by our College Data Analytics TeamMany students will not be asked to pay the advertised price of a school. Instead, they will be provided a financial aid package that will include a combination of scholarships, grants, loans, and work-study. The total price of attendance at Rhode Island College can feel tremendous, but do not forget that almost all students receive some sort of financial help.
Just what financial aid solutions can RIC provide, and just what are you going to be eligible for? Keep reading for answers. Keep reading to discover how much school funding could be available to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Read on to get a sense of the financial assistance available at Rhode Island College.
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 Rhode Island College, 95% of the incoming full-time class was awarded financial aid approximately 759 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 95% | $6,706 |
| Institutional grants & scholarships | 94% | $3,004 |
| Federal Pell grants | 51% | $5,462 |
| State/local grants | 13% | $3,269 |
| Federal student loans | 45% | $4,974 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. At this school, around 74% of undergrads got grants or scholarships worth on average $6,912 (for some 3551 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 74% | $6,912 |
| Federal Pell grants | 42% | $5,051 |
| Federal student loans | 47% | $6,262 |
For students living on campus and receiving title-IV aid, grants averaged $7,976.
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 | $8,018 |
| $30,001 – $75,000 | $9,678 |
| Over $75,000 | $16,058 |
Each figure is the net price after grants and scholarships, not the published sticker price.
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 | $9,478 |
| Off-campus title-IV students | $10,988 |
For a customized cost estimate, visit RIC’s official net price calculator: www.ric.edu/department-directory/office-financial-aid/net-price-calculator.
Graduating students at RIC carry a median federal student debt of $13,833 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $13,833 |
| Median federal debt (graduates only) | $20,500 |
| Typical 10-year monthly payment (graduates) | $217.33/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. Use the percentiles below to see the debt range at RIC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $5,500 |
| 75th percentile | $25,000 |
| 90th percentile (highest-debt students) | $34,500 |
Median debt varies by family income, by first-generation status, and by dependency status.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $12,500 |
| Middle income | $15,000 |
| High income | $14,999 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $13,700 |
| Continuing-generation students | $14,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $13,000 |
| Independent students | $17,833 |
These indicators are derived from the underlying debt data and summarize the overall picture at RIC.
Stafford loans are the federal government’s primary direct undergraduate lending program. The annual Stafford volume below reflects program activity at RIC:
| Metric | Value |
|---|---|
| Stafford loan recipients | 24753 |
| Total Stafford loan amount | $465,506,105 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 93 |
| Total GI Bill amount | $593,858 |
| Average GI Bill amount per recipient | $6,386 |
References
More about our data sources and methodologies.