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 PAFA and learn what assistance you might qualify for by continuing to read.
Pennsylvania Academy of the Fine Arts average financial aid offer for freshmen students is $22,809.00. 100% of first-year students are awarded financial aid, primarily comprising grants and scholarships.
Loans are a part of financial aid plans, but the only true college discount is a scholarship or grant that you don’t have to repay.
We feel that loan debt ought to be regarded as a consequence instead of true financial aid. Learn more on student loan debt at Pennsylvania Academy of the Fine Arts.
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 next numbers refer to grants and scholarships mainly supplied by the college itself.
94% of incoming freshmen (29 total) were awarded scholarships at Pennsylvania Academy of the Fine Arts, averaging $22,096.00 a piece. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 35% of freshmen (11 total) received a federal grant, for about $4,716.00 a person.
Amount of Financial Assistance Per Income Level
The following table shows scholarship and grant allocations by income for first-year students receiving any form of federal Title IV assistance, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 12.90% | $28,513.00 |
| Income 30k-48k | 12.90% | $21,273.00 |
| Income 48k-75k | 12.90% | $14,803.00 |
| Income 75k-110k | 6.45% | $9,750.00 |
| Income 110k + | 25.81% | $18,563.00 |
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.
31 PAFA undergrads obtain grant aid (this is about 100% of the entire undergraduate student population). The average amount these students receive is $22,809.00.
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.