$5,030

Avg. Federal Grant

$5,032

Avg. Federal Loan

$38,784,964

Total Aid Awarded

Beloit College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

97%

Total Aid Amount Average Total Aid Awarded per year.

$38.785M

Financial Aid Official Website

www.beloit.edu/prospective/afford/

Interestingly, almost all of the students at BC receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $4,250,083 in a year. For additional information about financial assistance schemes, one can head over to BC’s financial aid page at http://www.beloit.edu/prospective/afford/. At BC, the total percentage of applicants who receive the Federal Grant stands at 36%. Meanwhile, 100% of the applicants receive the Student Grant and 98% are awarded the Institution Grant, while 36% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,669, while the same comes to $3,241 for State Grant receivers and $35,052 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,670. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Those with a family income below $30,000 per annum, would get an average federal aid of $48,804 in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $47,669, while those falling in the $48,001-$75,000 income category get $44,517 a year. Those with an annual income level of $75,001-$110,000 would receive $41,268, while candidates with more than $110,000 of family income receive an average federal aid of $35,868. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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 BC, an estimated number of 69% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

31%

State Grant Aid

10%

Institution Grant Aid

98%

Pell Grant

31%

Average Aid Awarded

Federal Grant Aid

$5,030

State Grant Aid

$3,124

Institution Grant Aid

$32,066

Pell Grant

$4,525

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$51,419

$30,001 - $48,000

$49,318

$48,001 - $75,000

$49,276

$75,001 - $110,000

$40,562

Over $110,000

$35,691

Student Loans for Beloit College

Average Loan Amount Average Loan Amount received per year.

$7,643/Year

Students Taking Out Loans

65%

Loan Default Rate

3.4%

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