$4,999

Avg. Federal Grant

$5,428

Avg. Federal Loan

$64,920,014

Total Aid Awarded

Iona College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

90%

Total Aid Amount Average Total Aid Awarded per year.

$64.920M

Financial Aid Official Website

www.iona.edu/Student-Life/Student-Financial-Services

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 $11,766,045. For additional information about financial assistance schemes, one can head over to IC’s financial aid page at http://www.iona.edu/Student-Life/Student-Financial-Services. The total percentage of candidates applying to Iona College who receive the Federal Grant is 40%. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 40% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $5,404, the State Grant receivers and Institution Grant beneficiaries get $3,746 and $19,850, respectively. And, for the Pell Grant awardees, the average aid amount is $4,726. 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. Students whose family income per annum is less than $30,000 will receive a federal aid of $27,289 on average in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $25,695, while those falling in the $48,001-$75,000 income category get $22,617 a year. Those with an annual income level of $75,001-$110,000 would receive $20,258, while candidates with more than $110,000 of family income receive an average federal aid of $19,545. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At IC, an estimated number of 68% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

40%

State Grant Aid

34%

Institution Grant Aid

100%

Pell Grant

40%

Average Aid Awarded

Federal Grant Aid

$4,999

State Grant Aid

$3,123

Institution Grant Aid

$19,966

Pell Grant

$4,461

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$24,780

$30,001 - $48,000

$24,222

$48,001 - $75,000

$23,898

$75,001 - $110,000

$20,341

Over $110,000

$19,588

Student Loans for Iona College

Average Loan Amount Average Loan Amount received per year.

$8,952/Year

Students Taking Out Loans

67%

Loan Default Rate

5.5%

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