$4,672

Avg. Federal Grant

$3,309

Avg. Federal Loan

$8,913,681

Total Aid Awarded

MassBay Community College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

38%

Total Aid Amount Average Total Aid Awarded per year.

$8.914M

Financial Aid Official Website

www.massbay.edu/financialaid

Notably, 64% of the students at Massachusetts Bay Community College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $2,258,375. Notably, a total of 40% of the applicants to Massachusetts Bay Community College receive the Federal Grant every year. Meanwhile, 53% of the applicants receive the Student Grant and 3% are awarded the Institution Grant, while 40% of the students get the Pell Grant. While the Federal Grant awardees receive an average aid of $4,777, the State Grant receivers and Institution Grant beneficiaries get $1,404 and $1,225, respectively. And, for the Pell Grant awardees, the average aid amount is $3,771. 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 MBCC, an estimated number of 21% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

43%

State Grant Aid

39%

Institution Grant Aid

4%

Pell Grant

43%

Average Aid Awarded

Federal Grant Aid

$4,672

State Grant Aid

$1,510

Institution Grant Aid

$791

Pell Grant

$4,541

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$6,022

$30,001 - $48,000

$5,308

$48,001 - $75,000

$2,663

$75,001 - $110,000

$1,856

Over $110,000

$83

Student Loans for MassBay Community College

Average Loan Amount Average Loan Amount received per year.

$3,526/Year

Students Taking Out Loans

29%

Loan Default Rate

13.3%

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