$5,201

Avg. Federal Grant

$5,515

Avg. Federal Loan

$35,082,405

Total Aid Awarded

Austin College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

99%

Total Aid Amount Average Total Aid Awarded per year.

$35.082M

Financial Aid Official Website

www.austincollege.edu/admission/financial-aid

Students can avail of scholarships provided by the college, such as Abe and Annie Seibel Foundation Loan, Carnegie Dartlet $10,000 Scholarship, Children of U.S. Military who are Missing in Action or Prisoners of War (MIA/POWs) Exemption, and Community Service Scholarship for Multicultural Students, if they find educational expenses to be on the higher side. 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 $4,445,154 in a year. Notably, a total of 32% of the applicants to Austin College receive the Federal Grant every year. On the other hand, 100% of the candidates get the Student Grant, 100% receive the Institution Grant, and 32% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,460, and the same stands at $3,369 for State Grant awardees and $27,527 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,753. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. 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. Candidates are also required to repay these loans within a given period. At AC, an estimated number of 55% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

38%

State Grant Aid

46%

Institution Grant Aid

100%

Pell Grant

38%

Average Aid Awarded

Federal Grant Aid

$5,201

State Grant Aid

$3,437

Institution Grant Aid

$26,856

Pell Grant

$4,433

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$35,926

$30,001 - $48,000

$36,850

$48,001 - $75,000

$34,391

$75,001 - $110,000

$28,039

Over $110,000

$25,820

Student Loans for Austin College

Average Loan Amount Average Loan Amount received per year.

$7,934/Year

Students Taking Out Loans

56%

Loan Default Rate

5.7%

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