by our College Data Analytics TeamThe majority of students will never be charged the complete price tag of a school. Rather, they are presented a financial aid deal that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The total cost of going to Millikin University can seem overwhelming, but bear in mind that many students are given some form of financial aid.
What financing options does Millikin offer you, and what will you qualify for? Keep scrolling for more information. Keep going to find out how much school funding will be available 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 Millikin University.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
Looking at the entering class at Millikin University, 100% of new full-time first-years were awarded at least some aid roughly 329 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $34,733 |
| Institutional grants & scholarships | 100% | $28,307 |
| Federal Pell grants | 47% | $6,103 |
| State/local grants | 42% | $7,956 |
| Federal student loans | 62% | $5,828 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. At Millikin, about 92% of undergraduate students received gift aid averaging $31,416 (covering around 1449 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 92% | $31,416 |
| Federal Pell grants | 38% | $5,775 |
| Federal student loans | 56% | $6,969 |
On-campus students receiving title-IV aid were awarded grants averaging $35,486.
Since aid is largely need-based, the real cost of attendance falls steeply for lower-income families.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $3,746 |
| $30,001 – $75,000 | $6,785 |
| Over $75,000 | $13,621 |
Remember these are net prices — what families pay after gift aid, not before.
The net price represents the average annual cost a title-IV-receiving student pays after grant aid is subtracted from the full cost of attendance.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $21,989 |
| Off-campus title-IV students | $23,453 |
For a customized cost estimate, visit Millikin’s official net price calculator: [tcc.ruffalonl.com/Millikin University/First-Year-Students](https://tcc.ruffalonl.com/Millikin University/First-Year-Students).
A typical borrower at Millikin leaves with $19,000 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $19,000 |
| Median federal debt (graduates only) | $27,000 |
| Typical 10-year monthly payment (graduates) | $286.24/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
The numbers below show the full range, not just the middle of the distribution. The figures below chart the debt distribution at Millikin.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,000 |
| 25th percentile | $10,500 |
| 75th percentile | $28,500 |
| 90th percentile (highest-debt students) | $36,750 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $20,000 |
| Middle income | $20,000 |
| High income | $16,207 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $20,000 |
| Continuing-generation students | $16,375 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $17,750 |
| Independent students | $24,893 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. Millikin.
Stafford loans are the federal government’s primary direct undergraduate lending program. These figures summarize annual Stafford program activity at Millikin:
| Metric | Value |
|---|---|
| Stafford loan recipients | 9748 |
| Total Stafford loan amount | $187,537,985 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 15 |
| Total GI Bill amount | $194,402 |
| Average GI Bill amount per recipient | $12,960 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 0 |
| Total DoD amount | $0 |
References
More about our data sources and methodologies.