Lees-McRae College Financial Aid and Scholarships
Students Receiving Aid
96%
Total Aid Amount
$13.410M
Financial Aid Official Website
www.lmc.edu/admissions/financial-aid/index.htm
Students can avail of scholarships provided by the college, such as Alessia Ann Albritton Memorial Scholarship, Alexa and Anne Binnion Scholarship, Alumni Arts and Crafts Scholarship, and Alumni Council Scholarship, if they find educational expenses to be on the higher side. Interestingly, almost all of the students at LMC receive some sort of financial aid, and the total amount of assistance/loans provided totals more than $4,114,674 in a year. One can visit LMC's financial aid page at http://www.lmc.edu/admissions/financial-aid/index.htm for more information. The total percentage of candidates applying to Lees-McRae College who receive the Federal Grant is 38%. In comparison, 100% of the students are awarded the Student Grant, 100% get the Institution Grant, and 38% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,553, while the same comes to $5,164 for State Grant receivers and $16,058 for Institution Grant awardees. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,473. 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 $24,266 on average in a year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $23,942, while those falling in the $48,001-$75,000 income category get $25,238 a year. On the other hand, the average federal aid stands at $21,722 for those with an annual family income between $75,001 and $110,000, and at $27,258 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. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At Lees-McRae College, the percentage of candidates who opt to avail of student loans is around 64%.
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