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.
Uncover the various financial aid options provided by St. Olaf and determine which ones you may be eligible for by continuing your exploration.
$35,042.00 is the typical St Olaf College’s first year financial aid package. 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.
A student loan isn’t a genuine college price reduction, but rather an additional cost consideration. Discover how much student loan debt from St Olaf College you could end up dealing with.
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.
99% of first-year students (797 total) were offered scholarships at St Olaf College, averaging $32,645.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 77% of first-year students (622 total) got a federal grant, for about $1,969.00 per person.
Amount of Financial Assistance Per Income Level
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 | 6.82% | $51,768.00 |
| Income 30k-48k | 5.83% | $51,742.00 |
| Income 48k-75k | 8.31% | $47,427.00 |
| Income 75k-110k | 11.79% | $41,546.00 |
| Income 110k + | 23.57% | $27,497.00 |
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.
799 St. Olaf undergrads obtain grant aid (this is about 99% of the entire undergraduate student population). The average amount these students receive is $35,042.00.
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.