by our College Data Analytics TeamThe majority of 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 sum total of attendance at Saint Mary’s College of California can sound overwhelming, but bear in mind that many students get some type of financial aid.
Just what financial aid solutions can SMC deliver, and just what are you going to be eligible for? Keep reading for answers. Keep scrolling to learn just how much financial aid will be open to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Read on to get a sense of the financial assistance available at Saint Mary’s College of California.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
Among first-time, full-time freshmen at Saint Mary’s College of California, 100% of first-time, full-time freshmen received some form of financial aid some 498 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $42,407 |
| Institutional grants & scholarships | 100% | $38,486 |
| Federal Pell grants | 25% | $6,513 |
| State/local grants | 25% | $8,445 |
| Federal student loans | 40% | $4,972 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. Across the undergraduate body at SMC, some 96% of undergraduates were awarded an average grant or scholarship of $39,110 (for some 1953 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 96% | $39,110 |
| Federal Pell grants | 27% | $5,419 |
| Federal student loans | 42% | $6,708 |
On-campus students receiving title-IV aid were awarded grants averaging $47,281.
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 | $17,540 |
| $30,001 – $75,000 | $20,773 |
| Over $75,000 | $37,596 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
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 | $30,378 |
| Off-campus title-IV students | $31,198 |
For a customized cost estimate, visit SMC’s net price tool: www.stmarys-ca.edu/financial-aid/net-price-calculator.
The middle student in the debt distribution at SMC owes $19,500 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $19,500 |
| Median federal debt (graduates only) | $23,691 |
| Typical 10-year monthly payment (graduates) | $251.16/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
A single median figure conceals how much debt outcomes differ student to student. The four reference points below map the debt distribution at SMC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $12,000 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $32,000 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $23,000 |
| Middle income | $20,500 |
| High income | $19,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $20,500 |
| Continuing-generation students | $19,500 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $19,500 |
| Independent students | $25,000 |
The Department of Education computes summary indicators that describe debt outcomes at a glance. SMC.
Stafford loans are the federal government’s primary direct undergraduate lending program. Below is the annual Stafford program activity at SMC:
| Metric | Value |
|---|---|
| Stafford loan recipients | 12177 |
| Total Stafford loan amount | $314,663,791 |
Veterans and active-duty service members may qualify for the Post-9/11 GI Bill or DoD Tuition Assistance.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 34 |
| Total GI Bill amount | $744,820 |
| Average GI Bill amount per recipient | $21,906 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 0 |
| Total DoD amount | $0 |
References
More about our data sources and methodologies.