by our College Data Analytics TeamMost students won’t pay the advertised price of a school. Instead, they will be provided with a financial aid plan that includes a mix of scholarships, grants, loans, and work-study. But some kinds of aid are more desirable than others, and some students will get more than others.
Curious about the financial aid opportunities at MCHP and what you may be eligible for? Explore the answers here.
$6,745.00 is the typical Maine College of Health Professions’s first year financial aid package. A significant 60% of freshmen benefit from financial aid, with the main type being 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.
Uneasy about the debt that may be included in your financial aid plan? Find the average amount of debt per student at Maine College of Health Professions.
Financial awards given by a college or university to its students, known as institutional scholarships and grants, help to offset the cost of tuition and other education-related expenses. These awards fall into two categories: merit-based and need-based, and they do not need to be paid back. Merit-based institutional scholarships are granted to students who have shown outstanding academic accomplishments, special talents, or abilities in a particular field. Factors such as high school performance, standardized test results, or involvement in extracurricular activities often contribute to these scholarship decisions. Conversely, need-based institutional grants cater to students who demonstrate financial need. The awarded amount is typically based on the student’s family’s financial standing and is intended to cover the difference between the cost of attendance and the family’s ability to contribute. Colleges and universities might use data from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms to determine a student’s eligibility for need-based grants. Institutional scholarships and grants are a vital source of financial support for students, as they can significantly reduce the cost of attending college and help make higher education more accessible.
The following numbers apply to scholarships and grants largely offered by the school itself.
10% of first-year students (1 total) were offered scholarships at Maine College of Health Professions, averaging $5,000.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 20% of freshmen (2 total) obtained a federal grant, for about $3,495.00 a piece.
The table following demonstrates grant and scholarship distributions by income level for freshmen getting any sort of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 0.00% | $0.00 |
| Income 30k-48k | 10.00% | $7,345.00 |
| Income 48k-75k | 0.00% | $0.00 |
| Income 75k-110k | 10.00% | $3,073.00 |
| Income 110k + | 0.00% | $0.00 |
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 10 undergraduate students at Maine College of Health Professions around 60% (2 total) receive some form of grant aid. The typical amount awarded was $6,745.00.The bulk of which are Pell Grants.
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.