by our College Data Analytics TeamThe majority 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 McPherson College can seem overwhelming, but bear in mind that many students are given some form of financial aid.
What financial assistance options will McPherson College offer, and what will you qualify for? Read on for more information. Keep going to see how much school funding could be available to you.
Your financial aid package, which may contain grants and scholarships, will be determined on your financial need. The figures below will help you estimate the aid you might receive from McPherson 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.
At McPherson College, 100% of first-year full-time students received aid of some kind roughly 241 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $23,513 |
| Institutional grants & scholarships | 100% | $19,989 |
| Federal Pell grants | 47% | $5,499 |
| State/local grants | 15% | $4,986 |
| Federal student loans | 69% | $5,264 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. Here, around 100% of undergraduates were awarded grant or scholarship aid averaging $24,072 (across roughly 788 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $24,072 |
| Federal Pell grants | 38% | $5,439 |
| Federal student loans | 64% | $6,320 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $24,170.
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 | $20,975 |
| $30,001 – $75,000 | $23,538 |
| Over $75,000 | $27,752 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
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 | $26,441 |
| Off-campus title-IV students | $24,837 |
For a customized cost estimate, visit McPherson College’s net price calculator: www.mcpherson.edu/admissions/financial-aid/net-price-calculator/.
Graduating students at McPherson College carry a median federal student debt of $13,833 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $13,833 |
| Median federal debt (graduates only) | $25,242 |
| Typical 10-year monthly payment (graduates) | $267.61/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. The figures below chart the debt distribution at McPherson College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,500 |
| 25th percentile | $6,500 |
| 75th percentile | $26,596 |
| 90th percentile (highest-debt students) | $36,000 |
Debt outcomes are not uniform — they shift with income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $13,375 |
| Middle income | $14,521 |
| High income | $14,000 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $14,000 |
| Continuing-generation students | $12,250 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $13,750 |
| Independent students | $14,611 |
These indicators are derived from the underlying debt data and summarize the overall picture at McPherson College.
Stafford loans are the federal government’s primary direct undergraduate lending program. The aggregate figures below show how active the program is at McPherson College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 3728 |
| Total Stafford loan amount | $59,022,196 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 6 |
| Total GI Bill amount | $105,439 |
| Average GI Bill amount per recipient | $17,573 |
References
More about our data sources and methodologies.