by our College Data Analytics TeamMost students will never be charged 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 price tag of going to Merrimack College can appear tremendous, but do not forget that almost all students obtain some kind of financial help.
What financial aid options can Merrimack offer, and what will you qualify for? Keep reading for more information. Keep going to learn what amount of financial assistance will be accessible to you.
Eligibility for aid and scholarships is driven mostly by your household’s income and need. Continue reading to find information to help you understand just how much assistance you can expect to receive from Merrimack College.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
Among first-time, full-time freshmen at Merrimack College, 100% of first-year full-time students received aid of some kind approximately 1070 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $31,550 |
| Institutional grants & scholarships | 100% | $30,046 |
| Federal Pell grants | 18% | $5,164 |
| State/local grants | 14% | $2,826 |
| Federal student loans | 64% | $5,279 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At Merrimack, about 95% of undergraduates were awarded an average grant or scholarship of $29,058 (among about 3977 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 95% | $29,058 |
| Federal Pell grants | 16% | $5,391 |
| Federal student loans | 60% | $6,520 |
On-campus students receiving title-IV aid were awarded grants averaging $32,111.
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 | $28,802 |
| $30,001 – $75,000 | $31,999 |
| Over $75,000 | $40,523 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
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 | $37,927 |
| Off-campus title-IV students | $37,899 |
For a customized cost estimate, visit Merrimack’s official net price calculator: www.merrimack.edu/aid/net-price-calculator/.
Graduating students at Merrimack carry a median federal student debt of $23,750 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $23,750 |
| Median federal debt (graduates only) | $27,000 |
| Typical 10-year monthly payment (graduates) | $286.24/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 percentiles below describe the cumulative federal debt distribution for borrowers at Merrimack.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $8,802 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $29,000 |
Debt outcomes are not uniform — they shift with income, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $24,125 |
| Middle income | $24,660 |
| High income | $23,250 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $24,250 |
| Continuing-generation students | $23,250 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $23,750 |
| Independent students | $23,000 |
The Department of Education computes summary indicators that describe debt outcomes at a glance. Merrimack.
The Stafford loan program is the largest source of federal direct loans to undergraduates. The aggregate figures below show how active the program is at Merrimack:
| Metric | Value |
|---|---|
| Stafford loan recipients | 11965 |
| Total Stafford loan amount | $208,356,311 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 55 |
| Total GI Bill amount | $780,950 |
| Average GI Bill amount per recipient | $14,199 |
References
More about our data sources and methodologies.