by our College Data Analytics TeamRather than paying the full sticker price for a college education, most students receive a financial aid package that eases the burden with scholarships, grants, loans, and work-study options, while the amount and type of aid may vary among students.
Discover the financial aid possibilities at Wayne State and learn what assistance you might qualify for by continuing to read.
$9,561.00 is the typical Wayne State University’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.
A student loan isn’t a genuine college price reduction, but rather an additional cost consideration. Discover how much student loan debt from Wayne State University 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.
94% of first-year students (2687 total) were offered scholarships at Wayne State University, averaging $6,735.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 57% of first years (1648 total) were awarded federal grant aid, averaging $5,475.00 each.
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 | 25.37% | $13,481.00 |
| Income 30k-48k | 11.42% | $13,127.00 |
| Income 48k-75k | 12.04% | $10,929.00 |
| Income 75k-110k | 7.69% | $6,727.00 |
| Income 110k + | 12.46% | $4,745.00 |
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.
Of the 2873 undergraduate students at Wayne State University around 98% (2782 total) receive some form of grant aid. The typical amount awarded was $9,561.00.
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.