by our College Data Analytics TeamMost college students will not be charged the full price tag of a school. Instead, they will be offered a financial aid package that includes a combination of loans, grants, scholarships and possibly work-study opportunities.
Curious about the financial aid opportunities at Penn State University Park and what you may be eligible for? Explore the answers here.
Pennsylvania State University - University Park average financial aid offer for freshmen students is $8,163.00. A significant 75% of freshmen benefit from financial aid, with the main type being loans.
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.
Concerned about the loans that may be included in your financial aid package? See the average amount of debt per student at Pennsylvania State University - University Park.
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 listed below make reference to help that is offered by Pennsylvania State University - University Park.
43% of new students (6709 total) were offered scholarships at Pennsylvania State University - University Park, averaging $6,332.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 45% of freshmen (7070 total) obtained a federal grant, for about $3,637.00 a piece.
The next table shows grant and scholarship distributions by income for first-year students getting any form of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 7.74% | $13,569.00 |
| Income 30k-48k | 5.02% | $12,261.00 |
| Income 48k-75k | 6.07% | $7,950.00 |
| Income 75k-110k | 5.07% | $3,857.00 |
| Income 110k + | 5.72% | $1,767.00 |
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.
Of the 15744 undergraduate students at Pennsylvania State University - University Park around 75% (9443 total) receive some form of grant aid. The typical amount awarded was $8,163.00.
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.