LIM College Financial Aid and Scholarships
Students Receiving Aid
74%
Total Aid Amount
$8.200M
Financial Aid Official Website
www.limcollege.edu/financial-aid
It is interesting to note that, every year, around 90% of students at LC receive some kind of financial aid, while the total amount of assistance/loans provided is $6,840,158. For additional information about financial assistance schemes, one can head over to LC’s financial aid page at http://www.limcollege.edu/financial-aid. The total percentage of candidates applying to LIM College who receive the Federal Grant is 40%. In comparison, 90% of the students are awarded the Student Grant, 90% get the Institution Grant, and 40% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $5,118, the State Grant receivers and Institution Grant beneficiaries get $3,459 and $7,468, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,523. 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 $13,217 on average in a year. The average aid amount stands at $11,532 for an annual family income between $30,001 and $48,000. This amount comes to $9,202 for those who fall under the $48,001-$75,000 family income bracket. On the other hand, the average federal aid stands at $5,116 for those with an annual family income between $75,001 and $110,000, and at $5,001 for an income more than $110,000. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At LC, an estimated number of 69% of the applicants choose to go for student loans.
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