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.
What amount of Northwood financial assistance will actually be available to you?Get answers to your questions here.
Northwood University average financial aid offer for freshmen students is $20,736.00. About 99% of first year students receive financial aid, most of which is in the form of grants and scholarships.
Financial aid helps reduce the cost, or the full retail price of the college. However, be aware that the only true college discount is scholarships & grants.
A student loan isn’t a genuine college price reduction, but rather an additional cost consideration. Discover how much student loan debt from Northwood University you could end up dealing with.
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 numbers below apply to scholarships and grants primarily provided by Northwood University.
98% of incoming freshmen (274 total) were given scholarships at Northwood University, averaging $18,013.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 23% of freshmen (64 total) obtained a federal grant, for about $5,530.00 a piece.
Amount of Financial Assistance Per Income Level
The table below shows grant and scholarship distributions by income for first-year students getting any sort of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 11.07% | $26,694.00 |
| Income 30k-48k | 8.21% | $26,724.00 |
| Income 48k-75k | 12.50% | $22,424.00 |
| Income 75k-110k | 15.71% | $19,630.00 |
| Income 110k + | 42.86% | $17,994.00 |
The table above displays students who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Get more info on Title IV here.
275 Northwood undergrads obtain grant aid (this is about 99% of the entire undergraduate student population). The average amount these students receive is $20,736.00.
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.