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.
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.
$19,087.00 is the typical Lees - McRae College’s first year financial aid package. 100% of first-year students are awarded financial aid, primarily comprising grants and scholarships.
Financial aid contains loans, grants, and scholarships. But college loans need to be repaid, thus they are not a real college discount.
Concerned about the loans that may be included in your financial aid package? See the average amount of debt per student at Lees - McRae 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 stats below refer to aid that is provided by Lees - McRae College.
100% of incoming freshmen (174 total) were given scholarships at Lees - McRae College, averaging $15,447.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 33% of first-year students (57 total) got federal grant aid, averaging $5,241.00 per person.
The next table shows grant and scholarship distributions by income for first-year students getting any form of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 16.67% | $24,698.00 |
| Income 30k-48k | 10.34% | $24,997.00 |
| Income 48k-75k | 14.37% | $21,782.00 |
| Income 75k-110k | 14.37% | $16,723.00 |
| Income 110k + | 18.97% | $14,631.00 |
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.
174 Lees - McRae College undergrads obtain grant aid (this is about 100% of the entire undergraduate student population). The average amount these students receive is $19,087.00.
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.