$5,150

Avg. Federal Grant

$2,017

Avg. Federal Loan

$55,420,273

Total Aid Awarded

Berea College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

100%

Total Aid Amount Average Total Aid Awarded per year.

$55.420M

Financial Aid Official Website

https://www.berea.edu/student-financial-aid/

Among them are scholarship programs such as Educational Foundation of the KYCPA Scholarships, John D. Baum Memorial Scholarship, and Mary Jo Young Dual Credit Scholarship. 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 $651,018 in a year. Notably, a total of 88% of the applicants to Berea College receive the Federal Grant every year. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 88% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,279, and the same stands at $6,467 for State Grant awardees and $37,539 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $5,303. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At Berea College, the percentage of candidates who opt to avail of student loans is around 13%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

92%

State Grant Aid

44%

Institution Grant Aid

100%

Pell Grant

92%

Average Aid Awarded

Federal Grant Aid

$5,150

State Grant Aid

$6,312

Institution Grant Aid

$26,730

Pell Grant

$4,945

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$35,320

$30,001 - $48,000

$31,432

$48,001 - $75,000

$28,446

$75,001 - $110,000

$26,000

Over $110,000

N/A

Student Loans for Berea College

Average Loan Amount Average Loan Amount received per year.

$2,017/Year

Students Taking Out Loans

14%

Loan Default Rate

6.7%

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