$6,000

Avg. Federal Grant

$4,080

Avg. Federal Loan

$34,651,396

Total Aid Awarded

Henry Ford College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

50%

Total Aid Amount Average Total Aid Awarded per year.

$34.651M

Financial Aid Official Website

https://www.hfcc.edu/financial-aid

As many as 83% of the students at HFC get some sort of financial aid, and the total amount of assistance/loans provided is more than $14,504,576 in a year. For additional information about financial assistance schemes, one can head over to HFC’s financial aid page at https://www.hfcc.edu/financial-aid. At HFC, the total percentage of applicants who receive the Federal Grant stands at 71%. Meanwhile, 76% of the applicants receive the Student Grant and 3% are awarded the Institution Grant, while 71% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $6,508, and the same stands at $2,751 for State Grant awardees and $1,577 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $5,343. 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. At HFC, an estimated number of 26% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

72%

State Grant Aid

20%

Institution Grant Aid

2%

Pell Grant

72%

Average Aid Awarded

Federal Grant Aid

$6,000

State Grant Aid

$2,448

Institution Grant Aid

$1,823

Pell Grant

$5,949

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,669

$30,001 - $48,000

$5,800

$48,001 - $75,000

$3,169

$75,001 - $110,000

$827

Over $110,000

$164

Student Loans for Henry Ford College

Average Loan Amount Average Loan Amount received per year.

$4,091/Year

Students Taking Out Loans

29%

Loan Default Rate

21.8%