by our College Data Analytics TeamThe majority of college students don’t pay the full price for their education, as financial aid packages, including scholarships, grants, loans, and work-study opportunities, help to offset the costs.
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.
Murray State University average financial aid offer for freshmen students is $9,494.00. Approximately 99% of incoming freshmen obtain financial assistance, with the majority being offered as 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.
A college loan is not a true college discount, but rather an outcome to consider. Find out how much student loan debt from Murray State University you may end up taking on.
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 following numbers apply to scholarships and grants largely offered by the school itself.
91% of new students (1284 total) were offered scholarships at Murray State University, averaging $8,575.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 38% of first-year students (542 total) got a federal grant, for about $5,994.00 per person.
The table following demonstrates grant and scholarship distributions by income level for freshmen getting any sort of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 13.38% | $12,010.00 |
| Income 30k-48k | 6.58% | $11,829.00 |
| Income 48k-75k | 9.62% | $10,105.00 |
| Income 75k-110k | 8.85% | $6,668.00 |
| Income 110k + | 6.94% | $5,840.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
1399 Murray State undergrads obtain grant aid (this is about 99% of the entire undergraduate student population). The average amount these students receive is $9,494.00.
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.