$4,532

Avg. Federal Grant

$4,486

Avg. Federal Loan

$6,772,106

Total Aid Awarded

Howard College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

65%

Total Aid Amount Average Total Aid Awarded per year.

$6.772M

Financial Aid Official Website

https://howardcollege.edu/students/financial-aid-and-scholarships/

It is interesting to note that, every year, around 87% of students at HC receive some kind of financial aid, while the total amount of assistance/loans provided is $2,061,749. For additional information about financial assistance schemes, one can head over to HC’s financial aid page at https://howardcollege.edu/students/financial-aid-and-scholarships/. Notably, a total of 59% of the applicants to Howard College receive the Federal Grant every year. On the other hand, 83% of the candidates get the Student Grant, 34% receive the Institution Grant, and 59% get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,980, the State Grant receivers and Institution Grant beneficiaries get $2,382 and $3,852, respectively. And, for the Pell Grant awardees, the average aid amount is $5,141. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At HC, an estimated number of 13% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

54%

State Grant Aid

32%

Institution Grant Aid

30%

Pell Grant

54%

Average Aid Awarded

Federal Grant Aid

$4,532

State Grant Aid

$2,391

Institution Grant Aid

$3,679

Pell Grant

$4,543

While gathering knowledge on all the types of financial aids you can get and how to apply for them along with the eligibility criteria, one important thing to note down is the financial aid breakdown which tells the student or the student’s parents about how much and which kind of aid is provided every year to the students so that they get a clear idea on which aid to apply for.

Students discover the chance to take up various financial aids; federal, institutional, or state grants. As per the records seen previously, 54% of the students are conceded Federal Grant Aid which amounts to a sum  of $4,532. For all purposes 54% of the students get Pell Grants which mean a measure of around $4,543. Almost 32% of the students are eligible for state grants at a measure of around $2,391 though 30% of the students get institutional grants which amount to a sum of around $3,679 for a single student for one academic year.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,237

$30,001 - $48,000

$4,790

$48,001 - $75,000

$3,511

$75,001 - $110,000

$1,477

Over $110,000

$1,011

The average financial aid in Howard College is determined by the annual family income of the student and is segregated into 5 diverse levels of income.

The financial aid for the Family Income reaching out between $0 to $30,000 stands at about $6,237. A slight change is seen when we see that the aid given is $4,790 to levels of pay between $30,000 to $48,000. For annual income range, $48,001 to $75,000, the aid given is $3,511. Finally, we have pay ranges $75,000 to $110,000 and $110,000 or more that decrease to about $1,477 and $1,011 worth of financial aid, respectively.

Student Loans for Howard College

Average Loan Amount Average Loan Amount received per year.

$4,486/Year

Students Taking Out Loans

11%

Loan Default Rate

17.1%

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