$4,881

Avg. Federal Grant

$6,651

Avg. Federal Loan

$23,008,416

Total Aid Awarded

Illinois College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

99%

Total Aid Amount Average Total Aid Awarded per year.

$23.008M

Financial Aid Official Website

www.ic.edu/sfs

Among them are scholarship programs such as AMVETS Post #100 Scholarship, August & Edna Zahatko Scholarship, Carnegie Dartlet $10,000 Scholarship, and Community Service Scholarship for Multicultural Students. Notably, almost all of the college students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $5,798,783. One can visit IC's financial aid page at http://www.ic.edu/sfs for more information. Notably, a total of 44% of the applicants to Illinois College receive the Federal Grant every year. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 44% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,102, while the same comes to $4,903 for State Grant receivers and $21,486 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,831. 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. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $29,781 per year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $29,672 and $26,652, respectively. Those with an annual income level of $75,001-$110,000 would receive $22,088, while candidates with more than $110,000 of family income receive an average federal aid of $20,127. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Candidates are also required to repay these loans within a given period. Every year, around 79% of the applicants to Illinois College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

43%

State Grant Aid

45%

Institution Grant Aid

100%

Pell Grant

43%

Average Aid Awarded

Federal Grant Aid

$4,881

State Grant Aid

$4,869

Institution Grant Aid

$21,107

Pell Grant

$4,717

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$29,855

$30,001 - $48,000

$29,564

$48,001 - $75,000

$26,764

$75,001 - $110,000

$23,635

Over $110,000

$21,187

Student Loans for Illinois College

Average Loan Amount Average Loan Amount received per year.

$7,754/Year

Students Taking Out Loans

76%

Loan Default Rate

8.2%

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