by our College Data Analytics TeamThe majority of students will never be charged 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 price tag of going to Morton College can appear overpowering, but remember that the majority of students obtain some kind of financial assistance.
What financial assistance options will Morton College offer you, and what will you qualify for? Read on for more information. Read on to learn 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 Morton College.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
At Morton College, 72% of the incoming full-time class was awarded financial aid (about 280 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 72% | $7,204 |
| Institutional grants & scholarships | 19% | $4,091 |
| Federal Pell grants | 57% | $5,672 |
| State/local grants | 52% | $2,057 |
| Federal student loans | 1% | $4,949 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. Here, about 43% of undergraduates were awarded grant or scholarship aid averaging $5,919 (across approximately 1571 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 43% | $5,919 |
| Federal Pell grants | 37% | $4,545 |
| Federal student loans | 1% | $5,122 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $7,610.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $6,504 |
| $30,001 – $75,000 | $7,401 |
| Over $75,000 | $10,123 |
Remember these are net prices — what families pay after gift aid, not before.
Net price is the cost remaining after grant and scholarship aid is subtracted from the sticker price, and it is the most useful single number for estimating real cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $5,191 |
| Off-campus title-IV students | $6,763 |
For a personalized estimate based on your family’s financial situation, use Morton College’s official net price calculator: www.morton.edu/net-price-calculator/.
The median federal debt load at Morton College comes to $5,500 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $5,500 |
| Median federal debt (graduates only) | $8,000 |
| Typical 10-year monthly payment (graduates) | $84.81/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
Looking only at the median can be misleading because it hides the spread. The figures below chart the debt distribution at Morton College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,750 |
| 25th percentile | $2,250 |
| 75th percentile | $8,750 |
| 90th percentile (highest-debt students) | $16,500 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $6,000 |
| Middle income | $5,250 |
| High income | $5,375 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $4,500 |
| Independent students | $8,000 |
The Department of Education computes summary indicators that describe debt outcomes at a glance. Morton College.
Stafford loans make up the bulk of federal direct lending to undergraduates. These figures summarize annual Stafford program activity at Morton College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 2020 |
| Total Stafford loan amount | $22,819,310 |
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 | 13 |
| Total GI Bill amount | $34,165 |
| Average GI Bill amount per recipient | $2,628 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 0 |
| Total DoD amount | $0 |
References
More about our data sources and methodologies.