by our College Data Analytics TeamA lot of students are not billed 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 price tag of going to Vernon College can appear overpowering, but remember that the majority of students obtain some kind of financial assistance.
What financial aid options can Vernon Regional Junior College offer, and what will you qualify for? Keep reading for more information. Keep going to learn how much school funding will be available to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Read on to get a sense of the financial assistance available at Vernon College.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. However, some types of aid are more desirable than others, and some students will receive more than others.
At Vernon College, 95% of entering full-time freshmen got some type of financial assistance roughly 225 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 94% | $8,398 |
| Institutional grants & scholarships | 68% | $3,041 |
| Federal Pell grants | 72% | $6,931 |
| State/local grants | 23% | $3,203 |
| Federal student loans | 41% | $4,679 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. Across the undergraduate body at Vernon Regional Junior College, approximately 69% of the undergraduate population received grant aid that averaged $6,287 (for some 1473 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 69% | $6,287 |
| Federal Pell grants | 42% | $7,101 |
| Federal student loans | 30% | $5,780 |
For on-campus title-IV students, average grant aid came to $8,160.
Since aid is largely need-based, the real cost of attendance falls steeply for lower-income families.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $4,802 |
| $30,001 – $75,000 | $6,806 |
| Over $75,000 | $12,082 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
Net price is the average annual cost after grants and scholarships are subtracted from the published cost of attendance — the figure closest to what a typical aid-receiving student actually pays.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $6,404 |
| Off-campus title-IV students | $6,571 |
For a personalized estimate based on your family’s financial situation, use Vernon Regional Junior College’s NPC: www.collegeforalltexans.com/apps/CollegeMoney/.
A typical borrower at Vernon Regional Junior College leaves with $7,000 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $7,000 |
| Median federal debt (graduates only) | $11,000 |
| Typical 10-year monthly payment (graduates) | $116.62/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
Looking only at the median can be misleading because it hides the spread. The figures below chart the debt distribution at Vernon Regional Junior College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,750 |
| 25th percentile | $3,360 |
| 75th percentile | $11,357 |
| 90th percentile (highest-debt students) | $20,091 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $7,136 |
| Middle income | $5,909 |
| High income | $7,672 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,975 |
| Continuing-generation students | $7,103 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $8,334 |
These indicators are derived from the underlying debt data and summarize the overall picture at Vernon Regional Junior College.
Stafford loans are the federal government’s primary direct undergraduate lending program. The aggregate figures below show how active the program is at Vernon Regional Junior College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 7972 |
| Total Stafford loan amount | $83,384,757 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 70 |
| Total GI Bill amount | $314,776 |
| Average GI Bill amount per recipient | $4,497 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 3 |
| Total DoD amount | $3,800 |
| Average DoD amount per recipient | $1,267 |
References
More about our data sources and methodologies.