by our College Data Analytics TeamMany students are not billed the complete price tag of a school. Rather, they are presented a financial aid deal that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The price tag of going to Rasmussen University-Illinois can appear overwhelming, but bear in mind that many students obtain some kind of financial aid.
Just what financial assistance solutions will Rasmussen University - Illinois provide, and just what are you going to be eligible for? Read on for answers. Keep scrolling to find out what amount of financial assistance will be accessible to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Continue reading to find information to help you understand just how much assistance you can expect to receive from Rasmussen University-Illinois.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
For incoming first-year students at Rasmussen University-Illinois, 97% of first-year full-time students received aid of some kind roughly 31 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 97% | $7,264 |
| Institutional grants & scholarships | 56% | $2,017 |
| Federal Pell grants | 81% | $6,941 |
| State/local grants | 0% | — |
| Federal student loans | 84% | $8,850 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. Across the undergraduate body at Rasmussen University - Illinois, around 76% of undergraduates were awarded an average grant or scholarship of $7,275 (across approximately 1012 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 76% | $7,275 |
| Federal Pell grants | 62% | $5,798 |
| Federal student loans | 78% | $9,001 |
On-campus students receiving title-IV aid were awarded grants averaging $7,747.
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 | $17,551 |
| $30,001 – $75,000 | $19,473 |
| Over $75,000 | $19,823 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
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 | $19,854 |
| Off-campus title-IV students | $18,470 |
To project your own net price, use Rasmussen University - Illinois’s net price tool: npc.collegeboard.org/app/rasmussen.
Graduating students at Rasmussen University - Illinois carry a median federal student debt of $13,000 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $13,000 |
| Median federal debt (graduates only) | $20,899 |
| Typical 10-year monthly payment (graduates) | $221.56/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. The figures below chart the debt distribution at Rasmussen University - Illinois.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,900 |
| 25th percentile | $3,668 |
| 75th percentile | $19,987 |
| 90th percentile (highest-debt students) | $29,799 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $12,500 |
| Middle income | $14,203 |
| High income | $13,586 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $12,834 |
| Continuing-generation students | $13,845 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $9,834 |
| Independent students | $14,000 |
The Department of Education computes summary indicators that describe debt outcomes at a glance. Rasmussen University - Illinois.
Most undergraduate borrowing runs through the federal Stafford loan program. The annual Stafford volume below reflects program activity at Rasmussen University - Illinois:
| Metric | Value |
|---|---|
| Stafford loan recipients | 129139 |
| Total Stafford loan amount | $2,178,891,070 |
If you are a veteran or active-duty service member, the GI Bill and DoD Tuition Assistance are the primary federal programs you can use at this school.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 11 |
| Total GI Bill amount | $177,347 |
| Average GI Bill amount per recipient | $16,122 |
References
More about our data sources and methodologies.