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.
Discover the financial aid possibilities at Northern Michigan University and learn what assistance you might qualify for by continuing to read.
Northern Michigan University average financial aid offer for freshmen students is $7,947.00. About 95% of first year students receive financial aid, most of which is in the form of grants and scholarships.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
A loan is not a legitimate college discount, but rather an outcome to consider. See how much student loan debt from Northern Michigan University 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.
72% of incoming freshmen (1141 total) were given scholarships at Northern Michigan University, averaging $5,498.00 per student. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 37% of first-year students (586 total) got a federal grant, for about $5,114.00 per person.
The next table demonstrates grant and scholarship distributions by income level for freshmen getting any form of federally-funded Title IV aid, which includes Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 13.53% | $14,620.00 |
| Income 30k-48k | 9.06% | $13,005.00 |
| Income 48k-75k | 9.19% | $7,561.00 |
| Income 75k-110k | 8.18% | $3,894.00 |
| Income 110k + | 7.55% | $1,934.00 |
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.
95% of the 1589 undergraduates at Northern Michigan University receive some sort of grant aid. This is a total of about 1332 students getting an average of $7,947.00 per person.
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.