by our College Data Analytics TeamThe majority of college students don’t pay the full price for their education, as financial aid packages, including scholarships, grants, loans, and work-study opportunities, help to offset the costs.
Curious about the financial aid opportunities at OLLU and what you may be eligible for? Explore the answers here.
Our Lady of the Lake University average financial aid offer for freshmen students is $22,157.00. About 99% of first year students receive financial aid, most of which is in the form of grants and scholarships.
Loans are a part of financial aid plans, but the only true college discount is a scholarship or grant that you don’t have to repay.
Concerned about the student loans that might be part of your financing deal? Look at the average amount of debt per student at Our Lady of the Lake University.
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 numbers listed below make reference to help that is offered by Our Lady of the Lake University.
99% of incoming freshmen (328 total) were awarded scholarships at Our Lady of the Lake University, averaging $15,311.00 a piece. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 86% of first-year students (284 total) got a federal grant, for about $4,442.00 per person.
Amount of Financial Assistance Per Income Level
The next table shows grant and scholarship distributions by income for first-year students getting any form of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 37.27% | $23,708.00 |
| Income 30k-48k | 17.27% | $24,205.00 |
| Income 48k-75k | 16.36% | $20,815.00 |
| Income 75k-110k | 10.00% | $19,674.00 |
| Income 110k + | 9.09% | $19,235.00 |
The table above shows undergrads who are getting Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
328 OLLU undergrads obtain grant aid (this is about 99% of the entire undergraduate student population). The average amount these students receive is $22,157.00.
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.