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.
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.
$10,967.00 is the typical Massachusetts Maritime Academy’s first year financial aid package. About 95% of first year students receive financial aid, most of which is in the form of 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.
Student debt really should be considered to be an added expense and not as “aid” or a “discount”. Find more about student loan debt at Massachusetts Maritime Academy.
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 numbers listed below make reference to help that is offered by Massachusetts Maritime Academy.
72% of new students (291 total) were given scholarships at Massachusetts Maritime Academy, averaging $11,640.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 18% of freshmen (74 total) received a federal grant, for about $5,050.00 a person.
The table below shows grant and scholarship distributions by income for first-year students getting any sort of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 3.71% | $22,223.00 |
| Income 30k-48k | 2.48% | $21,048.00 |
| Income 48k-75k | 7.18% | $16,503.00 |
| Income 75k-110k | 8.42% | $7,684.00 |
| Income 110k + | 25.00% | $3,767.00 |
The table above shows students who are receiving Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more.
95% of the 404 undergraduates at Massachusetts Maritime Academy receive some sort of grant aid. This is a total of about 291 students getting an average of $10,967.00 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.