$3,854

Avg. Federal Grant

$3,765

Avg. Federal Loan

$12,052,984

Total Aid Awarded

Elgin Community College (ECC) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

35%

Total Aid Amount Average Total Aid Awarded per year.

$12.053M

Financial Aid Official Website

elgin.edu/financialaid

Students can avail of scholarships provided by the college, such as AMVETS Post #100 Scholarship, August & Edna Zahatko Scholarship, Grant Program for Descendants of Police, Fire, or Correctional Officers, and Illinois Incentive for Access, if they find educational expenses to be on the higher side. It is interesting to note that, every year, around 47% of students at ECC receive some kind of financial aid, while the total amount of assistance/loans provided is $2,569,756. More information regarding the financial assistance schemes can be accessed on ECC’s official financial aid page at http://elgin.edu/financialaid. The total percentage of candidates applying to Elgin Community College who receive the Federal Grant is 36%. In comparison, 43% of the students are awarded the Student Grant, 11% get the Institution Grant, and 31% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $3,895, the State Grant receivers and Institution Grant beneficiaries get $1,310 and $1,402, respectively. On the other hand, the average aid received by the Pell Grant awardees is $3,828. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At ECC, an estimated number of 6% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

36%

State Grant Aid

16%

Institution Grant Aid

12%

Pell Grant

32%

Average Aid Awarded

Federal Grant Aid

$3,854

State Grant Aid

$1,281

Institution Grant Aid

$1,304

Pell Grant

$4,226

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$5,552

$30,001 - $48,000

$5,399

$48,001 - $75,000

$3,125

$75,001 - $110,000

$1,488

Over $110,000

$842

Student Loans for Elgin Community College (ECC)

Average Loan Amount Average Loan Amount received per year.

$3,765/Year

Students Taking Out Loans

7%

Loan Default Rate

11.3%

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