | $6,911 |
| 75th percentile | $24,500 |
| 90th percentile (highest-debt students) | $30,500 |
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 | $8,263 |
| Middle income | $17,063 |
| High income | $18,990 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $13,919 |
| Continuing-generation students | $17,500 |
A handful of calculated indicators summarize the debt outlook at MLC.
Most undergraduate borrowing runs through the federal Stafford loan program. The annual Stafford volume below reflects program activity at MLC:
| Metric | Value |
|---|---|
| Stafford loan recipients | 1676 |
| Total Stafford loan amount | $21,926,786 |
Veterans and active-duty service members may qualify for the Post-9/11 GI Bill or DoD Tuition Assistance.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 4 |
| Total GI Bill amount | $47,979 |
| Average GI Bill amount per recipient | $11,995 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 6 |
| Total DoD amount | $21,000 |
| Average DoD amount per recipient | $3,500 |
References
More about our data sources and methodologies.