by our College Data Analytics TeamThe majority 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 sum total of attendance at University of Detroit Mercy can sound tremendous, but do not forget that almost all students get some type of financial help.
What financing options does Detroit Mercy offer, and what will you qualify for? Keep scrolling for more information. Read on to find out what amount of financial assistance will be accessible to you.
How much aid you qualify for depends largely on your family’s financial circumstances. The figures below will help you estimate the aid you might receive from University of Detroit Mercy.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Bear in mind that not all aid is equal, and the amount any one student receives can vary widely.
Looking at the entering class at University of Detroit Mercy, 100% of the incoming full-time class was awarded financial aid some 526 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $25,381 |
| Institutional grants & scholarships | 100% | $17,277 |
| Federal Pell grants | 49% | $6,072 |
| State/local grants | 66% | $6,383 |
| Federal student loans | 30% | $5,186 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. At Detroit Mercy, around 65% of the undergraduate population received grant aid that averaged $22,204 (covering around 2166 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 65% | $22,204 |
| Federal Pell grants | 26% | $5,767 |
| Federal student loans | 26% | $6,766 |
For students living on campus and receiving title-IV aid, grants averaged $26,979.
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 | $12,550 |
| $30,001 – $75,000 | $13,973 |
| Over $75,000 | $20,568 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
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 | $15,232 |
| Off-campus title-IV students | $16,179 |
For a personalized estimate based on your family’s financial situation, use Detroit Mercy’s net price calculator: www.udmercy.edu/admission/financial-aid/cost/netprice-calc.php.
Graduating students at Detroit Mercy carry a median federal student debt of $19,950 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $19,950 |
| Median federal debt (graduates only) | $23,250 |
| Typical 10-year monthly payment (graduates) | $246.49/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
Looking only at the median can be misleading because it hides the spread. Use the percentiles below to see the debt range at Detroit Mercy.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,000 |
| 25th percentile | $7,500 |
| 75th percentile | $31,000 |
| 90th percentile (highest-debt students) | $41,900 |
Median debt varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $21,931 |
| Middle income | $21,000 |
| High income | $19,000 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $20,610 |
| Continuing-generation students | $19,000 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $19,203 |
| Independent students | $25,000 |
The Department of Education computes summary indicators that describe debt outcomes at a glance. Detroit Mercy.
Most undergraduate borrowing runs through the federal Stafford loan program. Below is the annual Stafford program activity at Detroit Mercy:
| Metric | Value |
|---|---|
| Stafford loan recipients | 21626 |
| Total Stafford loan amount | $1,002,041,159 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 60 |
| Total GI Bill amount | $889,493 |
| Average GI Bill amount per recipient | $14,825 |
References
More about our data sources and methodologies.