by our College Data Analytics TeamMost college students will not be charged the full price tag of a school. Instead, they will be offered a financial aid package that includes a combination of loans, grants, scholarships and possibly work-study opportunities.
The amount of financial assistance and scholarships or grants you can get varies based on your circumstances. Keep reading to learn more to help you to know just how much aid and scholarships to expect from Murray State College.
$5,651.00 is the typical Murray State College’s first year financial aid package. About 93% of first year students receive financial aid, most of which is in the form of grants and scholarships.
Financial aid helps lower the cost, or the full retail price of the institution. But bear in mind that the only true college discount is scholarships & grants.
Student debt really should be considered to be an added expense and not as “aid” or a “discount”. Find more about student loan debt at Murray State College.
Financial awards given by a college or university to its students, known as institutional scholarships and grants, help to offset the cost of tuition and other education-related expenses. These awards fall into two categories: merit-based and need-based, and they do not need to be paid back. Merit-based institutional scholarships are granted to students who have shown outstanding academic accomplishments, special talents, or abilities in a particular field. Factors such as high school performance, standardized test results, or involvement in extracurricular activities often contribute to these scholarship decisions. Conversely, need-based institutional grants cater to students who demonstrate financial need. The awarded amount is typically based on the student’s family’s financial standing and is intended to cover the difference between the cost of attendance and the family’s ability to contribute. Colleges and universities might use data from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms to determine a student’s eligibility for need-based grants. Institutional scholarships and grants are a vital source of financial support for students, as they can significantly reduce the cost of attending college and help make higher education more accessible.
The following numbers pertain to assistance that is supplied by Murray State College.
53% of incoming freshmen (186 total) were given scholarships at Murray State College, averaging $3,993.00 per student. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 54% of first years (190 total) were awarded federal grant aid, averaging $4,764.00 each.
The following table displays scholarship and grant allocations by family income for freshman students receiving any kind of federal Title IV assistance, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 30.11% | $7,218.00 |
| Income 30k-48k | 8.81% | $7,054.00 |
| Income 48k-75k | 12.22% | $3,660.00 |
| Income 75k-110k | 7.95% | $2,153.00 |
| Income 110k + | 3.41% | $3,509.00 |
The table above displays undergrads who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
93% of the 352 undergraduates at Murray State College receive some sort of grant aid. This is a total of about 288 students getting an average of $5,651.00 per person.
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.
