$4,945

Avg. Federal Grant

$5,151

Avg. Federal Loan

$63,889,994

Total Aid Awarded

Calvin College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

94%

Total Aid Amount Average Total Aid Awarded per year.

$63.890M

Financial Aid Official Website

www.calvin.edu/finaid/

Interestingly, almost all of the students at CU receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $9,842,533 in a year. One can visit CU's financial aid page at http://www.calvin.edu/finaid/ for more information. The total percentage of candidates applying to Calvin University who receive the Federal Grant is 19%. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 19% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,084, while the same comes to $2,412 for State Grant receivers and $18,886 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,148. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. Students whose family income per annum is less than $30,000 will receive a federal aid of $24,806 on average in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $24,121 and $22,573, respectively. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $18,972. And, for those with a family income of more than $110,000, the amount stands at $14,631. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At CU, an estimated number of 44% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

21%

State Grant Aid

32%

Institution Grant Aid

100%

Pell Grant

21%

Average Aid Awarded

Federal Grant Aid

$4,945

State Grant Aid

$1,928

Institution Grant Aid

$18,827

Pell Grant

$4,156

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$25,353

$30,001 - $48,000

$25,836

$48,001 - $75,000

$23,021

$75,001 - $110,000

$21,027

Over $110,000

$17,121

Student Loans for Calvin College

Average Loan Amount Average Loan Amount received per year.

$7,710/Year

Students Taking Out Loans

50%

Loan Default Rate

2.4%

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