How Many Students Receive Financial Aid?
Southwest Minnesota State University's average financial aid plan for newly arriving first year students is $12,483. Approximately 80.0% of first year students receive some money for college, the majority of which is loans.
Loans are a part of financial aid packages, however the only true discount off of the expense of college is a grant or scholarship that you don't have to repay.
A college loan is not a legitimate college discount, but rather an additional cost consideration. Discover how much student loan debt from Southwest Minnesota State University you may end up taking on.
How Much Aid Is Available in Scholarships & Grants?
The following scholarships and grants are made up of primarily federally provided grants, plus some state and local awards. 38.0% of first years at Southwest Minnesota State University (182 total) were awarded a federal grant, averaging $4,382. As well as grants, 64.0% of first years (306 total) got scholarships by the university, totaling $1,904 per student.
Check out the typical quantity of grants and scholarships first years get by checking out the graph below.
Scholarships are merit-based, while grants are need based.
Amount of Aid Per Family Income
The following table displays grant and scholarship allocations by income level for freshman students getting any sort of federal Title IV assistance, such as Federal PLUS loans.
|Income Level||Percent of Freshman||Average Assistance|
|Income 110k +||10.4%||$1,286|
Financial assistance by the government available as loans, grants, and work-study is referred to as Title IV aid. Get more info on Title IV here..
The Typical Undergraduate Who Gets a Scholarship or Grant Will Get $5,027
Of the 7,007 undergrads at Southwest Minnesota State University around 25.0% (1,730 in total) obtain some form of grant aid. The standard number granted was $5,027.
Financial Aid Links from Southwest Minnesota State University
|Financial Aid Department Website||www.smsu.edu/CampusLife/FinancialAid|
|Net Price Calculator||www.mnscu.edu/admissions/calculator/southwestmsu.html|