by our College Data Analytics TeamRather than paying the full sticker price for a college education, most students receive a financial aid package that eases the burden with scholarships, grants, loans, and work-study options, while the amount and type of aid may vary among students.
However, some types of financial aid are definitely more desireable than others, and some students will receive more aid than others.Find out more by scrolling down the page.
$16,442.00 is the typical Grace College and Theological Seminary’s first year financial aid package. 93% of first-year students are awarded financial aid, primarily comprising grants and scholarships.
Financial aid helps lower the cost, or the full retail price of the institution. But bear in mind that the only true college discount is scholarships & grants.
Concerned about the student loans that might be part of your financing deal? Look at the average amount of debt per student at Grace College and Theological Seminary.
Colleges and universities offer institutional scholarships and grants as financial assistance to help students cover tuition fees and other educational costs. These awards, which do not require repayment, can be merit-based or need-based. Merit-based institutional scholarships recognize students who have exceptional academic records, special talents, or skills in particular areas. Eligibility for these scholarships often depends on factors such as a student’s high school performance, standardized test scores, or involvement in extracurricular activities. In contrast, need-based institutional grants are designed for students who show financial need. The amount awarded usually depends on the student’s family’s financial condition and aims.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
90% of incoming freshmen (326 total) were awarded scholarships at Grace College and Theological Seminary, averaging $12,483.00 a piece. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 34% of first years (125 total) were awarded federal grant aid, averaging $4,675.00 each.
The next table displays grant and scholarship distributions by family income for freshman students getting any kind of federally-funded Title IV aid, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 8.54% | $23,056.00 |
| Income 30k-48k | 12.12% | $21,692.00 |
| Income 48k-75k | 16.25% | $17,998.00 |
| Income 75k-110k | 14.33% | $14,189.00 |
| Income 110k + | 17.36% | $10,934.00 |
The table above shows students who are receiving Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more.
93% of the 363 undergraduates at Grace College and Theological Seminary receive some sort of grant aid. This is a total of about 334 students getting an average of $16,442.00 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.