The Federal loans receive a large weightage in terms of being a ready financial aid provided by the government. The average of Federal Loan that a student can avail is about $5,225. Almost 46% of students opt for a federal loan. The college directs a total of $13,724,555 towards financial aid.
PELL Grants and Federal Grants serve around 50% students. The amount that you can avail in the form of PELL Grants and Federal Grants is about $4,611 and $4,632. State Grants on an average amount to a sum of $2,039 and 20% students actually receive them.
Cape Fear Community College also steps ahead and provides institutional grants of about $1,270 to the deserving candidates from its own endowment and alumni funds. However only 8% students are entitled to receive these institutional grants.
Apart from these, students also apply for loans. the average student loan amounts to $5,289. Only a percentage of 18% students opt for student loans. However, it has been noted that the default rate is not so low at around 22% which implies that you should be very cautious while planning to take up a student loan.