How Many Students Get Financial Aid?
Musicians Institute's average financial aid plan for incoming first year students is $10,636. About 41.0% of new students receive some type of financial aid, the majority of which is in the form of loans.
Loans are a part of financial aid packages, but the only true discount off of the expense of college is a scholarship or grant that you don't have to repay.
We feel that loan debt really should be thought of as an "outcome" and not "aid". Find more about student loan debt at Musicians Institute.
How Much Musicians Institute Aid Is Offered That Won't Put Me in Debt?
The numbers below apply to scholarships and grants primarily provided by Musicians Institute.
27.0% of new students (48 total) were given scholarships at Musicians Institute, averaging $2,823 a piece. This puts it in the middle 20th percentile of all schools in the nation.
As well as scholarships, 28.0% of first year students (50 total) got a federal grant, for about $4,364 a person.
Check out the typical amount of scholarships and grants first years receive by checking out the chart below.
Grants are usually based on need while scholarships are based on merit or ability.
Financial Aid per Family Income
Find out how much scholarship and grant aid you may expect to receive determined by your family income. The chart below shows freshmen receiving federal Title IV assistance such as PLUS loans.
|Income Level||Percent of Freshman||Average Assistance|
|Income 110k +||6.2%||$2,000|
Title IV aid includes loans, grants, or work-study granted by the federal government typically determined by need. Learn more here.
$4,981 is the Average Amount an Undergrad Receives in Scholarships or Grants
425 Musicians Institute students obtain grants (this is about 38.0% of the entire student body). The typical amount these students obtain is $4,981 The most of which are in the form of Pell Grants.
Financial Aid Links from Musicians Institute
|Financial Aid Department Website||https://www.mi.edu/admissions/financial-aid/|
|Net Price Calculator||mi.edu/student-consumer-disclosure/net-price-calculator/|
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