$5,315

Avg. Federal Grant

$5,841

Avg. Federal Loan

$40,539,961

Total Aid Awarded

Berkeley College-New York Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

92%

Total Aid Amount Average Total Aid Awarded per year.

$40.540M

Financial Aid Official Website

www.berkeleycollege.edu/Finances.htm

Such schemes include Achievement Award, Aid to Native Americans, Albert E. Wischmeyer Memorial Scholarship, and Alumni Association Scholarship. Notably, 98% of the students at Berkeley College-New York get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $24,472,731. Notably, a total of 78% of the applicants to Berkeley College-New York receive the Federal Grant every year. In comparison, 98% of the students are awarded the Student Grant, 97% get the Institution Grant, and 78% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,654, and the same stands at $4,519 for State Grant awardees and $9,724 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $5,510. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 68% of the applicants to Berkeley College-New York opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

66%

State Grant Aid

62%

Institution Grant Aid

94%

Pell Grant

66%

Average Aid Awarded

Federal Grant Aid

$5,315

State Grant Aid

$4,241

Institution Grant Aid

$8,126

Pell Grant

$5,149

As shown in the table the Institutional grant aid percentage is 94% with an average aid of $8126 which is higher than federal and pell grant aid reported to be 66% only. Their reported average aid is $5315 and $5149.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$15,602

$30,001 - $48,000

$17,316

$48,001 - $75,000

$15,092

$75,001 - $110,000

$7,391

Over $110,000

$4,576

As shown in the table, an aid of $15602 is awarded to the students whose family income is lower than $30,000 and an aid of $4576 is provided to those recipients whose family income is  ranging from $48,001 to $ $75,000 . 

Student Loans for Berkeley College-New York

Average Loan Amount Average Loan Amount received per year.

$6,185/Year

Students Taking Out Loans

67%

Loan Default Rate

12.8%

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