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.
Discover the financial aid possibilities at Salem and learn what assistance you might qualify for by continuing to read.
Salem College average financial aid offer for freshmen students is $25,240.00. Financial aid is provided to about 99% of first-year students, with the bulk of support coming in the form of grants and scholarships.
Financial aid helps lower the cost, or the full retail price of the institution. But bear in mind that the only true college discount is scholarships & grants.
Worried about the student loans that might be part of a financing offer? View the average amount of debt per student at Salem College.
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 Salem College.
98% of new students (106 total) were given scholarships at Salem College, averaging $17,789.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 76% of first-year students (82 total) got federal grant aid, averaging $5,436.00 per person.
Amount of Financial Assistance Per Income Level
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 42.59% | $27,884.00 |
| Income 30k-48k | 20.37% | $27,002.00 |
| Income 48k-75k | 8.33% | $26,816.00 |
| Income 75k-110k | 8.33% | $19,198.00 |
| Income 110k + | 6.48% | $19,786.00 |
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.
99% of the 108 undergraduates at Salem College receive some sort of grant aid. This is a total of about 106 students getting an average of $25,240.00 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.