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.
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.
$17,057.00 is the typical Montreat College’s first year financial aid package. Financial aid is provided to about 99% of first-year students, with the bulk of support coming 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.
A college loan is not a true college discount, but rather an outcome to consider. Find out how much student loan debt from Montreat College you may end up taking on.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The following numbers apply to scholarships and grants largely offered by the school itself.
98% of first-year students (167 total) were offered scholarships at Montreat College, averaging $13,526.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 82% of first-year students (141 total) got federal grant aid, averaging $2,928.00 per person.
Amount of Financial Assistance Per Income Level
The following table displays scholarship and grant allocations by family income for freshman students receiving any kind of federal Title IV assistance, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 15.79% | $20,321.00 |
| Income 30k-48k | 12.87% | $20,041.00 |
| Income 48k-75k | 16.96% | $18,743.00 |
| Income 75k-110k | 20.47% | $15,864.00 |
| Income 110k + | 26.32% | $13,914.00 |
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.
Of the 171 undergraduate students at Montreat College around 99% (168 total) receive some form of grant aid. The typical amount awarded was $17,057.00.
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.