Lana Oconnell
St. Ambrose University offers a variety of financial aid options to its students, including federal loans, grants, work-study programs, and scholarships. The university's tuition fees for undergraduate programs range from $35,318 to $35,598, which is more affordable than the national average. In 2023, 95% of undergraduate students at St. Ambrose University received financial aid, with 93% of all students taking out federal loans. The average annual federal loan amount is $5,901, which is lower than the average for private not-for-profit schools. The university's high percentage of students receiving financial aid indicates that it may cater to lower-income students or have a strong financial aid program.
| Characteristics | Values |
|---|---|
| Percentage of students taking federal loans | 93% |
| Average annual federal loan amount | $5901 |
| Average net price | $23,578 |
| Percentage of undergraduate students receiving financial aid through loans | 67% |
| Percentage of undergraduate students receiving financial aid in 2022 | 95% |
| Total enrollment in 2023 | 2703 |
| Full-time enrollment | 2381 |
| Part-time enrollment | 322 |
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What You'll Learn
93% of students take federal loans
At St. Ambrose University, 93% of all students take out federal loans. This is a significantly high number and could indicate that the school's financial aid program is not robust enough. While federal loans are preferable to private loans due to their lower interest rates and potential perks like loan forgiveness, a high percentage of students with federal loans may indicate that students are burdened with too much debt.
The average annual federal loan amount for St. Ambrose University students is $5901, which is $176 less than the average for private not-for-profit schools. This lower amount could be a positive indicator of the university's financial aid program. However, it is important to note that the cost of tuition at St. Ambrose University is $35,318, which is higher than the national average. The median federal loan debt among borrowers who complete their undergraduate degrees at St. Ambrose University is $25,000, resulting in a median monthly federal loan payment of $265 if repaid over 10 years at 5.05% interest.
Compared to other schools, St. Ambrose University has a higher percentage of students receiving financial aid. In 2022, 95% of undergraduate students received financial aid, and in 2023, 67% of undergraduate students received financial aid through loans. This suggests that the university may attract a higher proportion of lower-income students. The university's tuition fees are also lower than the national average, which could be a factor in the high number of students requiring financial aid.
The university's financial aid program includes federal loans, grants, work-study programs, and scholarships. Students can apply for financial aid by filling out a Free Application for Federal Student Aid (FAFSA). The university also offers the Federal Work-Study (FWS) Program, which provides part-time employment opportunities for eligible students to earn money for their education expenses. St. Ambrose University's high percentage of students taking out federal loans could be a cause for concern, indicating a potential financial burden for its students. However, the university's lower tuition fees and the availability of financial aid may help offset this burden.
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Average federal loan: $5901
St. Ambrose University's tuition fees are $35,598, which is lower than the national average cost of tuition of $47,890. The average net price of St. Ambrose University after factoring in grants and loans is $23,578. The university received 3,456 undergraduate applications in 2023, with 2,534 students accepted for enrollment, representing a 73.3% acceptance rate. The total enrollment at St. Ambrose University in 2023 was 2,703 students, with 2,381 full-time students and 322 part-time students.
Regarding financial aid, 93% of St. Ambrose University students take out federal loans, with an average annual federal loan amount of $5901. This is $176 less than the average for private not-for-profit schools, which is $6077. Federal loans tend to have lower interest rates and may offer perks such as subsidization or loan forgiveness. In contrast, only 18% of students at St. Ambrose University take out private loans, which have higher interest rates and cost more in the long run. The median federal loan debt among borrowers who completed their undergraduate degrees at St. Ambrose University is $25,000. The median monthly federal loan payment, if repaid over 10 years at 5.05% interest, is $265.
Federal aid includes grants, work-study programs, and loans. The U.S. government offers grant and loan programs to support tuition and fees, covering essentials like textbooks and living expenses. Grants are typically repayment-free, while loans require repayment. The Federal Pell Grant is a need-based grant provided by the U.S. Department of Education to help eligible undergraduate students pursue higher education. The FSEOG (Federal Supplemental Educational Opportunity Grant) is another federal grant that provides additional financial assistance to undergraduate students with exceptional financial need. Eligibility for federal grants and loans is determined by factors such as financial need, enrollment status, and cost of attendance.
In summary, while St. Ambrose University's tuition fees are lower than the national average, the majority of its students rely on federal loans to finance their education. The average federal loan amount of $5901 is slightly lower than the average for private not-for-profit schools. Federal loans are preferable due to their lower interest rates and potential benefits, but high amounts of debt can still be a burden for students.
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67% get financial aid through loans
Financial aid is an essential aspect of pursuing higher education, and at St. Ambrose University, a significant number of students rely on loans to fund their studies. In this regard, it is notable that 67% of undergraduate students at St. Ambrose University received financial aid through loans. This percentage translates into a substantial number of students, considering the university's total enrollment of 2,703 students in 2023, with 2,381 full-time students and 322 part-time students.
