by our College Data Analytics TeamA lot of students will not be asked to pay 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 total price of attendance at New England College can feel tremendous, but do not forget that almost all students receive some sort of financial help.
What financial assistance options will NEC offer you, and what will you qualify for? Read on for more information. Read on to discover how much school funding could be available to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. The information provided on this page can help you determine how much aid you may receive from New England College.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
For freshmen starting at New England College, 100% of first-year full-time students received aid of some kind approximately 234 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 99% | $32,095 |
| Institutional grants & scholarships | 97% | $29,572 |
| Federal Pell grants | 38% | $5,723 |
| State/local grants | 15% | $3,294 |
| Federal student loans | 75% | $5,724 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. At this school, roughly 87% of the undergraduate population received grant aid that averaged $28,281 (across approximately 856 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 87% | $28,281 |
| Federal Pell grants | 36% | $5,663 |
| Federal student loans | 72% | $6,750 |
On-campus students receiving title-IV aid were awarded grants averaging $32,378.
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 | $26,495 |
| $30,001 – $75,000 | $30,554 |
| Over $75,000 | $32,309 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
The net price represents the average annual cost a title-IV-receiving student pays after grant aid is subtracted from the full cost of attendance.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $26,972 |
| Off-campus title-IV students | $30,299 |
For an estimate tailored to your family circumstances, see NEC’s online cost calculator: nec.studentaidcalculator.com/survey.aspx.
Graduating students at NEC carry a median federal student debt of $15,603 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $15,603 |
| Median federal debt (graduates only) | $26,000 |
| Typical 10-year monthly payment (graduates) | $275.64/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
Looking only at the median can be misleading because it hides the spread. The percentiles below describe the cumulative federal debt distribution for borrowers at NEC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,354 |
| 25th percentile | $5,500 |
| 75th percentile | $21,500 |
| 90th percentile (highest-debt students) | $32,000 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $15,000 |
| Middle income | $17,000 |
| High income | $15,250 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $15,259 |
| Continuing-generation students | $16,903 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $14,250 |
| Independent students | $17,753 |
These indicators are derived from the underlying debt data and summarize the overall picture at NEC.
The Stafford loan program is the largest source of federal direct loans to undergraduates. Below is the annual Stafford program activity at NEC:
| Metric | Value |
|---|---|
| Stafford loan recipients | 11998 |
| Total Stafford loan amount | $247,630,637 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 46 |
| Total GI Bill amount | $386,987 |
| Average GI Bill amount per recipient | $8,413 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 115 |
| Total DoD amount | $299,832 |
| Average DoD amount per recipient | $2,607 |
References
More about our data sources and methodologies.