by our College Data Analytics TeamMany students attending LIM College can expect to receive financial assistance in various forms, such as scholarships, grants, loans, and work-study programs, making the cost of attendance more manageable.
What amount of LIM financial assistance will actually be available to you?Get answers to your questions here.
LIM College average financial aid offer for freshmen students is $10,577.00. 94% of first-year students are awarded financial aid, primarily comprising loans.
Loans are included in the umbrella of ‘financial aid’, even so, the only true discount from the cost of college is a grant or scholarship that you don’t have 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 LIM 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 following numbers pertain to assistance that is supplied by LIM College.
94% of incoming freshmen (240 total) were given scholarships at LIM College, averaging $7,250.00 per student. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 48% of freshman students (121 total) obtained federal grant aid, averaging $5,507.00 a piece.
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 | 20.47% | $14,909.00 |
| Income 30k-48k | 11.42% | $13,627.00 |
| Income 48k-75k | 13.78% | $12,056.00 |
| Income 75k-110k | 11.81% | $10,052.00 |
| Income 110k + | 16.93% | $8,171.00 |
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.
240 LIM undergrads obtain grant aid (this is about 94% of the entire undergraduate student population). The average amount these students receive is $10,577.00.
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.