by our College Data Analytics TeamThe total cost of attendance at McPherson College can seem overwhelming, but remember that the majority of students receive some sort of financial assistance. This could be in the form of scholarships, grants, work-study, or loans.
Interested in understanding the financial aid resources available at McPherson College and your eligibility? Find the answers you seek below.
$20,255.00 is the typical McPherson College’s first year financial aid package. 100% of first-year students are awarded financial aid, primarily comprising grants and scholarships.
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.
Concerned about the student loans that might be part of your financing deal? Look at the average amount of debt per student at McPherson College.
Colleges and universities offer institutional scholarships and grants as financial assistance to help students cover tuition fees and other educational costs. These awards, which do not require repayment, can be merit-based or need-based. Merit-based institutional scholarships recognize students who have exceptional academic records, special talents, or skills in particular areas. Eligibility for these scholarships often depends on factors such as a student’s high school performance, standardized test scores, or involvement in extracurricular activities. In contrast, need-based institutional grants are designed for students who show financial need. The amount awarded usually depends on the student’s family’s financial condition and aims.
The numbers listed below make reference to help that is offered by McPherson College.
100% of incoming freshmen (225 total) were awarded scholarships at McPherson College, averaging $17,823.00 a piece. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 39% of first-year students (88 total) got federal grant aid, averaging $5,140.00 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 | 14.67% | $23,739.00 |
| Income 30k-48k | 14.67% | $24,375.00 |
| Income 48k-75k | 8.44% | $22,079.00 |
| Income 75k-110k | 14.67% | $20,914.00 |
| Income 110k + | 20.44% | $4,569.00 |
The table above displays undergrads who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
225 McPherson College undergrads obtain grant aid (this is about 100% of the entire undergraduate student population). The average amount these students receive is $20,255.00.
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.