by our College Data Analytics TeamA lot 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 price tag of going to Somerset Community College can appear tremendous, but do not forget that almost all students obtain some kind of financial help.
Just what financial aid solutions can SCC deliver, and just what are you going to be eligible for? Keep reading for answers. Keep reading to find out what amount of financial assistance will be accessible to you.
Eligibility for aid and scholarships is driven mostly by your household’s income and need. The figures below will help you estimate the aid you might receive from Somerset Community College.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
At Somerset Community College, 99% of entering full-time freshmen got some type of financial assistance roughly 769 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 98% | $7,662 |
| Institutional grants & scholarships | 21% | $2,938 |
| Federal Pell grants | 73% | $5,711 |
| State/local grants | 94% | $2,799 |
| Federal student loans | 22% | $4,408 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. At SCC, around 95% of undergraduate students received gift aid averaging $4,479 (among about 5450 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 95% | $4,479 |
| Federal Pell grants | 49% | $4,819 |
| Federal student loans | 20% | $5,473 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $8,561.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $3,268 |
| $30,001 – $75,000 | $4,538 |
| Over $75,000 | $8,747 |
Each figure is the net price after grants and scholarships, not the published sticker price.
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 | $4,398 |
| Off-campus title-IV students | $3,913 |
To project your own net price, use SCC’s official net price calculator: somerset.kctcs.edu/affording-college/net-price-calculator/index.aspx.
The median federal debt load at SCC comes to $8,000 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $8,000 |
| Median federal debt (graduates only) | $12,215 |
| Typical 10-year monthly payment (graduates) | $129.5/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 SCC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,919 |
| 25th percentile | $3,500 |
| 75th percentile | $15,750 |
| 90th percentile (highest-debt students) | $27,100 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $8,896 |
| Middle income | $6,984 |
| High income | $5,825 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $8,383 |
| Continuing-generation students | $5,346 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,600 |
| Independent students | $10,379 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. SCC.
Stafford loans make up the bulk of federal direct lending to undergraduates. The aggregate figures below show how active the program is at SCC:
| Metric | Value |
|---|---|
| Stafford loan recipients | 18188 |
| Total Stafford loan amount | $242,875,437 |
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 | 52 |
| Total GI Bill amount | $255,408 |
| Average GI Bill amount per recipient | $4,912 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 4 |
| Total DoD amount | $7,112 |
| Average DoD amount per recipient | $1,778 |
References
More about our data sources and methodologies.