by our College Data Analytics TeamMany 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 price tag of going to Prism Career Institute, West Atlantic City can appear overpowering, but remember that the majority of students obtain some kind of financial assistance.
Just what financial aid solutions can Prism Career Institute provide, and just what are you going to be eligible for? Keep reading for answers. Keep reading to find out how much school funding will be available to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. The figures below will help you estimate the aid you might receive from Prism Career Institute, West Atlantic City.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. However, some types of aid are more desirable than others, and some students will receive more than others.
Looking at the entering class at Prism Career Institute, West Atlantic City, 82% of entering full-time freshmen got some type of financial assistance around 105 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 74% | $4,682 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 73% | $4,494 |
| State/local grants | 2% | $8,000 |
| Federal student loans | 69% | $6,937 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At Prism Career Institute, some 74% of undergraduate students received gift aid averaging $5,337 (covering around 297 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 74% | $5,337 |
| Federal Pell grants | 73% | $5,023 |
| Federal student loans | 63% | $7,601 |
For on-campus title-IV students, average grant aid came to $4,974.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $28,399 |
| $30,001 – $75,000 | $29,879 |
| Over $75,000 | $29,819 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
Net price is the cost remaining after grant and scholarship aid is subtracted from the sticker price, and it is the most useful single number for estimating real cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $29,653 |
| Off-campus title-IV students | $28,754 |
For an estimate tailored to your family circumstances, see Prism Career Institute’s net price calculator: www.prismcareerinstitute.edu/netprice/all-campus-npcalc.htm.
The median federal debt load at Prism Career Institute comes to $16,645 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $16,645 |
| Median federal debt (graduates only) | $17,200 |
| Typical 10-year monthly payment (graduates) | $182.35/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. The four reference points below map the debt distribution at Prism Career Institute.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,669 |
| 25th percentile | $7,600 |
| 75th percentile | $17,200 |
| 90th percentile (highest-debt students) | $17,200 |
Median debt varies by family income, by first-generation status, and by dependency status.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $16,458 |
| Middle income | $16,892 |
| High income | $13,200 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $16,625 |
| Continuing-generation students | $17,093 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $10,176 |
| Independent students | $17,092 |
These indicators are derived from the underlying debt data and summarize the overall picture at Prism Career Institute.
The Stafford loan program is the largest source of federal direct loans to undergraduates. These figures summarize annual Stafford program activity at Prism Career Institute:
| Metric | Value |
|---|---|
| Stafford loan recipients | 8780 |
| Total Stafford loan amount | $105,049,073 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 0 |
| Total GI Bill amount | $0 |
References
More about our data sources and methodologies.