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.
Curious about the financial aid opportunities at Smith and what you may be eligible for? Explore the answers here.
$46,747.00 is the typical Smith College’s first year financial aid package. About 78% 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.
Student debt should be thought of as an “outcome” rather than “aid”. Read more about student loan debt at Smith College.
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.
67% of new students (423 total) were offered scholarships at Smith College, averaging $45,208.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 54% of freshmen (339 total) obtained a federal grant, for about $2,921.00 a piece.
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 | 6.64% | $65,954.00 |
| Income 30k-48k | 5.85% | $65,497.00 |
| Income 48k-75k | 6.79% | $58,742.00 |
| Income 75k-110k | 9.00% | $53,421.00 |
| Income 110k + | 19.59% | $28,296.00 |
The table above displays undergrads who are obtaining Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
425 Smith undergrads obtain grant aid (this is about 78% of the entire undergraduate student population). The average amount these students receive is $46,747.00.
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.