by our College Data Analytics TeamA lot of students will never be charged 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 Simpson University can seem overwhelming, but bear in mind that many students are given some form of financial aid.
Just what financial assistance solutions will Simpson U deliver, and just what are you going to be eligible for? Read on for answers. Read on 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 Simpson University.
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.
For freshmen starting at Simpson University, 100% of first-year full-time students received aid of some kind roughly 145 new students).Type of Aid % of Freshmen Receiving Average Amount Grant or scholarship aid (all sources) 100% $25,937 Institutional grants & scholarships 100% $20,993 Federal Pell grants 41% $5,439 State/local grants 38% $6,883 Federal student loans 74% $5,491
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. Here, roughly 94% of the undergraduate population received grant aid that averaged $23,029 (across approximately 713 awardees).Award % of Undergrads Receiving Average Amount Grant or scholarship aid (all sources) 94% $23,029 Federal Pell grants 44% $5,221 Federal student loans 63% $7,598
For students living on campus and receiving title-IV aid, grants averaged $26,871.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.Family Income Average Net Price $0 – $48,000 $24,733 $30,001 – $75,000 $27,152 Over $75,000 $30,001
Each amount is the average cost remaining once grant aid is subtracted, by income band.
Net price is the average annual cost after grants and scholarships are subtracted from the published cost of attendance — the figure closest to what a typical aid-receiving student actually pays.Cohort Average Net Price On-campus title-IV students $27,817 Off-campus title-IV students $27,923
To project your own net price, use Simpson U’s net price tool: simpsonu.studentaidcalculator.com/survey.aspx.
A typical borrower at Simpson U leaves with $13,000 of federal borrowing.Metric Amount Median federal debt (all student-aid borrowers) $13,000 Median federal debt (graduates only) $18,750 Typical 10-year monthly payment (graduates) $198.78/mo
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. Use the percentiles below to see the debt range at Simpson U.Percentile Cumulative Federal Debt 10th percentile (lowest-debt students) $5,500 25th percentile $8,332 75th percentile $23,250 90th percentile (highest-debt students) $31,000
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
Median Debt by Income BracketIncome tier Median federal debt Low income $12,500 Middle income $14,000 High income $13,988
First-Generation ComparisonCohort Median federal debt First-generation students $14,000 Continuing-generation students $12,500
By Dependency StatusCohort Median federal debt Dependent students $12,899 Independent students $14,365
The Department of Education computes summary indicators that describe debt outcomes at a glance. Simpson U.
The Stafford program is the federal direct-loan vehicle most undergraduates use. These figures summarize annual Stafford program activity at Simpson U:Metric Value Stafford loan recipients 5516 Total Stafford loan amount $113,996,517
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill recipientsMetric Value GI Bill recipients 35 Total GI Bill amount $459,933 Average GI Bill amount per recipient $13,141
References
More about our data sources and methodologies.