$5,162

Avg. Federal Grant

$4,460

Avg. Federal Loan

$45,533,839

Total Aid Awarded

Berkeley College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

95%

Total Aid Amount Average Total Aid Awarded per year.

$45.534M

Financial Aid Official Website

www.berkeleycollege.edu/Finances.htm

If you think it will be difficult for you to afford the Berkeley College costs, you can always opt for gift-aids or self-help aids that are made available by the college. The Berkeley College fees might seem quite high for some students, which is why 95% of them receive some kind of financial aid while being enrolled in the programs. The total amount of aid received by the students annually was estimated to be around $45,533,839 in the session of 2018-2019.

For anyone applying to most of the federal and institutional aids, they have to first register to FAFSA. The school code for Berkeley College, NJ is 007502. For more information on FAFSA regarding Berkeley College, you can click here.

Scholarships

Scholarships fall under gift-aids, which means that you would not have to pay the aids back. They are also mostly merit-based. We are listing a few of the scholarships that the college offers, which might make the Berkeley College costs more affordable. Let’s look at them!

  • Berkeley College Achievement Award: This award is given to the students based on their GPA per standard academic year, the amount awarded is $3,000.
  • Berkeley College Alumni Legacy Scholarship: This scholarship pays for 25% of the Berkeley College tuition.
  • Berkeley College DECA/FBLA/HOSA Scholarship: This scholarship can pay for up to the entire tuition fee per standard academic year.

You can learn more about the different scholarships here.

Grants

Grants and scholarships are similar in the way that they are both parts of the gift-aid category and would not need to be paid back. However, unlike scholarships, grants are more need-based and provided to financially weak students.

Let’s look at the different kinds of grants that you can avail of, at Berkeley College, NJ.

Federal Grants

  • Federal Pell Grant: A student can expect up to $6,195 per standard academic year for financial aid year 2019-2020, and year-round Federal Pell Grant up to $9,922.50.
  • Federal Supplemental Educational Opportunity Grant (FSEOG): The awards may vary depending on the availability of the fund

State Grants

  • Tuition Aid Grant (TAG): These grants are based on need. Students enrolled in undergraduate degrees are eligible for TAG for 4.5 years, and Associate’s degree students are eligible for it for 2.5 years.

To know further about New Jersey financial aids, you can visit the college’s website that details it out.

Institutional Grants

  • Berkeley College Grant: To be eligible for this grant, you will have to be enrolled in a part-time or full-time program with the Berkeley College, and maintain a minimum of a cumulative GPA of 1.50.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

83%

State Grant Aid

74%

Institution Grant Aid

90%

Pell Grant

83%

Average Aid Awarded

Federal Grant Aid

$5,162

State Grant Aid

$9,682

Institution Grant Aid

$6,144

Pell Grant

$5,007

As mentioned earlier, 95% of the students receive some kind of financial aid. In this section, we present to you a detailed breakdown of the financial aids.

  • About 83% of the students received federal grants in the year 2018-2019, the amount of which came to around $5,162
  • The same percentage of students, which is 83% of students received pell grants, the amount of which is almost the same too, at $5,007
  • Even though the percentage of students receiving the state grants aid is lower, at 74%, the amount is higher, at $9682
    The highest percentage of students are provided grants by the institution at a whopping 90%, with the amount coming up to $6,144
  • Around 83% of the students take student loans, at a default rate of 14.1%, where the amounts are somewhat near $4,903

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$18,083

$30,001 - $48,000

$18,962

$48,001 - $75,000

$15,301

$75,001 - $110,000

$8,915

Over $110,000

$4,898

The grants, as we have defined earlier, are aids given to students who have difficulty paying for the Berkeley College fees. In light of the same, here is an estimate of how much financial aid students from different income groups can expect. Students in the first group, which is that of $0-$30,000 can expect somewhere around $18,083 in terms of financial aid. The next group, which is $30,000-$48,000, can expect aids that come to about $18,962. As we go higher in terms of income groups, the amount of financial aid, understandably, reduces. We can notice that as the group of $48,001-$75,000 can receive aids that amount to approximately $15,301. The next two groups, unfortunately, receive much lesser financial aid. The groups of $75,001-$110,000 and above $110,000 can expect aids of approximately $8915 and $4898 respectively.

To know more about federal aid that Berkeley College provides, click here.

Student Loans for Berkeley College

Average Loan Amount Average Loan Amount received per year.

$4,903/Year

Students Taking Out Loans

83%

Loan Default Rate

14.1%

Student loans are completely different from the kind of financial aid that we have discussed with you so far. Falling under the category of self-help aids, which signify that anyone seeking financial help through this channel has to earn back or return the amount with interest to the lender.
Some of the federal loans that Berkeley College provides are:

  • Federal Direct Unsubsidized Stafford Loan (FDUSL)
  • Federal Direct Subsidized Base Stafford Loan (FDSL)

For other loan options, you can register on FAFSA

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