by our College Data Analytics TeamMost students won’t pay the advertised price of a school. Instead, they will be provided with a financial aid plan that includes a mix of scholarships, grants, loans, and work-study. But some kinds of aid are more desirable than others, and some students will get more than others.
What amount of LACM financial assistance will actually be available to you?Get answers to your questions here.
$7,126.00 is the typical Los Angeles College of Music’s first year financial aid package. A significant 62% of freshmen benefit from financial aid, with the main type being 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.
A student loan isn’t a genuine college price reduction, but rather an additional cost consideration. Discover how much student loan debt from Los Angeles College of Music you could end up dealing with.
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 following numbers pertain to assistance that is supplied by Los Angeles College of Music.
57% of new students (33 total) were offered scholarships at Los Angeles College of Music, averaging $5,011.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 57% of first-year students (33 total) got federal grant aid, averaging $6,081.00 per person.
The table below demonstrates scholarship and grant allocations by income level for freshmen receiving any type of federal Title IV assistance, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 15.52% | $10,667.00 |
| Income 30k-48k | 1.72% | $7,045.00 |
| Income 48k-75k | 1.72% | $5,245.00 |
| Income 75k-110k | 18.97% | $7,388.00 |
| Income 110k + | 18.97% | $4,145.00 |
The table above shows undergrads who are getting Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
62% of the 58 undergraduates at Los Angeles College of Music receive some sort of grant aid. This is a total of about 33 students getting an average of $7,126.00 per person.
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.