by our College Data Analytics TeamFinancial aid in the form of loans, grants, work-study, and scholarships is one way colleges reduce the cost of attendance so most students can actually afford to attend.
The amount of financial assistance and scholarships or grants you can get varies based on your circumstances. Keep reading to learn more to help you to know just how much aid and scholarships to expect from Harvey Mudd College.
$42,347.00 is the typical Harvey Mudd College’s first year financial aid package. Financial aid is provided to about 71% of first-year students, with the bulk of support coming in the form of grants and scholarships.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
A student loan isn’t a genuine college price reduction, but rather an additional cost consideration. Discover how much student loan debt from Harvey Mudd College you could end up dealing with.
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 stats below refer to aid that is provided by Harvey Mudd College.
62% of first-year students (139 total) were offered scholarships at Harvey Mudd College, averaging $40,074.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 14% of first-year students (31 total) got federal grant aid, averaging $6,284.00 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 | 6.70% | $64,047.00 |
| Income 30k-48k | 4.91% | $58,710.00 |
| Income 48k-75k | 5.36% | $61,462.00 |
| Income 75k-110k | 6.70% | $54,219.00 |
| Income 110k + | 16.07% | $28,620.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
Of the 224 undergraduate students at Harvey Mudd College around 71% (140 total) receive some form of grant aid. The typical amount awarded was $42,347.00.
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.