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.
What amount of Lake Forest financial assistance will actually be available to you?Get answers to your questions here.
$35,465.00 is the typical Lake Forest College’s first year financial aid package. 99% of reshman students get financial aid, most of which is in the form of grants and scholarships
Financial aid helps decrease the expense, or the “sticker” price of the school. But keep in mind that the only real discounts off the cost of college are in the form of grants and scholarships.
A student loan isn’t a genuine college price reduction, but rather an additional cost consideration. Discover how much student loan debt from Lake Forest College you could end up dealing with.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
98% of new students (384 total) were given scholarships at Lake Forest College, averaging $31,860.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 36% of first-year students (142 total) got federal grant aid, averaging $7,714.00 per person.
Amount of Financial Assistance Per Income Level
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 15.60% | $46,472.00 |
| Income 30k-48k | 12.28% | $46,167.00 |
| Income 48k-75k | 10.74% | $43,087.00 |
| Income 75k-110k | 6.14% | $33,730.00 |
| Income 110k + | 35.04% | $31,498.00 |
The table above displays undergrads who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
Of the 391 undergraduate students at Lake Forest College around 99% (387 total) receive some form of grant aid. The typical amount awarded was $35,465.00.
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.