by our College Data Analytics TeamThe majority of students are not billed 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 cost of going to Samuel Merritt University can seem tremendous, but do not forget that almost all students are given some form of financial help.
What financial aid options can Samuel Merritt University offer, and what will you qualify for? Keep reading for more information. Scroll down 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 Samuel Merritt University.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. At Samuel Merritt University, roughly 74% of undergraduate students received gift aid averaging $13,157 (for some 548 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 74% | $13,157 |
| Federal Pell grants | 18% | $4,410 |
| Federal student loans | 91% | $11,535 |
The median student at Samuel Merritt University graduates with $20,825 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $20,825 |
| Median federal debt (graduates only) | $20,825 |
| Typical 10-year monthly payment (graduates) | $220.78/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
The numbers below show the full range, not just the middle of the distribution. These percentiles trace how cumulative federal debt is spread among borrowers at Samuel Merritt University.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $9,500 |
| 25th percentile | $15,000 |
| 75th percentile | $20,949 |
| 90th percentile (highest-debt students) | $26,750 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $20,825 |
| Middle income | $20,825 |
| High income | $20,825 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $20,825 |
| Continuing-generation students | $20,825 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $15,651 |
| Independent students | $20,825 |
A handful of calculated indicators summarize the debt outlook at Samuel Merritt University.
The Stafford loan program is the largest source of federal direct loans to undergraduates. The annual Stafford volume below reflects program activity at Samuel Merritt University:
| Metric | Value |
|---|---|
| Stafford loan recipients | 7937 |
| Total Stafford loan amount | $426,498,822 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 8 |
| Total GI Bill amount | $221,728 |
| Average GI Bill amount per recipient | $27,716 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 1 |
| Total DoD amount | $4,500 |
| Average DoD amount per recipient | $4,500 |
References
More about our data sources and methodologies.