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.
Discover the financial aid possibilities at Otterbein and learn what assistance you might qualify for by continuing to read.
Otterbein University average financial aid offer for freshmen students is $22,481.00. 100% of first-year students are awarded financial aid, primarily comprising 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.
Worried about the student loans that might be part of a financing offer? View the average amount of debt per student at Otterbein University.
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 numbers below apply to scholarships and grants primarily provided by Otterbein University.
100% of first-year students (623 total) were offered scholarships at Otterbein University, averaging $19,832.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 40% of first-year students (249 total) got a federal grant, for about $5,667.00 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 | 16.69% | $29,026.00 |
| Income 30k-48k | 8.83% | $29,598.00 |
| Income 48k-75k | 13.16% | $24,201.00 |
| Income 75k-110k | 17.17% | $20,814.00 |
| Income 110k + | 37.72% | $19,097.00 |
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.
623 Otterbein undergrads obtain grant aid (this is about 100% of the entire undergraduate student population). The average amount these students receive is $22,481.00.
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.