by our College Data Analytics TeamFinancial 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.
What amount of Millikin financial assistance will actually be available to you?Get answers to your questions here.
$29,450.00 is the typical Millikin University’s first year financial aid package. Approximately 100% of incoming freshmen obtain financial assistance, with the majority being offered as grants and scholarships.
Financial aid contains loans, grants, and scholarships. But college loans need to be repaid, thus they are not a real college discount.
Concerned about the loans that may be included in your financial aid package? See the average amount of debt per student at Millikin University.
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 incoming freshmen (486 total) were given scholarships at Millikin University, averaging $26,097.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 37% of first-year students (182 total) got a federal grant, for about $4,872.00 per person.
The following table shows scholarship and grant allocations by income for first-year students receiving any form of federal Title IV assistance, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 18.93% | $34,247.00 |
| Income 30k-48k | 9.67% | $33,202.00 |
| Income 48k-75k | 13.79% | $31,984.00 |
| Income 75k-110k | 13.17% | $29,016.00 |
| Income 110k + | 22.84% | $25,074.00 |
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.
Of the 486 undergraduate students at Millikin University around 100% (486 total) receive some form of grant aid. The typical amount awarded was $29,450.00.
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.