Grace College and Theological Seminary Financial Aid, FAFSA/Federal School Code, Scholarships and Deadlines 2022

$4,435

Avg. Federal Grant

$6,679

Avg. Federal Loan

$17,149,568

Total Aid Awarded

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Grace College and Theological Seminary Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

81%

Total Aid Amount Average Total Aid Awarded per year.

$17.150M

Financial Aid Official Website

www.grace.edu/admissions/undergraduate-admissions/financial-aid-scholarships

Notably, 98% of the students at Grace College and Theological Seminary get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $5,891,100. Notably, a total of 41% of the applicants to Grace College and Theological Seminary receive the Federal Grant every year. In comparison, 97% of the students are awarded the Student Grant, 93% get the Institution Grant, and 39% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $4,313, while the same comes to $6,831 for State Grant receivers and $10,520 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,316. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. 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. Every year, around 71% of the applicants to Grace College and Theological Seminary opt for student loans.

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Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

40%

State Grant Aid

33%

Institution Grant Aid

100%

Pell Grant

39%

Average Aid Awarded

Federal Grant Aid

$4,435

State Grant Aid

$7,112

Institution Grant Aid

$8,963

Pell Grant

$4,195

Grace College and Theological Seminary provided multiple aids so Total Aid Awarded reaches up to US$17,149,568. About 81% of the students who applied for it receive the aid.

Pell Grant average aid is US$4,195 and the percentage of students receiving it is 39%.
Federal Grant average aid is US$4,435, with the percentage of students receiving it standing at 40%.
33% of students receive State Grants that contain an average aid of US$7,112.

Institution Grant average aid worth an average of US$8,963 is received by 100% of students applying for it.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$18,906

$30,001 - $48,000

$17,982

$48,001 - $75,000

$13,306

$75,001 - $110,000

$9,915

Over $110,000

$8,735

This is in the form of federal aid and the amount received can vary, depending on the income of the student or the student’s family. The average federal aid in Grace College and Theological Seminary is calculated according to the family income of the student.

The federal aid for family incomes ranging between US$0 - 30,000 is higher than other aid amounts as the financial need among these families are also high, with the amount standing at US$18,906. Slight change is observed when you look at ranges from US$30,001-48,000; the aid provided for it is US$17,982. For income ranges between US$48,001 - 75,000, the aid provided is US$13,306. When the income range decreases the aid amount decreases to US$9,915. When the range reaches beyond US$110,000, the aid amount becomes US$8,735.

Student Loans for Grace College and Theological Seminary

Average Loan Amount Average Loan Amount received per year.

$8,393/Year

Students Taking Out Loans

72%

Loan Default Rate

2.6%

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