by our College Data Analytics TeamFinancial aid in the form of loans, grants, work-study, and scholarships is one way colleges reduce the cost of attendance so most students can actually afford to attend.
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 Nichols.
$22,324.00 is the typical Nichols College’s first year financial aid package. 100% of first-year students are awarded financial aid, primarily comprising grants and scholarships.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
We feel that loan debt ought to be regarded as a consequence instead of true financial aid. Learn more on student loan debt at Nichols College.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
100% of incoming freshmen (342 total) were awarded scholarships at Nichols College, averaging $20,438.00 a piece. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 33% of freshmen (112 total) received a federal grant, for about $5,362.00 a person.
The table below demonstrates scholarship and grant allocations by income level for freshmen receiving any type of federal Title IV assistance, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 16.96% | $26,819.00 |
| Income 30k-48k | 11.99% | $24,235.00 |
| Income 48k-75k | 12.87% | $22,827.00 |
| Income 75k-110k | 15.79% | $21,477.00 |
| Income 110k + | 34.21% | $20,285.00 |
The table above shows students who are receiving Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more.
100% of the 342 undergraduates at Nichols College receive some sort of grant aid. This is a total of about 342 students getting an average of $22,324.00 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.