$5,053

Avg. Federal Grant

$5,983

Avg. Federal Loan

$71,644,119

Total Aid Awarded

Augustana College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

99%

Total Aid Amount Average Total Aid Awarded per year.

$71.644M

Financial Aid Official Website

www.augustana.edu/admissions/financial-aid

It is interesting to note that almost every student at AC receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $11,230,211. The total percentage of candidates applying to Augustana College who receive the Federal Grant is 24%. On the other hand, 100% of the candidates get the Student Grant, 100% receive the Institution Grant, and 24% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,533, while the same comes to $4,595 for State Grant receivers and $27,157 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,376. 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. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. Every year, around 63% of the applicants to Augustana College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

25%

State Grant Aid

29%

Institution Grant Aid

100%

Pell Grant

25%

Average Aid Awarded

Federal Grant Aid

$5,053

State Grant Aid

$4,775

Institution Grant Aid

$26,173

Pell Grant

$4,610

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$35,715

$30,001 - $48,000

$35,883

$48,001 - $75,000

$31,766

$75,001 - $110,000

$29,226

Over $110,000

$24,845

Student Loans for Augustana College

Average Loan Amount Average Loan Amount received per year.

$7,740/Year

Students Taking Out Loans

68%

Loan Default Rate

3.4%

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