by our College Data Analytics TeamMost 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 total cost of going to Saint Michael’s College can seem overwhelming, but bear in mind that many students are given some form of financial aid.
What financial aid options can Saint Michael’s offer, and what will you qualify for? Keep reading for more information. Keep scrolling to see what amount of financial assistance could be accessible to you.
Your financial aid package, which may contain grants and scholarships, will be determined on your financial need. The figures below will help you estimate the aid you might receive from Saint Michael’s College.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. 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 Michael’s College, 100% of entering full-time freshmen got some type of financial assistance approximately 325 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $41,082 |
| Institutional grants & scholarships | 100% | $37,718 |
| Federal Pell grants | 30% | $5,636 |
| State/local grants | 16% | $6,700 |
| Federal student loans | 58% | $7,946 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At Saint Michael’s, approximately 98% of undergraduates were awarded grant or scholarship aid averaging $38,033 (among about 1152 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 98% | $38,033 |
| Federal Pell grants | 24% | $5,594 |
| Federal student loans | 58% | $9,867 |
Title-IV recipients living on campus saw average grant aid of $43,840.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $19,104 |
| $30,001 – $75,000 | $23,225 |
| Over $75,000 | $33,193 |
Remember these are net prices — what families pay after gift aid, not before.
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 | $25,239 |
| Off-campus title-IV students | $30,033 |
To project your own net price, use Saint Michael’s’s net price calculator: www.smcvt.edu/admission-aid/financial-aid/net-price-calculator/.
A typical borrower at Saint Michael’s leaves with $21,500 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $21,500 |
| Median federal debt (graduates only) | $26,922 |
| Typical 10-year monthly payment (graduates) | $285.42/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
The median alone does not show how widely outcomes vary across the student body. Use the percentiles below to see the debt range at Saint Michael’s.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $12,000 |
| 75th percentile | $30,000 |
| 90th percentile (highest-debt students) | $32,000 |
Median debt varies by family income, by first-generation status, and by dependency status.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $19,500 |
| Middle income | $21,500 |
| High income | $23,000 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $21,500 |
| Continuing-generation students | $21,500 |
These indicators are derived from the underlying debt data and summarize the overall picture at Saint Michael’s.
Stafford loans make up the bulk of federal direct lending to undergraduates. The annual Stafford volume below reflects program activity at Saint Michael’s:
| Metric | Value |
|---|---|
| Stafford loan recipients | 5839 |
| Total Stafford loan amount | $97,433,239 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 14 |
| Total GI Bill amount | $384,505 |
| Average GI Bill amount per recipient | $27,465 |
References
More about our data sources and methodologies.