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 cost of going to Randolph-Macon College can seem tremendous, but do not forget that almost all students are given some form of financial help.
What financial assistance options will Randolph - Macon offer you, and what will you qualify for? Read on for more information. Keep reading to discover how much school funding could be available to you.
Eligibility for aid and scholarships is driven mostly by your household’s income and need. Use the information below to understand how much financial assistance you may get from Randolph-Macon College.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Bear in mind that not all aid is equal, and the amount any one student receives can vary widely.
Among first-time, full-time freshmen at Randolph-Macon College, 100% of the incoming full-time class was awarded financial aid approximately 430 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $34,972 |
| Institutional grants & scholarships | 100% | $29,991 |
| Federal Pell grants | 20% | $5,222 |
| State/local grants | 80% | $4,833 |
| Federal student loans | 61% | $5,435 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. At this school, about 99% of undergrads got grants or scholarships worth on average $34,910 (among about 1481 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 99% | $34,910 |
| Federal Pell grants | 20% | $5,308 |
| Federal student loans | 57% | $6,480 |
For students living on campus and receiving title-IV aid, grants averaged $36,119.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $22,537 |
| $30,001 – $75,000 | $26,911 |
| Over $75,000 | $29,318 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
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 | $27,866 |
| Off-campus title-IV students | $27,759 |
For an estimate tailored to your family circumstances, see Randolph - Macon’s net price tool: www.rmc.edu/admissions-and-aid/tuition-and-aid/cost-of-attendance/#Net-Price-Calculator.
The median federal debt load at Randolph - Macon comes to $22,500 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $22,500 |
| Median federal debt (graduates only) | $27,000 |
| Typical 10-year monthly payment (graduates) | $286.24/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
The numbers below show the full range, not just the middle of the distribution. The figures below chart the debt distribution at Randolph - Macon.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $11,250 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $33,000 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $24,270 |
| Middle income | $23,500 |
| High income | $20,750 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $23,976 |
| Continuing-generation students | $19,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $22,281 |
| Independent students | $25,000 |
The figure below distills the debt data into a single burden category for Randolph - Macon.
Stafford loans make up the bulk of federal direct lending to undergraduates. The aggregate figures below show how active the program is at Randolph - Macon:
| Metric | Value |
|---|---|
| Stafford loan recipients | 4627 |
| Total Stafford loan amount | $76,465,928 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 29 |
| Total GI Bill amount | $748,611 |
| Average GI Bill amount per recipient | $25,814 |
References
More about our data sources and methodologies.