$5,396

Avg. Federal Grant

$7,199

Avg. Federal Loan

$11,209,875

Total Aid Awarded

Lane College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

94%

Total Aid Amount Average Total Aid Awarded per year.

$11.210M

Financial Aid Official Website

www.lanecollege.edu/lanepage2.asp?id=050000002

Students can avail of scholarships provided by the college, such as Chapter 105 - Memphis - Les Segar Memorial Scholarship, Dr. Richard Forrest & Ella Dudney Kelsey Memorial Scholarship, Tennessee HOPE Scholarship, and Tennessee Student Assistance Award, if they find educational expenses to be on the higher side. Notably, 97% of the students at Lane College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $9,811,749. The total percentage of candidates applying to Lane College who receive the Federal Grant is 91%. Meanwhile, 94% of the applicants receive the Student Grant and 26% are awarded the Institution Grant, while 90% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,727, and the same stands at $4,316 for State Grant awardees and $6,836 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $5,739. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. Every year, around 88% of the applicants to Lane College opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

91%

State Grant Aid

32%

Institution Grant Aid

27%

Pell Grant

91%

Average Aid Awarded

Federal Grant Aid

$5,396

State Grant Aid

$4,501

Institution Grant Aid

$5,838

Pell Grant

$5,014

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$8,189

$30,001 - $48,000

$5,920

$48,001 - $75,000

N/A

$75,001 - $110,000

N/A

Over $110,000

N/A

Student Loans for Lane College

Average Loan Amount Average Loan Amount received per year.

$7,223/Year

Students Taking Out Loans

92%

Loan Default Rate

17.1%

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