$4,256

Avg. Federal Grant

$4,903

Avg. Federal Loan

$1,908,802

Total Aid Awarded

Lakes Region Community College (LRCC) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

53%

Total Aid Amount Average Total Aid Awarded per year.

$1.909M

Financial Aid Official Website

www.lrcc.edu/financial-aid/financialaid.html

As many as 86% of the students at LRCC get some sort of financial aid, and the total amount of assistance/loans provided is more than $2,226,750 in a year. For additional information about financial assistance schemes, one can head over to LRCC’s financial aid page at http://www.lrcc.edu/financial-aid/financialaid.html. Notably, a total of 43% of the applicants to Lakes Region Community College receive the Federal Grant every year. On the other hand, 44% of the candidates get the Student Grant, 1% receive the Institution Grant, and 43% get the Pell Grant. And, for the Pell Grant awardees, the average aid amount is $4,091. 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. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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 LRCC, an estimated number of 71% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

53%

State Grant Aid

31%

Institution Grant Aid

2%

Pell Grant

53%

Average Aid Awarded

Federal Grant Aid

$4,256

State Grant Aid

$928

Institution Grant Aid

$1,053

Pell Grant

$4,184

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$4,258

$30,001 - $48,000

$353

$48,001 - $75,000

N/A

$75,001 - $110,000

N/A

Over $110,000

N/A

Student Loans for Lakes Region Community College (LRCC)

Average Loan Amount Average Loan Amount received per year.

$5,613/Year

Students Taking Out Loans

74%

Loan Default Rate

14.9%

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