$4,901

Avg. Federal Grant

$3,878

Avg. Federal Loan

$18,843,817

Total Aid Awarded

Allan Hancock College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

60%

Total Aid Amount Average Total Aid Awarded per year.

$18.844M

Financial Aid Official Website

www.hancockcollege.edu/financial_aid/index.php

As many as 85% of the students at AHC get some sort of financial aid, and the total amount of assistance/loans provided is more than $785,633 in a year. More information regarding the financial assistance schemes can be accessed on AHC’s official financial aid page at http://www.hancockcollege.edu/financial_aid/index.php. Notably, a total of 49% of the applicants to Allan Hancock College receive the Federal Grant every year. On the other hand, 83% of the candidates get the Student Grant, while 49% receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,756, and the same stands at $1,945 for State Grant awardees and $502 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,856. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

52%

State Grant Aid

81%

Institution Grant Aid

1%

Pell Grant

52%

Average Aid Awarded

Federal Grant Aid

$4,901

State Grant Aid

$2,300

Institution Grant Aid

$431

Pell Grant

$4,840

As shown in the table the breakdown includes Federal Grants, Pell Grants, state grants, and institutional grants, with federal grants having the highest contribution of 52% with an average aid amount being $4,901.

  • Almost 52% of the students receive Pell Grants which add up to a normal of around $4,840.

  • Roughly 1% of the students are eligible for institutional awards at a normal of around $431.

  • 81% of the students get state awards which add up to a normal of around $2,300.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$8,382

$30,001 - $48,000

$7,897

$48,001 - $75,000

$5,499

$75,001 - $110,000

$3,278

Over $110,000

N/A

As shown in the table lower the family income higher is the amount of aid one can expect to receive. For a student who has a family income ranging from 0 to $30,000, the average federal aid provided is $8,382 whereas a student having a family income ranging from $30,001 to $48,000 the average federal aid is $7,897

The student who has a family income ranging from $48,001 to $75,000 the average federal aid provided is $5,499 whereas the student having an annual income ranging from $75,001 to $110,000 the average federal provided is around $3,278. And there is sufficient information available for the student who has an annual income range greater than $110,000 please refer to the official website for more details. This helps students who are coming from low-income homes to pay for their degrees.

Student Loans for Allan Hancock College

Average Loan Amount Average Loan Amount received per year.

$3,878/Year

Students Taking Out Loans

1%

Loan Default Rate

13.1%

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