by our College Data Analytics TeamA large number of students will not be asked to pay the full sticker price of a school. Rather, they are offered a financial aid plan that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The price tag of going to Southern Nazarene University can appear overpowering, but remember that the majority of students obtain some kind of financial assistance.
What financial assistance options will SNU offer, and what will you qualify for? Read on for more information. Scroll down to learn just how much financial aid will be open to you.
Eligibility for aid and scholarships is driven mostly by your household’s income and need. Read on to get a sense of the financial assistance available at Southern Nazarene University.
Financial aid, in the form of loans, grants, work-study, and scholarships, is one way colleges reduce the cost of attendance so most students can actually afford to attend. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
For freshmen starting at Southern Nazarene University, 100% of new full-time first-years were awarded at least some aid some 346 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $23,175 |
| Institutional grants & scholarships | 100% | $18,106 |
| Federal Pell grants | 50% | $5,714 |
| State/local grants | 35% | $5,535 |
| Federal student loans | 62% | $5,193 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. Here, about 83% of undergrads got grants or scholarships worth on average $18,149 (for some 1300 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 83% | $18,149 |
| Federal Pell grants | 47% | $5,225 |
| Federal student loans | 60% | $7,109 |
For students living on campus and receiving title-IV aid, grants averaged $24,381.
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 | $15,309 |
| $30,001 – $75,000 | $17,126 |
| Over $75,000 | $23,850 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
Net price is the cost remaining after grant and scholarship aid is subtracted from the sticker price, and it is the most useful single number for estimating real cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $22,084 |
| Off-campus title-IV students | $17,838 |
To project your own net price, use SNU’s NPC: www.snu.edu/net-price-calculator.
Graduating students at SNU carry a median federal student debt of $17,337 in federal loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $17,337 |
| Median federal debt (graduates only) | $21,900 |
| Typical 10-year monthly payment (graduates) | $232.18/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
A single median figure conceals how much debt outcomes differ student to student. The four reference points below map the debt distribution at SNU.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,750 |
| 25th percentile | $8,733 |
| 75th percentile | $23,500 |
| 90th percentile (highest-debt students) | $31,190 |
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 | $18,750 |
| Middle income | $18,750 |
| High income | $15,125 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $17,188 |
| Continuing-generation students | $18,000 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $13,942 |
| Independent students | $18,750 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. SNU.
Stafford loans make up the bulk of federal direct lending to undergraduates. The totals below capture Stafford lending at SNU:
| Metric | Value |
|---|---|
| Stafford loan recipients | 12698 |
| Total Stafford loan amount | $295,251,071 |
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 | 75 |
| Total GI Bill amount | $601,266 |
| Average GI Bill amount per recipient | $8,017 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 20 |
| Total DoD amount | $55,209 |
| Average DoD amount per recipient | $2,760 |
References
More about our data sources and methodologies.