by our College Data Analytics TeamA lot of students will never be charged the full sticker price of a school. Rather, they are offered a financial aid plan that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The sum total of attendance at Murray State University can sound overpowering, but remember that the majority of students get some type of financial assistance.
What financial assistance options will Murray State offer, and what will you qualify for? Read on for more information. Read on to learn what amount of financial assistance will be accessible to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Use the information below to understand how much financial assistance you may get from Murray State University.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. However, some types of aid are more desirable than others, and some students will receive more than others.
Among first-time, full-time freshmen at Murray State University, 100% of new full-time first-years were awarded at least some aid roughly 1644 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $14,178 |
| Institutional grants & scholarships | 96% | $9,225 |
| Federal Pell grants | 43% | $5,993 |
| State/local grants | 61% | $4,381 |
| Federal student loans | 43% | $6,909 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. At Murray State, roughly 93% of the undergraduate population received grant aid that averaged $11,179 (across approximately 7309 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 93% | $11,179 |
| Federal Pell grants | 33% | $5,752 |
| Federal student loans | 35% | $8,077 |
For students living on campus and receiving title-IV aid, grants averaged $14,389.
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 | $5,632 |
| $30,001 – $75,000 | $7,797 |
| Over $75,000 | $13,798 |
Each figure is the net price after grants and scholarships, not the published sticker price.
After grants and scholarships come off the published price, what remains is the net price — the best estimate of true out-of-pocket cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $9,096 |
| Off-campus title-IV students | $9,121 |
To get a personalized net price estimate, try Murray State’s net price tool: www.murraystate.edu/admissions/BursarsOffice/net-price.aspx.
The middle student in the debt distribution at Murray State owes $15,000 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $15,000 |
| Median federal debt (graduates only) | $20,500 |
| Typical 10-year monthly payment (graduates) | $217.33/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. The percentiles below describe the cumulative federal debt distribution for borrowers at Murray State.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,497 |
| 25th percentile | $6,000 |
| 75th percentile | $26,000 |
| 90th percentile (highest-debt students) | $34,735 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $14,708 |
| Middle income | $14,250 |
| High income | $15,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $15,000 |
| Continuing-generation students | $14,363 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,250 |
| Independent students | $17,236 |
The figure below distills the debt data into a single burden category for Murray State.
Stafford loans make up the bulk of federal direct lending to undergraduates. Below is the annual Stafford program activity at Murray State:
| Metric | Value |
|---|---|
| Stafford loan recipients | 28285 |
| Total Stafford loan amount | $617,946,074 |
If you are a veteran or active-duty service member, the GI Bill and DoD Tuition Assistance are the primary federal programs you can use at this school.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 165 |
| Total GI Bill amount | $1,227,613 |
| Average GI Bill amount per recipient | $7,440 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 88 |
| Total DoD amount | $160,050 |
| Average DoD amount per recipient | $1,819 |
References
More about our data sources and methodologies.