by our College Data Analytics TeamMany students will not be asked to pay the complete price tag of a school. Rather, they are presented a financial aid deal that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The price tag of going to University of Rochester can appear tremendous, but do not forget that almost all students obtain some kind of financial help.
What financial assistance options will University of Rochester offer, and what will you qualify for? Read on for more information. Keep reading to find out 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. Continue reading to find information to help you understand just how much assistance you can expect to receive from University of Rochester.
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.
For incoming first-year students at University of Rochester, 74% of first-year full-time students received aid of some kind roughly 1145 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 72% | $45,500 |
| Institutional grants & scholarships | 70% | $44,445 |
| Federal Pell grants | 20% | $6,110 |
| State/local grants | 15% | $3,297 |
| Federal student loans | 35% | $4,170 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At University of Rochester, around 67% of undergraduates were awarded an average grant or scholarship of $42,046 (among about 4553 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 67% | $42,046 |
| Federal Pell grants | 17% | $6,044 |
| Federal student loans | 40% | $4,237 |
On-campus students receiving title-IV aid were awarded grants averaging $56,684.
Because need-based aid scales with family income, what students actually pay differs sharply across income brackets.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $14,761 |
| $30,001 – $75,000 | $18,615 |
| Over $75,000 | $43,519 |
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 | $29,278 |
| Off-campus title-IV students | $30,248 |
To project your own net price, use University of Rochester’s NPC: www.rochester.edu/financial-aid/cost-calculators/#college-board.
A typical borrower at University of Rochester leaves with $19,000 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $19,000 |
| Median federal debt (graduates only) | $21,000 |
| Typical 10-year monthly payment (graduates) | $222.63/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
Looking only at the median can be misleading because it hides the spread. The figures below chart the debt distribution at University of Rochester.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $5,500 |
| 25th percentile | $12,500 |
| 75th percentile | $27,000 |
| 90th percentile (highest-debt students) | $31,500 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $18,750 |
| Middle income | $19,000 |
| High income | $19,000 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $19,000 |
| Continuing-generation students | $19,000 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $19,000 |
| Independent students | $16,091 |
The figure below distills the debt data into a single burden category for University of Rochester.
Stafford loans make up the bulk of federal direct lending to undergraduates. The aggregate figures below show how active the program is at University of Rochester:
| Metric | Value |
|---|---|
| Stafford loan recipients | 20988 |
| Total Stafford loan amount | $607,427,563 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 62 |
| Total GI Bill amount | $1,988,538 |
| Average GI Bill amount per recipient | $32,073 |
References
More about our data sources and methodologies.