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.
Discover the financial aid possibilities at McDaniel and learn what assistance you might qualify for by continuing to read.
$34,759.00 is the typical McDaniel College’s first year financial aid package. Approximately 100% of incoming freshmen obtain financial assistance, with the majority being offered as grants and scholarships.
Financial aid helps decrease the expense, or the “sticker” price of the school. But keep in mind that the only real discounts off the cost of college are in the form of grants and scholarships.
Concerned about the student loans that might be part of your financing deal? Look at the average amount of debt per student at McDaniel College.
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 apply to scholarships and grants largely offered by the school itself.
99% of incoming freshmen (562 total) were awarded scholarships at McDaniel College, averaging $32,577.00 a piece. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 38% of freshmen (218 total) received a federal grant, for about $983.00 a person.
The following table shows scholarship and grant allocations by income for first-year students receiving any form of federal Title IV assistance, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 15.96% | $38,415.00 |
| Income 30k-48k | 11.05% | $32,126.00 |
| Income 48k-75k | 7.72% | $57,909.00 |
| Income 75k-110k | 11.75% | $35,310.00 |
| Income 110k + | 25.44% | $30,554.00 |
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.
100% of the 570 undergraduates at McDaniel College receive some sort of grant aid. This is a total of about 564 students getting an average of $34,759.00 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.