$6,184

Avg. Federal Grant

$6,062

Avg. Federal Loan

$45,868,229

Total Aid Awarded

Lake Forest College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

97%

Total Aid Amount Average Total Aid Awarded per year.

$45.868M

Financial Aid Official Website

www.lakeforest.edu/admissions/finaid/

As many as 99% of the students at LFC get some sort of financial aid, and the total amount of assistance/loans provided is more than $7,760,484 in a year. One can visit LFC's financial aid page at http://www.lakeforest.edu/admissions/finaid/ for more information. Notably, a total of 36% of the applicants to Lake Forest College receive the Federal Grant every year. Meanwhile, 99% of the applicants receive the Student Grant and 98% are awarded the Institution Grant, while 36% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $6,104, the State Grant receivers and Institution Grant beneficiaries get $4,847 and $30,899, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $6,021. 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 $39,747 per year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $39,376 and $36,473, respectively. On the other hand, the average federal aid stands at $30,029 for those with an annual family income between $75,001 and $110,000, and at $26,473 for an income more than $110,000. 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. Candidates are also required to repay these loans within a given period. Every year, around 77% of the applicants to Lake Forest College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

33%

State Grant Aid

25%

Institution Grant Aid

99%

Pell Grant

33%

Average Aid Awarded

Federal Grant Aid

$6,184

State Grant Aid

$4,661

Institution Grant Aid

$28,025

Pell Grant

$4,905

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$40,427

$30,001 - $48,000

$39,943

$48,001 - $75,000

$37,644

$75,001 - $110,000

$32,202

Over $110,000

$26,972

Student Loans for Lake Forest College

Average Loan Amount Average Loan Amount received per year.

$7,265/Year

Students Taking Out Loans

83%

Loan Default Rate

1.8%