$1,522

Avg. Federal Grant

$3,073

Avg. Federal Loan

$1,004,523

Total Aid Awarded

Maria College of Albany Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

78%

Total Aid Amount Average Total Aid Awarded per year.

$1.005M

Financial Aid Official Website

mariacollege.edu/admissions/financial-aid/

Notably, almost all of the college students get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $4,844,437. More information regarding the financial assistance schemes can be accessed on MCA’s official financial aid page at http://mariacollege.edu/admissions/financial-aid/. Notably, a total of 57% of the applicants to Maria College of Albany receive the Federal Grant every year. Meanwhile, 81% of the applicants receive the Student Grant and 14% are awarded the Institution Grant, while 57% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,235, while the same comes to $3,949 for State Grant receivers and $1,590 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $3,308. 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. Those with a family income below $30,000 per annum, would get an average federal aid of $13,706 in a year. For the $30,001-$48,000 and $48,001-$75,000 family income brackets, the average aid amount stands at $10,856 and $7,889, respectively. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. 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. Every year, around 76% of the applicants to Maria College of Albany opt for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

17%

State Grant Aid

17%

Institution Grant Aid

28%

Pell Grant

17%

Average Aid Awarded

Federal Grant Aid

$1,522

State Grant Aid

$1,371

Institution Grant Aid

$1,300

Pell Grant

$1,522

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$2,110

$30,001 - $48,000

N/A

$48,001 - $75,000

$912

$75,001 - $110,000

$1,806

Over $110,000

$313

Student Loans for Maria College of Albany

Average Loan Amount Average Loan Amount received per year.

$3,702/Year

Students Taking Out Loans

83%

Loan Default Rate

5.9%

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