by our College Data Analytics TeamThe majority of college students don’t pay the full price for their education, as financial aid packages, including scholarships, grants, loans, and work-study opportunities, help to offset the costs.
Discover the financial aid possibilities at Cornell and learn what assistance you might qualify for by continuing to read.
$47,664.00 is the typical Cornell University’s first year financial aid package. A significant 59% of freshmen benefit from financial aid, with the main type being grants and scholarships.
Loans are included in the umbrella of ‘financial aid’, even so, the only true discount from the cost of college is a grant or scholarship that you don’t have to pay back.
Worried about the student loans that might be part of a financing offer? View the average amount of debt per student at Cornell University.
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 next numbers refer to grants and scholarships mainly supplied by the college itself.
45% of incoming freshmen (1431 total) were given scholarships at Cornell University, averaging $46,168.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 16% of first years (506 total) were awarded federal grant aid, averaging $6,737.00 each.
The table below demonstrates scholarship and grant allocations by income level for freshmen receiving any type of federal Title IV assistance, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 3.01% | $69,960.00 |
| Income 30k-48k | 4.86% | $70,071.00 |
| Income 48k-75k | 5.33% | $65,419.00 |
| Income 75k-110k | 6.33% | $54,161.00 |
| Income 110k + | 20.57% | $22,317.00 |
The table above shows undergrads who are getting Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
59% of the 3189 undergraduates at Cornell University receive some sort of grant aid. This is a total of about 1489 students getting an average of $47,664.00 per person.
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.