by our College Data Analytics TeamMany students attending Alma College can expect to receive financial assistance in various forms, such as scholarships, grants, loans, and work-study programs, making the cost of attendance more manageable.
What financial aid options does Alma offer, and what will you qualify for? Keep scrolling for answers.
$32,045.00 is the typical Alma College’s first year financial aid package. 100% of first-year students are awarded financial aid, primarily comprising grants and scholarships.
Financial aid helps reduce the cost, or the full retail price of the college. However, be aware that the only true college discount is scholarships & grants.
Student debt should be thought of as an “outcome” rather than “aid”. Read more about student loan debt at Alma College.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The stats below refer to aid that is provided by Alma College.
100% of incoming freshmen (384 total) were given scholarships at Alma College, averaging $29,171.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 29% of first-year students (113 total) got federal grant aid, averaging $4,944.00 per person.
The table below shows grant and scholarship distributions by income for first-year students getting any sort of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 10.94% | $35,996.00 |
| Income 30k-48k | 8.85% | $37,097.00 |
| Income 48k-75k | 12.24% | $33,526.00 |
| Income 75k-110k | 16.67% | $32,847.00 |
| Income 110k + | 33.07% | $29,464.00 |
The table above displays students who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Get more info on Title IV here.
Of the 384 undergraduate students at Alma College around 100% (384 total) receive some form of grant aid. The typical amount awarded was $32,045.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.