$5,406

Avg. Federal Grant

$2,937

Avg. Federal Loan

$17,185,929

Total Aid Awarded

Irvine Valley College (IVC) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

40%

Total Aid Amount Average Total Aid Awarded per year.

$17.186M

Financial Aid Official Website

financialaid.ivc.edu/Pages/default.aspx

Such schemes include AWA Scholarship Awards, CCNMA Scholarship, Cal Grant A, and Cal Grant B. It is interesting to note that, every year, around 46% of students at IVC receive some kind of financial aid, while the total amount of assistance/loans provided is $485,685. More information regarding the financial assistance schemes can be accessed on IVC’s official financial aid page at http://financialaid.ivc.edu/Pages/default.aspx. Notably, a total of 26% of the applicants to Irvine Valley College receive the Federal Grant every year. In comparison, 45% of the students are awarded the Student Grant, 8% get the Institution Grant, and 26% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,486, and the same stands at $2,761 for State Grant awardees and $1,569 for Institution Grant recipients. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,409. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. 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. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Irvine Valley College, the percentage of candidates who opt to avail of student loans is around 1%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

25%

State Grant Aid

41%

Institution Grant Aid

6%

Pell Grant

25%

Average Aid Awarded

Federal Grant Aid

$5,406

State Grant Aid

$2,293

Institution Grant Aid

$1,529

Pell Grant

$5,385

As shown in the table the  institutional grants have a high percentage as compared to other grants which is 41%  . The institutional grants contribute the least aid that is only 6%  followed by federal and pell grant aid reported to be 25% respectively

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$9,136

$30,001 - $48,000

$8,681

$48,001 - $75,000

$5,334

$75,001 - $110,000

$2,546

Over $110,000

$886

As shown in the table, the family income below $30,000 will receive an aid of  $9136 which is much higher than other family income groups. An aid of $886 is given to those students  whose family income is greater than $110,000. The college has distributed the aid keeping the financial needs of the people under consideration ,belonging to different family group levels.

Student Loans for Irvine Valley College (IVC)

Average Loan Amount Average Loan Amount received per year.

$2,937/Year

Students Taking Out Loans

1%

Loan Default Rate

8.3%

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