by our College Data Analytics TeamThe total cost of attendance at Monmouth 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.
Curious about the financial aid opportunities at Monmouth and what you may be eligible for? Explore the answers here.
Monmouth College average financial aid offer for freshmen students is $32,472.00. 100% of reshman students get financial aid, most of which is in the form of 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.
Worried about the student loans that might be part of a financing offer? View the average amount of debt per student at Monmouth College.
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 stats below refer to aid that is provided by Monmouth College.
100% of first-year students (255 total) were offered scholarships at Monmouth College, averaging $28,660.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 76% of freshmen (195 total) obtained a federal grant, for about $3,668.00 a piece.
Amount of Financial Assistance Per Income Level
The next table displays grant and scholarship distributions by family income for freshman students getting any kind of federally-funded Title IV aid, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 16.47% | $37,443.00 |
| Income 30k-48k | 10.20% | $36,736.00 |
| Income 48k-75k | 14.12% | $35,388.00 |
| Income 75k-110k | 15.29% | $31,900.00 |
| Income 110k + | 16.86% | $29,181.00 |
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.
255 Monmouth undergrads obtain grant aid (this is about 100% of the entire undergraduate student population). The average amount these students receive is $32,472.00.
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.