$4,839

Avg. Federal Grant

$3,912

Avg. Federal Loan

$145,246,914

Total Aid Awarded

Ivy Tech Community College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

43%

Total Aid Amount Average Total Aid Awarded per year.

$145.247M

Financial Aid Official Website

www.ivytech.edu/financial-aid/

Among them are scholarship programs such as Alice Ann Garner Scholarship, Amy L. McKee-Everett Memorial Scholarship, Birds Eye Foods (Brooks Foods) Scholarship, and Blackford Agriculture Scholarship. It is interesting to note that, every year, around 72% of students at ITCC receive some kind of financial aid, while the total amount of assistance/loans provided is $52,197,010. One can visit ITCC's financial aid page at http://www.ivytech.edu/financial-aid/ for more information. At ITCC, the total percentage of applicants who receive the Federal Grant stands at 55%. In comparison, 63% of the students are awarded the Student Grant, 15% get the Institution Grant, and 55% of the applicants receive the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $4,553, and the same stands at $2,877 for State Grant awardees and $585 for Institution Grant recipients. And, for the Pell Grant awardees, the average aid amount is $3,461. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Ivy Tech Community College, the percentage of candidates who opt to avail of student loans is around 18%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

57%

State Grant Aid

43%

Institution Grant Aid

11%

Pell Grant

57%

Average Aid Awarded

Federal Grant Aid

$4,839

State Grant Aid

$2,922

Institution Grant Aid

$738

Pell Grant

$4,778

As shown in the table the breakdown includes Federal Grants, Pell Grants, state grants and institutional grants, with federal grants having the highest percentage contribution of 57% with an average aid amount being $4,839. Pell grants have the same percentage of 57% with an average aid amount of $4,778 which is higher than the state grant aid average of $2,922.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$7,591

$30,001 - $48,000

$6,602

$48,001 - $75,000

$3,531

$75,001 - $110,000

$851

Over $110,000

$135

As shown in the table lower the family income higher is the amount of aid one can expect to receive. For those students who have a family income under $30,000 can expect to receive an aid amount of $7,591 while those with family income over $110,000 can expect to receive an aid amount of $135. This helps students who are coming from low-income homes to pay for their degrees.

Student Loans for Ivy Tech Community College

Average Loan Amount Average Loan Amount received per year.

$3,948/Year

Students Taking Out Loans

20%

Loan Default Rate

17.8%

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