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 RISD and what you may be eligible for? Explore the answers here.
$32,571.00 is the typical Rhode Island School of Design’s first year financial aid package. 42% of first-year students are awarded financial aid, primarily comprising grants and scholarships.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
Uneasy about the debt that may be included in your financial aid plan? Find the average amount of debt per student at Rhode Island School of Design.
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 Rhode Island School of Design.
33% of first-year students (157 total) were offered scholarships at Rhode Island School of Design, averaging $30,154.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 16% of freshmen (75 total) obtained a federal grant, for about $5,495.00 a piece.
Amount of Financial Assistance Per Income Level
The table following demonstrates grant and scholarship distributions by income level for freshmen getting any sort of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 6.88% | $38,277.00 |
| Income 30k-48k | 6.88% | $39,202.00 |
| Income 48k-75k | 3.96% | $35,590.00 |
| Income 75k-110k | 5.42% | $30,942.00 |
| Income 110k + | 8.96% | $13,133.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
158 RISD undergrads obtain grant aid (this is about 42% of the entire undergraduate student population). The average amount these students receive is $32,571.00.
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.
