by our College Data Analytics TeamA lot of students are not billed 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 sum total of attendance at Murray State College can sound overpowering, but remember that the majority of students get some type of financial assistance.
What financial assistance options will Murray State College offer you, and what will you qualify for? Read on for more information. Keep reading to learn just how much financial aid will be open to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. Read on to get a sense of the financial assistance available at Murray State College.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
For incoming first-year students at Murray State College, 96% of the incoming full-time class was awarded financial aid (about 153 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 95% | $7,104 |
| Institutional grants & scholarships | 44% | $5,857 |
| Federal Pell grants | 55% | $5,505 |
| State/local grants | 95% | $1,135 |
| Federal student loans | 78% | $5,165 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. Here, about 88% of undergraduates were awarded grant or scholarship aid averaging $4,748 (across roughly 2352 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 88% | $4,748 |
| Federal Pell grants | 29% | $4,770 |
| Federal student loans | 40% | $6,151 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $7,882.
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 | $14,827 |
| $30,001 – $75,000 | $15,413 |
| Over $75,000 | $15,107 |
Each figure is the net price after grants and scholarships, not the published sticker price.
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 | $12,844 |
| Off-campus title-IV students | $15,071 |
For a personalized estimate based on your family’s financial situation, use Murray State College’s net price tool: www.mscok.edu/admissions/financial-aid/npc.
The middle student in the debt distribution at Murray State College owes $8,886 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $8,886 |
| Median federal debt (graduates only) | $13,387 |
| Typical 10-year monthly payment (graduates) | $141.92/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. These percentiles trace how cumulative federal debt is spread among borrowers at Murray State College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,249 |
| 25th percentile | $4,400 |
| 75th percentile | $16,275 |
| 90th percentile (highest-debt students) | $28,786 |
Median debt varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $9,500 |
| Middle income | $8,291 |
| High income | $8,500 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,058 |
| Continuing-generation students | $7,829 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,000 |
| Independent students | $11,251 |
The figure below distills the debt data into a single burden category for Murray State College.
Stafford loans are the federal government’s primary direct undergraduate lending program. The aggregate figures below show how active the program is at Murray State College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 7510 |
| Total Stafford loan amount | $103,477,251 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 61 |
| Total GI Bill amount | $136,246 |
| Average GI Bill amount per recipient | $2,234 |
References
More about our data sources and methodologies.