$5,633

Avg. Federal Grant

$4,391

Avg. Federal Loan

$52,031,829

Total Aid Awarded

Lafayette College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

51%

Total Aid Amount Average Total Aid Awarded per year.

$52.032M

Financial Aid Official Website

https://admissions.lafayette.edu/financial-aid/

Such schemes include Carnegie Dartlet $10,000 Scholarship, Community Service Scholarship for Multicultural Students, Joseph P. Gavenonis Scholarship, and Marie L. Rose Scholarship. It is interesting to note that, every year, around 57% of students at LC receive some kind of financial aid, while the total amount of assistance/loans provided is $3,350,961. One can visit LC's financial aid page at https://admissions.lafayette.edu/financial-aid/ for more information. At LC, the total percentage of applicants who receive the Federal Grant stands at 10%. On the other hand, 49% of the candidates get the Student Grant, 49% receive the Institution Grant, and 10% get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $6,366, and the same stands at $3,796 for State Grant awardees and $43,184 for Institution Grant recipients. And, for the Pell Grant awardees, the average aid amount is $4,709. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. Students whose family income per annum is less than $30,000 will receive a federal aid of $58,336 on average in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $50,255, while those falling in the $48,001-$75,000 income category get $45,428 a year. Those with an annual income level of $75,001-$110,000 would receive $42,490, while candidates with more than $110,000 of family income receive an average federal aid of $22,396. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. 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 LC, an estimated number of 31% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

12%

State Grant Aid

3%

Institution Grant Aid

50%

Pell Grant

12%

Average Aid Awarded

Federal Grant Aid

$5,633

State Grant Aid

$3,196

Institution Grant Aid

$40,310

Pell Grant

$4,414

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$58,169

$30,001 - $48,000

$53,634

$48,001 - $75,000

$54,196

$75,001 - $110,000

$43,066

Over $110,000

$22,248

Student Loans for Lafayette College

Average Loan Amount Average Loan Amount received per year.

$6,179/Year

Students Taking Out Loans

31%

Loan Default Rate

1%

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