$4,788

Avg. Federal Grant

$5,791

Avg. Federal Loan

$8,238,014

Total Aid Awarded

Lackawanna College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

75%

Total Aid Amount Average Total Aid Awarded per year.

$8.238M

Financial Aid Official Website

www.lackawanna.edu/admissions/financial-aid/

Students can avail of scholarships provided by the college, such as Joseph P. Gavenonis Scholarship and Technology Scholarship, if they find educational expenses to be on the higher side. Notably, 81% of the students at Lackawanna College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $16,110,990. One can visit LC's financial aid page at http://www.lackawanna.edu/admissions/financial-aid/ for more information. Notably, a total of 68% of the applicants to Lackawanna College receive the Federal Grant every year. In comparison, 79% of the students are awarded the Student Grant, 31% get the Institution Grant, and 67% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $5,241, the State Grant receivers and Institution Grant beneficiaries get $3,391 and $4,049, respectively. And, for the Pell Grant awardees, the average aid amount is $4,266. 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 $8,428 per year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $7,851 and $5,708, respectively. Meanwhile, the average federal aid for students in the $75,001-$110,000 income bracket is $4,014. And, for those with a family income of more than $110,000, the amount stands at $1,093. 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 LC, an estimated number of 79% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

76%

State Grant Aid

54%

Institution Grant Aid

33%

Pell Grant

75%

Average Aid Awarded

Federal Grant Aid

$4,788

State Grant Aid

$3,329

Institution Grant Aid

$5,225

Pell Grant

$4,688

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$8,691

$30,001 - $48,000

$8,129

$48,001 - $75,000

$5,472

$75,001 - $110,000

$4,541

Over $110,000

$1,808

Student Loans for Lackawanna College

Average Loan Amount Average Loan Amount received per year.

$6,637/Year

Students Taking Out Loans

90%

Loan Default Rate

19.6%

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