The reliance on loans among St. Ambrose University students underscores the importance of understanding the different types of loans available. Federal loans, provided by the government, are generally considered more favourable than private loans due to their lower interest rates and potential perks such as subsidization or loan forgiveness options. The university's average annual federal loan amount is $5901, which is lower than the average for private not-for-profit schools. This lower amount suggests that St. Ambrose University may be more affordable than comparable institutions in terms of student loan burdens.
However, it is worth noting that St. Ambrose University's tuition fees are still substantial, amounting to $35,318 in 2023. While this is lower than the national average cost of tuition of $47,890, it still represents a significant expense for students. The university's average net price, which factors in grants and loans, was $23,578 in 2023, reflecting the impact of financial aid in reducing the overall cost for students.
The availability of federal loans is a crucial aspect of financial aid for St. Ambrose University students. Notably, 93% of all students at the university take out federal loans, indicating a high demand for this form of financial assistance. Federal loan programs, such as the Federal Grad PLUS Loans and the Ford Federal Direct Loan Program, offer support for undergraduate and graduate students, respectively. These programs are designed to assist students in covering educational costs, with eligibility determined by factors such as credit history or financial need.
In addition to federal loans, students at St. Ambrose University can also access other forms of financial aid, including grants, scholarships, work-study programs, and institutional aid. The Federal Pell Grant, for example, is a need-based grant provided by the U.S. Department of Education, offering repayment-free funds to eligible undergraduate students. The university also offers its own financial aid through donated funds allocated by the Financial Aid & Awards Coordinator based on eligibility criteria. These additional sources of financial support provide alternatives to loans and can help reduce the overall financial burden on students.
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2023 tuition: $35,318
St. Ambrose University's 2023 Tuition Fees
St. Ambrose University's tuition fees for 2023 are $35,318. This figure is lower than the national average cost of tuition of $47,890. It is also lower than the average tuition fees of $58,628 at private, nonprofit universities.
Additional Costs
Tuition fees do not include additional costs such as food, housing, books, supplies, transportation, and personal expenses. These additional costs can significantly increase the total cost of attendance.
Financial Aid
Financial aid is available for students at St. Ambrose University to help with the cost of tuition and fees. This aid can come in the form of government grants, work-study programs, and loans.
Federal Loans
Federal loans are a common form of financial aid, as they tend to have low-interest rates and other perks such as subsidization and loan forgiveness options. At St. Ambrose University, 93% of students take out federal loans, with a median federal loan debt of $25,000 among undergraduate borrowers.
Institutional Aid
Institutional aid is financial aid that comes directly from the university itself. At St. Ambrose University, a higher percentage of students receive financial aid compared to other private not-for-profit schools, which may indicate that the university provides generous financial support to its students.
Scholarships
Scholarships are another form of financial aid that does not need to be paid back. Both need-based and merit-based scholarships are available, with the latter awarded for academic, athletic, or other achievements.
Work-Study Programs
Work-study programs, such as the Federal Work-Study (FWS) Program, provide part-time employment opportunities for students to earn money to help cover their educational expenses.
Grants
Grants, such as the Federal Pell Grant and the Federal Supplemental Educational Opportunity Grant (FSEOG), are need-based financial aid that does not require repayment. Grants are typically awarded to students with exceptional financial need.
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73.3% acceptance rate
In 2023, St. Ambrose University received 3,456 undergraduate applications, out of which 2,534 students were accepted, representing a 73.3% acceptance rate. The total enrollment at St. Ambrose University in 2023 was 2,703 students, with 2,381 full-time students and 322 part-time students. The university's retention rate for full-time undergraduates was 84%, higher than its peer institutions.
St. Ambrose University's tuition fees for 2023 were $35,318, with an average net price of $23,578 after factoring in grants and loans. The university is cheaper compared to the national average cost of tuition of $47,890. The median federal loan debt among undergraduate borrowers is $25,000, with an average annual federal loan amount of $5,901. 93% of students take out federal loans, while 18% take out private loans.
Financial aid at St. Ambrose University includes federal and state grants, work-study programs, and loans. The university's financial aid program aims to provide support to students with financial needs. The Federal Pell Grant, for example, is a need-based grant provided by the U.S. Department of Education to help eligible undergraduate students pursue their education. The Federal Supplemental Educational Opportunity Grant (FSEOG) is another need-based grant for undergraduate students with exceptional financial need.
The university also offers merit-based scholarships to students with academic or athletic achievements. Additionally, students may qualify for scholarships based on community service involvement, unique hobbies or traits, personal background, or family affiliations. These scholarships can help cover tuition and living expenses.
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Frequently asked questions
93% of students at St. Ambrose University take out federal loans.
The median federal loan debt among St. Ambrose University graduates is $25,000.
The average annual federal loan amount for St. Ambrose University students is $5901.
Students can apply for federal financial aid by filling out a Free Application for Federal Student Aid (FAFSA) using St. Ambrose's school code: 001889.
