Avg. Federal Grant


Avg. Federal Loan


Total Aid Awarded

Lake Forest College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.


Total Aid Amount Average Total Aid Awarded per year.


Financial Aid Official Website


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


State Grant Aid


Institution Grant Aid


Pell Grant


Average Aid Awarded

Federal Grant Aid


State Grant Aid


Institution Grant Aid


Pell Grant


Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000


$30,001 - $48,000


$48,001 - $75,000


$75,001 - $110,000


Over $110,000


Student Loans for Lake Forest College

Average Loan Amount Average Loan Amount received per year.


Students Taking Out Loans


Loan Default Rate