$4,892

Avg. Federal Grant

$6,459

Avg. Federal Loan

$3,754,213

Total Aid Awarded

Cleary University Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

82%

Total Aid Amount Average Total Aid Awarded per year.

$3.754M

Financial Aid Official Website

www.cleary.edu/finaid/

Financial aid is a type of gift, grant, or benefit which is providing to the students who are in need of it. However, aid is also provided for the students on a non-need-based financial aid. So each and every student should apply for the financial aid whether the student is eligible or not as they will be considered as non-need-based. 

Cleary University, Howell, Michigan, about 82% of the students are receiving aids in one form or the other and the total aid amount received by the student's sums to $3,754,213. 

For receiving financial assistance at cleary university students need to fill out the FAFSA form and the FAFSA code of the university is 002246.

Types of Financial Aid provided by the university are:

Federal Grants

  • Pell Grant– A federal grant awarded to undergraduate students seeking a first bachelor's degree. The amount is based on need and the cost of attendance.

  • Supplemental Educational Opportunity Grant (SEOG) – Campus-based federal grant awarded to Pell-eligible students. 

State Grants

  • Michigan Tuition Grant (MTG) – Available to undergraduate students based on financial need for attendance at Michigan Independent Non-Profit colleges such as Cleary University.

  • Michigan Competitive Scholarship (MCS) – Available to undergraduate students based on need and SAT Score of at least 1200 starting with the class of 2017.

  • Tuition Incentive Program (TIP) – TIP provides assistance in two phases Phase I applied to standard in-district tuition and mandatory fees charged to eligible students enrolled in a credit-based associate degree program. Phase II provides a maximum of $2,000 for credits earned in a four-year program.

Student and Parent Loans

Low-interest loans for students and parents available to help pay for the cost of a student’s education.

  • Stafford (Direct) Loans – Subsidized based on need. The government pays the interest while the student is in school. Unsubsidized not-need-based. The student is responsible for interest payments.

  • Parent PLUS Loan – Loans available to parents of dependent students to help pay for educational expenses.

  • Grad PLUS Loan – Loan specifically for graduate students in need of additional loan funding for graduate school.

  • Private (Alternative) Loan – Educational loans available to help students cover additional educational expenses over and above what regular financial aid may not cover. Students should always apply for federal financial aid by filing the FAFSA form and take out low-interest loans first before considering alternative loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

40%

State Grant Aid

26%

Institution Grant Aid

83%

Pell Grant

40%

Average Aid Awarded

Federal Grant Aid

$4,892

State Grant Aid

$1,767

Institution Grant Aid

$10,305

Pell Grant

$4,723

With various types of financial aids, average federal, different students receive student aid in a different form depending upon the eligibility criteria and the need of the student. The percentage of a student receiving various types of aid and the average amount received is as follows:

  • Average Federal Grant aid is $4,892, with the percentage of students receiving it is 40%.

  • The average Pell Grant aid received by the student is $4,723 and the percentage of students receiving it is 40%.

  • About 26% of students receive State Grants that contribute to an average amount of $1,767.

  • Institution Grant average aid worth an average of $10,305 is received by 83% of students applying for it.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$12,012

$30,001 - $48,000

$13,750

$48,001 - $75,000

$14,500

$75,001 - $110,000

$13,250

Over $110,000

$11,750

Financial aid provided to the students also depends upon the family income as the family with less income needs more financial help as compared to the family who earns more.

Financial need is calculated by the formula Total cost of attendance - Estimated Family Contribution which gives the required financial need that the family needs.

The cleary university clarifies this by dividing the financial aid into the different income brackets which are as follows

Students with family incomes ranging between $0-30,000 receive a federal aid amount of $12,012. A slight increase is observed with the range starting from $30,001-48,000; the aid provided for it is $13,750.

For income within $48,001-75,000, the aid provided is $14,500. When the income range increases to $75,001 - $110,000, the aid amount increases to $13,250. When the range increases beyond $110,000, the aid amount gets reduced to $11,750.

Student Loans for Cleary University

Average Loan Amount Average Loan Amount received per year.

$9,736/Year

Students Taking Out Loans

69%

Loan Default Rate

9%

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