$4,800

Avg. Federal Grant

$5,364

Avg. Federal Loan

$16,472,114

Total Aid Awarded

Amarillo College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

46%

Total Aid Amount Average Total Aid Awarded per year.

$16.472M

Financial Aid Official Website

https://www.actx.edu/fin/

Such schemes include Abe and Annie Seibel Foundation Loan, Association of Information Technology Professionals Scholarship, Benjamin Gimp Raffkind Memorial Scholarship, and Children of U.S. Military who are Missing in Action or Prisoners of War (MIA/POWs) Exemption. It is interesting to note that, every year, around 72% of students at AC receive some kind of financial aid, while the total amount of assistance/loans provided is $9,173,314. At AC, the total percentage of applicants who receive the Federal Grant stands at 59%. Meanwhile, 70% of the applicants receive the Student Grant and 18% are awarded the Institution Grant, while 59% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,524, while the same comes to $2,544 for State Grant receivers and $612 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,697. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Candidates are also required to repay these loans within a given period. Every year, around 9% of the applicants to Amarillo College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

58%

State Grant Aid

20%

Institution Grant Aid

18%

Pell Grant

58%

Average Aid Awarded

Federal Grant Aid

$4,800

State Grant Aid

$1,050

Institution Grant Aid

$674

Pell Grant

$4,765

Amarillo College's financial aid is basically to provide students financial help that they need to complete their education and get their degree. The table below shows the breakdown of the financial aid that includes federal grants, pell grants, state grants, and institutional grants. The total aid awarded is $16472114 and the percentage of students receiving the aid is 46%.

Institutional grants having a contribution percentage of 18% with an average aid amount of $674. Federal and pell grant both having the contribution percentage of 58% with an average aid of $4,800 and $4,765 respectively, and state grant having 20% with an amount of $1,050.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$5,525

$30,001 - $48,000

$4,825

$48,001 - $75,000

$2,887

$75,001 - $110,000

$1,175

Over $110,000

$214

The table shows the amount of aid provided based on family income :

It is basically to help the students get the degree irrespective of their financial background. For those whose family income is under $30,000 they can expect the amount of aid i.e $5,525, family income between $30,001 to $48,000 can expect the aid of $4,825, family income between $48,001 to $75,000 can expect $2,887 and for $75,001 to $1,10,000 is $1,175 and over for $1,10,000 is $214.

Student Loans for Amarillo College

Average Loan Amount Average Loan Amount received per year.

$5,364/Year

Students Taking Out Loans

13%

Loan Default Rate

12.7%