$3,031

Avg. Federal Grant

$7,148

Avg. Federal Loan

$1,266,868

Total Aid Awarded

IBMC College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

81%

Total Aid Amount Average Total Aid Awarded per year.

$1.267M

Financial Aid Official Website

www.ibmc.edu

As many as 90% of the students at IC get some sort of financial aid, and the total amount of assistance/loans provided is more than $2,722,720 in a year. The total percentage of candidates applying to IBMC College who receive the Federal Grant is 85%. Meanwhile, 85% of the applicants receive the Student Grant and 10% are awarded the Institution Grant, while 85% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $3,005, the State Grant receivers and Institution Grant beneficiaries get $905 and $608, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $3,435. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. However, student loans attract a certain rate of interest at which the funds are borrowed. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 89% of the applicants to IBMC College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

85%

State Grant Aid

7%

Institution Grant Aid

42%

Pell Grant

85%

Average Aid Awarded

Federal Grant Aid

$3,031

State Grant Aid

$925

Institution Grant Aid

$625

Pell Grant

$2,949

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$7,001

$30,001 - $48,000

$2,980

$48,001 - $75,000

$1,001

$75,001 - $110,000

$429

Over $110,000

$42

Student Loans for IBMC College

Average Loan Amount Average Loan Amount received per year.

$7,148/Year

Students Taking Out Loans

90%

Loan Default Rate

16.6%

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