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.
What amount of Hope financial assistance will actually be available to you?Get answers to your questions here.
$18,302.00 is the typical Hope College’s first year financial aid package. About 97% of first year students receive financial aid, most of which is in the form of grants and scholarships.
A financial aid package includes loans, grants, and scholarships. However, student loans have to be paid back, so they aren’t a true discount.
We feel that loan debt ought to be regarded as a consequence instead of true financial aid. Learn more on student loan debt at Hope 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 next numbers refer to grants and scholarships mainly supplied by the college itself.
95% of incoming freshmen (691 total) were given scholarships at Hope College, averaging $16,515.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 83% of freshmen (602 total) obtained a federal grant, for about $1,601.00 a piece.
The following table shows scholarship and grant allocations by income for first-year students receiving any form of federal Title IV assistance, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 7.59% | $31,054.00 |
| Income 30k-48k | 5.10% | $29,613.00 |
| Income 48k-75k | 8.69% | $25,938.00 |
| Income 75k-110k | 11.31% | $23,660.00 |
| Income 110k + | 24.55% | $14,791.00 |
The table above displays undergrads who are obtaining Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
702 Hope undergrads obtain grant aid (this is about 97% of the entire undergraduate student population). The average amount these students receive is $18,302.00.
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.