by our College Data Analytics TeamMost students won’t pay the advertised price of a school. Instead, they will be provided with a financial aid plan that includes a mix of scholarships, grants, loans, and work-study. But some kinds of aid are more desirable than others, and some students will get more than others.
What financial aid options does Spelman offer, and what will you qualify for? Keep scrolling for answers.
$10,235.00 is the typical Spelman College’s first year financial aid package. Financial aid is provided to about 98% of first-year students, with the bulk of support coming in the form of grants and scholarships.
A financial aid package includes loans, grants, and scholarships. However, student loans have to be paid back, so they aren’t a true discount.
Student debt really should be considered to be an added expense and not as “aid” or a “discount”. Find more about student loan debt at Spelman 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 listed below make reference to help that is offered by Spelman College.
58% of new students (298 total) were given scholarships at Spelman College, averaging $9,640.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 44% of first-year students (229 total) got a federal grant, for about $5,317.00 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 | 23.45% | $10,915.00 |
| Income 30k-48k | 12.79% | $11,069.00 |
| Income 48k-75k | 11.24% | $12,584.00 |
| Income 75k-110k | 14.34% | $8,900.00 |
| Income 110k + | 26.55% | $6,575.00 |
The table above shows students who are obtaining Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
98% of the 516 undergraduates at Spelman College receive some sort of grant aid. This is a total of about 464 students getting an average of $10,235.00 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.