$5,045

Avg. Federal Grant

$5,448

Avg. Federal Loan

$20,217,446

Total Aid Awarded

Covenant College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

94%

Total Aid Amount Average Total Aid Awarded per year.

$20.217M

Financial Aid Official Website

www.covenant.edu/admissions/undergrad/costs

Such schemes include Constance L. Lloyd/ACMPE Scholarship, Covenant College - Tuition Waiver Exchange Program, Georgia Public Safety Memorial Grant, and Georgia Tuition Equalization Grant. It is interesting to note that almost every student at CC receives some kind of financial aid, while the total amount of provided assistance/loans in a year is $3,006,279. At CC, the total percentage of applicants who receive the Federal Grant stands at 26%. Meanwhile, 99% of the applicants receive the Student Grant and 97% are awarded the Institution Grant, while 26% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,186, the State Grant receivers and Institution Grant beneficiaries get $4,583 and $20,866, respectively. And, for the Pell Grant awardees, the average aid amount is $4,309. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. At CC, an estimated number of 51% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

29%

State Grant Aid

29%

Institution Grant Aid

96%

Pell Grant

29%

Average Aid Awarded

Federal Grant Aid

$5,045

State Grant Aid

$4,412

Institution Grant Aid

$20,389

Pell Grant

$4,265

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$28,705

$30,001 - $48,000

$25,997

$48,001 - $75,000

$25,019

$75,001 - $110,000

$22,253

Over $110,000

$19,503

Student Loans for Covenant College

Average Loan Amount Average Loan Amount received per year.

$6,795/Year

Students Taking Out Loans

56%

Loan Default Rate

1.5%

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