$4,409

Avg. Federal Grant

$3,646

Avg. Federal Loan

$2,771,623

Total Aid Awarded

Marion Technical College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

30%

Total Aid Amount Average Total Aid Awarded per year.

$2.772M

Financial Aid Official Website

N/A

It is interesting to note that, every year, around 81% of students at MTC receive some kind of financial aid, while the total amount of assistance/loans provided is $1,294,792. The total percentage of candidates applying to Marion Technical College who receive the Federal Grant is 62%. On the other hand, 73% of the candidates get the Student Grant, 30% receive the Institution Grant, and 62% get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,747, the State Grant receivers and Institution Grant beneficiaries get $684 and $1,616, respectively. And, for the Pell Grant awardees, the average aid amount is $3,767. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. However, student loans attract a certain rate of interest at which the funds are borrowed. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At Marion Technical College, the percentage of candidates who opt to avail of student loans is around 24%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

53%

State Grant Aid

7%

Institution Grant Aid

27%

Pell Grant

53%

Average Aid Awarded

Federal Grant Aid

$4,409

State Grant Aid

$701

Institution Grant Aid

$1,621

Pell Grant

$4,387

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$5,203

$30,001 - $48,000

$4,754

$48,001 - $75,000

$2,619

$75,001 - $110,000

$691

Over $110,000

$750

Student Loans for Marion Technical College

Average Loan Amount Average Loan Amount received per year.

$3,702/Year

Students Taking Out Loans

29%

Loan Default Rate

13.5%