by our College Data Analytics TeamMost 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 total price of attendance at MGH Institute of Health Professions can feel overpowering, but remember that the majority of students receive some sort of financial assistance.
What financial aid options can MGH Institute of Health Professions offer you, and what will you qualify for? Keep reading for more information. Keep going to discover what amount of financial assistance could be accessible to you.
Your financial aid package, which may contain grants and scholarships, will be determined on your financial need. Use the information below to understand how much financial assistance you may get from MGH Institute of Health Professions.
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.
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. Here, roughly 23% of undergraduates were awarded grant or scholarship aid averaging $18,070 (covering around 73 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 23% | $18,070 |
| Federal Pell grants | 0% | — |
| Federal student loans | 23% | $12,849 |
A typical borrower at MGH Institute of Health Professions leaves with $24,700 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $24,700 |
| Median federal debt (graduates only) | $24,961 |
| Typical 10-year monthly payment (graduates) | $264.63/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
A single median figure conceals how much debt outcomes differ student to student. Use the percentiles below to see the debt range at MGH Institute of Health Professions.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $6,250 |
| 25th percentile | $14,937 |
| 75th percentile | $25,000 |
| 90th percentile (highest-debt students) | $25,000 |
Median debt varies by family income, by first-generation status, and by dependency status.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $25,000 |
| Middle income | $25,000 |
| High income | $15,000 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $24,975 |
| Continuing-generation students | $23,990 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $15,000 |
| Independent students | $25,000 |
The figure below distills the debt data into a single burden category for MGH Institute of Health Professions.
Stafford loans are the federal government’s primary direct undergraduate lending program. These figures summarize annual Stafford program activity at MGH Institute of Health Professions:
| Metric | Value |
|---|---|
| Stafford loan recipients | 4635 |
| Total Stafford loan amount | $224,076,506 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 17 |
| Total GI Bill amount | $427,980 |
| Average GI Bill amount per recipient | $25,175 |
References
More about our data sources and methodologies.