by our College Data Analytics TeamMost students are not billed 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 price tag of going to Rocky Mountain College of Art and Design can appear tremendous, but do not forget that almost all students obtain some kind of financial help.
What financing options does RMCAD offer, and what will you qualify for? Keep scrolling for more information. Read on 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. Continue reading to find information to help you understand just how much assistance you can expect to receive from Rocky Mountain College of Art and Design.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
At Rocky Mountain College of Art and Design, 90% of first-year full-time students received aid of some kind approximately 103 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 78% | $5,429 |
| Institutional grants & scholarships | 43% | $2,403 |
| Federal Pell grants | 47% | $6,254 |
| State/local grants | 2% | $3,000 |
| Federal student loans | 67% | $7,636 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. Across the undergraduate body at RMCAD, about 67% of undergraduates were awarded an average grant or scholarship of $5,170 (covering around 1264 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 67% | $5,170 |
| Federal Pell grants | 48% | $5,322 |
| Federal student loans | 60% | $8,873 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $5,142.
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 | $24,327 |
| $30,001 – $75,000 | $27,532 |
| Over $75,000 | $32,093 |
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 | $32,363 |
| Off-campus title-IV students | $28,037 |
To project your own net price, use RMCAD’s net price tool: www.rmcad.edu/policies-and-guidelines/net-price-calculator/.
The median federal debt load at RMCAD comes to $9,500 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $9,500 |
| Median federal debt (graduates only) | $31,000 |
| Typical 10-year monthly payment (graduates) | $328.65/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
The numbers below show the full range, not just the middle of the distribution. The figures below chart the debt distribution at RMCAD.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,234 |
| 25th percentile | $5,500 |
| 75th percentile | $29,500 |
| 90th percentile (highest-debt students) | $41,956 |
Median debt varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $9,500 |
| Middle income | $9,500 |
| High income | $10,110 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,500 |
| Continuing-generation students | $11,000 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $8,400 |
| Independent students | $10,679 |
These indicators are derived from the underlying debt data and summarize the overall picture at RMCAD.
Stafford loans are the federal government’s primary direct undergraduate lending program. These figures summarize annual Stafford program activity at RMCAD:
| Metric | Value |
|---|---|
| Stafford loan recipients | 6459 |
| Total Stafford loan amount | $119,394,237 |
Veterans and active-duty service members may qualify for the Post-9/11 GI Bill or DoD Tuition Assistance.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 115 |
| Total GI Bill amount | $2,008,726 |
| Average GI Bill amount per recipient | $17,467 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 24 |
| Total DoD amount | $58,749 |
| Average DoD amount per recipient | $2,448 |
References
More about our data sources and methodologies.