by our College Data Analytics TeamThe total cost of attendance at Merrimack College can seem overwhelming, but remember that the majority of students receive some sort of financial assistance. This could be in the form of scholarships, grants, work-study, or loans.
However, some types of financial aid are definitely more desireable than others, and some students will receive more aid than others.Find out more by scrolling down the page.
Merrimack College average financial aid offer for freshmen students is $24,891.00. 100% of first-year students are awarded financial aid, primarily comprising grants and scholarships.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
A college loan is not a true college discount, but rather an outcome to consider. Find out how much student loan debt from Merrimack College you may end up taking on.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
100% of new students (1174 total) were offered scholarships at Merrimack College, averaging $23,817.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 17% of freshman students (200 total) obtained federal grant aid, averaging $5,103.00 a piece.
The table following demonstrates grant and scholarship distributions by income level for freshmen getting any sort of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 7.13% | $32,273.00 |
| Income 30k-48k | 4.24% | $32,538.00 |
| Income 48k-75k | 7.30% | $29,538.00 |
| Income 75k-110k | 11.54% | $26,082.00 |
| Income 110k + | 43.12% | $22,423.00 |
The table above displays undergrads who are obtaining Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
100% of the 1178 undergraduates at Merrimack College receive some sort of grant aid. This is a total of about 1174 students getting an average of $24,891.00 per person.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.