$4,701

Avg. Federal Grant

$5,841

Avg. Federal Loan

$38,250,365

Total Aid Awarded

Alma College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

97%

Total Aid Amount Average Total Aid Awarded per year.

$38.250M

Financial Aid Official Website

alma.edu/admissions/financial-aid/

Among them are scholarship programs such as Achievement Award, Alma College - National Merit Scholarship, Alumni Scholarship, and Art and Helen Nickless Scholarship. Interestingly, almost all of the students at AC receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $7,231,280 in a year. Notably, a total of 35% of the applicants to Alma College receive the Federal Grant every year. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 34% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,075, while the same comes to $2,328 for State Grant receivers and $27,679 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,645. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At AC, an estimated number of 78% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

34%

State Grant Aid

64%

Institution Grant Aid

100%

Pell Grant

34%

Average Aid Awarded

Federal Grant Aid

$4,701

State Grant Aid

$1,949

Institution Grant Aid

$26,578

Pell Grant

$4,552

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$34,060

$30,001 - $48,000

$34,170

$48,001 - $75,000

$32,541

$75,001 - $110,000

$29,395

Over $110,000

$26,021

Student Loans for Alma College

Average Loan Amount Average Loan Amount received per year.

$9,614/Year

Students Taking Out Loans

77%

Loan Default Rate

5%

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