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.
Mineral Area College average financial aid offer for freshmen students is $5,153.00. Approximately 96% of incoming freshmen obtain financial assistance, with the majority being offered as grants and scholarships.
Loans are a part of financial aid plans, but the only true college discount is a scholarship or grant that you don’t have to repay.
A student loan isn’t a genuine college price reduction, but rather an additional cost consideration. Discover how much student loan debt from Mineral Area College you could end up dealing with.
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 numbers below apply to scholarships and grants primarily provided by Mineral Area College.
16% of first-year students (92 total) were offered scholarships at Mineral Area College, averaging $4,452.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 60% of freshmen (347 total) received a federal grant, for about $4,944.00 a person.
Amount of Financial Assistance Per Income Level
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 33.57% | $6,402.00 |
| Income 30k-48k | 14.43% | $5,886.00 |
| Income 48k-75k | 11.65% | $3,916.00 |
| Income 75k-110k | 2.96% | $2,412.00 |
| Income 110k + | 1.22% | $2,493.00 |
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.
96% of the 575 undergraduates at Mineral Area College receive some sort of grant aid. This is a total of about 540 students getting an average of $5,153.00 per person.The largest share of which are in the guise of Pell Grants.
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.