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.
Discover the financial aid possibilities at Maria College of Albany and learn what assistance you might qualify for by continuing to read.
$7,138.00 is the typical Maria College of Albany’s first year financial aid package. A significant 100% of freshmen benefit from financial aid, with the main type being grants and scholarships.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
Concerned about the loans that may be included in your financial aid package? See the average amount of debt per student at Maria College of Albany.
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 next numbers refer to grants and scholarships mainly supplied by the college itself.
3% of new students (1 total) were offered scholarships at Maria College of Albany, averaging $3,800.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 62% of first years (18 total) were awarded federal grant aid, averaging $4,484.00 each.
The table shows scholarship and grant allocations by income for first-year students receiving any type of federal Title IV assistance, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 34.48% | $8,885.00 |
| Income 30k-48k | 20.69% | $7,191.00 |
| Income 48k-75k | 6.90% | $3,616.00 |
| Income 75k-110k | 0.00% | $0.00 |
| Income 110k + | 0.00% | $0.00 |
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.
Of the 29 undergraduate students at Maria College of Albany around 100% (20 total) receive some form of grant aid. The typical amount awarded was $7,138.00.Most of them are distributed as Pell Grants.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
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