by our College Data Analytics TeamMany students are not billed 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 Midwestern Career College can seem tremendous, but do not forget that almost all students are given some form of financial help.
Just what financial aid solutions can Midwestern Career College deliver, and just what are you going to be eligible for? Keep reading for answers. Read on to find out just how much financial aid will be open to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. The figures below will help you estimate the aid you might receive from Midwestern Career 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. Bear in mind that not all aid is equal, and the amount any one student receives can vary widely.
For incoming first-year students at Midwestern Career College, 77% of the incoming full-time class was awarded financial aid around 132 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 72% | $4,684 |
| Institutional grants & scholarships | 20% | $1,153 |
| Federal Pell grants | 67% | $4,428 |
| State/local grants | 1% | $6,052 |
| Federal student loans | 69% | $5,929 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. At Midwestern Career College, about 51% of undergraduates were awarded an average grant or scholarship of $4,913 (for some 604 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 51% | $4,913 |
| Federal Pell grants | 43% | $4,872 |
| Federal student loans | 51% | $7,309 |
For on-campus title-IV students, average grant aid came to $3,754.
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 | $11,331 |
| $30,001 – $75,000 | $12,453 |
| Over $75,000 | $13,901 |
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 | $20,462 |
| Off-campus title-IV students | $8,495 |
To project your own net price, use Midwestern Career College’s online cost calculator: mccollege.edu/net-price-calculator/.
The median federal debt load at Midwestern Career College comes to $7,521 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $7,521 |
| Median federal debt (graduates only) | $7,521 |
| Typical 10-year monthly payment (graduates) | $79.74/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
A single median figure conceals how much debt outcomes differ student to student. These percentiles trace how cumulative federal debt is spread among borrowers at Midwestern Career College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,563 |
| 25th percentile | $4,750 |
| 75th percentile | $10,586 |
| 90th percentile (highest-debt students) | $13,438 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $7,521 |
| Middle income | $7,521 |
| High income | $8,184 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $7,521 |
| Continuing-generation students | $7,521 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $7,521 |
| Independent students | $7,521 |
A handful of calculated indicators summarize the debt outlook at Midwestern Career College.
Stafford loans are the federal government’s primary direct undergraduate lending program. The annual Stafford volume below reflects program activity at Midwestern Career College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 2438 |
| Total Stafford loan amount | $24,438,367 |
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 | 14 |
| Total GI Bill amount | $133,422 |
| Average GI Bill amount per recipient | $9,530 |
References
More about our data sources and methodologies.